All Forum Posts by: Mark Scuderi

I'd be happy to meet you and share some experiences.

The bottom line here is you will have to build trust to get access to more of their money. Convince him to fund 1 deal first. With a 50/50 split you should return him a large %. After that do another. After 2-3 deals the funding will increase. Not much convincing will need to be done after that. That's how I started with my Private Lender. After 3-4 deals my credit line increased substantially and my terms became much more favorable. Good luck!!!!

Cap rates vary based on market, but essentially it comes down to risk. Higher the risk, higher the cap. What I mean by risk is value of the neighborhood as a whole. Your more desirable areas will have lower cap rates than less desirable neighborhoods.

It's not until they leave the "safety" of full time employment will someone fully commit to their business. That commitment is what will lead you to a life unimaginable to the average worker. If you're like me you will have some challenges and some doubt along the way. Fight through it, stay on course, and no doubt you will succeed!

HUD will not reduce the price. You can terminate the deal, since it is an inspection issue my experience is you will have your EMD returned. When the home re-lists you can attempt to purchase it at a lower auction price.

Real estate agents are no different than anyone else in the world. They do not want to work for free. Having said that, I am a Broker and an investor. I can say that most agents do not understand the investment side of the business simply because there is little training for agents in investment real estate. My suggestion is you work with a broker who understands where to find off market deals and also invests.

I decided to begin flipping last January. Tomorrow I close my 4th deal, but I am coming to realize the tax consequences are becoming an issue. I have a Hard Money lender I use for my flips, but am looking for a private lender that will allow me to hold the properties for 2-5 years. Any suggestions?