All Forum Posts by: Michael Evans

Unless you want to do real estate as a business, make the smarter choice and be the bank. Become a Private Lender for flippers and earn double digit annual returns from your couch. Let your money do the work, not you.

I used them a couple of years back. It's a legitimate site, you just have to be careful about the people on the site.  Everyone isn't able to do everything they say they can do.

Stay Blessed! 

Once you get the equity out of your house, I wouldn't put it back into another primary house. The only way you can get access to your home's equity is either by borrowing against it (and paying interest) or selling the house (which also comes with selling costs). If you're going to buy a home to live in, don't look at it as an investment. Everyone needs somewhere to live and their is an ongoing cost for that. When anyone determines where they are going to live, it boils down to two things: how much to get in, and how much to stay in. How much to get in either means down payment and closing costs if you're buying, or deposit if you're renting. How much to stay in either means PITI and maintenance if you're buying, or monthly rent if you're renting.

I would actual do a cost analysis between the two. For example, if you were buying a house for $400,000 (median price in Roseville) and you had to put 20% + closing costs, you'd wind up needing about $99,000 total to get in. Assuming an interest rate of 4%, your PITI would be around $2,200/month.

If you were to rent a median priced home in Roseville, the monthly rent is about $1,900/month and you need about $4,000 to get in.

So by renting you would $95,000 in cash available to invest plus an extra $300/month to invest. You should be able to have a Return on Investment (ROI) of 10% per year on your cash, whether through real estate investing or other types of investing. Houses in Roseville are projected to increase in value by 4% for the next year. Based on this simple analysis, you would be better off renting and putting your cash to work as an investor (preferably as a Private Bank lending money anywhere from 6% - 12% per year).

When it comes to where to invest your money, my philosophy is simple: Grow your money until it matures, then have it produce cash flow.  it's like people.  As children we grow at a fast pace for a certain period of time (say the first 20 years of our lives), then once we mature, we stop growing and we produce children (in this case cash flow).  So I recommend that you invest aggressively (based on your risk tolerance) to grow your money via appreciation investments (in real estate, these would be double digit annual returns such as flips or being a hard money lender) and once you attain the level of cash you need to be financially independent, then you invest into income producing assets (in real estate this would be buy and hold properties and long term Private Money lending).

I hope this gives you some food for thought.  Feel free to reach out to me if I can be of any assistance.

Stay Blessed!

A lot of what you're developing can be done using plugins from CoreLogic. They are the main player in the real estate data arena. 

My partner and I are also data geeks (we're also software and systems developers), so we should connect.

Stay Blessed! 

Go with your gut. If he wants an origination fee, let it be paid as part of the escrow close. Anyone who wants money upfront is suspect.

Stay Blessed!

Everything is negotiable, so negotiate.

@Account Closed thanks for the information.

Stay Blessed!

@Account Closed What have you experienced that would make you say that about  the loan being called?  Has it happened to you? Have you worked for a loan company that called loans because the title was transferred?

Welcome. Decide what your goals are and then set objectives (measurable with a timeline), and develop strategies and tactics. 

I'll PM you with more details.

And I gave him helpful advice. A JV agreement isn't wholesaling. Wholesaling properly is about having the right legal documents with the correctly word sections in the purchase contract and the assignment agreement. There are entire books and classes on how to properly wholesale.

The forums are best utilized when someone has a specific question, while general questions are best answered by telling the person to get some more education. Otherwise you may get some bad advice. 

Stay Blessed!