All Forum Posts by: Nathan Frost

This sounds like high risk with Low reward. 

If a deal is good enough to fund with lots of credit card debt, there is probably a better and cheaper way to fund it. If the ONLY way it can be funded is with credit card dept you do not have a deal to start with. 

Why not use hard money? Way cheaper

That is what I have been using for a couple month. I do like the convenience of it being all in one. If you are looking for more cost-effective options you can try roor.io or salesmate.io I have not used them yet but I am looking into them for alternate solutions. They have more affordable per inbound/outbound sms costs. @Cody Gray

I would personally not recommend BatchLeads. The company gets more and more greedier over the time. They have raised their prices double over a few months period we have been using their platform. Since you have skip-traced lists with them you pretty much locked. If you cancel your account all your data will be lost. Also there is strict no refund policy, even from your wallet. You will have to go and leave any unused amount you got in your BatchLeads Wallet. I like the product but their policies drowning them down in competition. I hope they will see this feedback one day.

Quote from @Joe S.:

Pace has an agenda to make it sound easy.

Nothing down does not happen very often and I’ve been doing sub2 for years brother. Of course I’m not selling you a course or Mentorship so I have no reason to ham it up. Even the few no money down deals I have done wasn’t really no money down deals, because I spent thousands upon thousands of dollars in marketing  and typically I had to do some sort of rehab to the property once I got it.

The last Sub2 deal idea I had to give the seller $17,000, pay all the closing cost, repaint the whole house, and make payments on the thing three months while I was getting it ready.

The one before that the guy was behind almost $7000, I had to change the carpet, I painted the whole house, I made a number of payments while I was getting it ready, and I paid the closing cost, and I probably spent close to $7000 on a marketing campaign .

YUp these are all convoluted fantasy land..  your going to find very few sellers will even remotely understand what your doing and if they go to legal advisor they will kill it.. your correct though its this sort of stuff that sells  books tapes mentorships susbscriptions etc..  Sub too is super easy in the right market conditions and we are coming into the right market conditions you just need a little jingle in your pocket t o pull these off..  All these folks are trying to do RE with no money and well thats again what sells ..  make millions with no money

Quote from @Bob Stevens:

Quote from @Jonathan Greene:

Appreciation is never a guarantee so you follow migration and development trends to hedge your bets. Your search right now sounds like it can be swayed based on data, but you need knowledge. Where do you want to invest? Is there an area near you that you want to bet on?

The Whole Foods/Trader Joes/Starbucks principle works as well. Wherever they are opening, values are going up and there is traffic. They can spend a lot more than we can on demographic research.

 We used to follow, Walmart , HD, and U-Haul :) 

 U-Haul has great migration data, the best in the business on where people are moving to.

CMG just took this product in-house, so you can only originate directly through CMG. FYI. Not a brokered product anymore (which is a bummer). But I think I've got a good system with my AIO and my portfolio.

Quote from @Nathan Frost:

Quote from @Logan Singleton:

Hi @Nathan Frost, 

You could refinance all ten properties into a new blanket or single-asset loan since all the loans would close on the same day. You would need to pay back the lienholder the outstanding principal balance of your loan plus any associated fees (Prepayment, discharge, etc.)

 Can I send you my portfolio?  I really would prefer to do single loans and not one big blanket loan.  The 120% is killing me.  I really want to sell them or be done with them.  Any advice?

Hello yes please forward me the portfolio information and I will see what we can do in terms of funding. 

What happens when I stop paying the mortgage payment on multiple properties? I do not have a choice at this time. I have a number of rentals and my cash flow is very good but I overextended myself, and my cash reserves are too tight.  I've already stopped cash bleeding in all areas of my business over the past 45 days and I am freezing all improvement projects and released some existing staff.  So the question is what happens when I stop paying the mortgage payment for 60 to 90 days? I will be in a much better financial position if I choose to do this after the 60to 90 day period.  I'm aware this will hurt my credit for a long time and I am willing to live with that. I would prefer to do this, then sell the property since all my properties are cash flowing well.

Will I 

-just be able to resume normal payments after the 60 to 90 day period? 

-will I be able to keep my interest rates?

-Will they make me pay the backpay amount?

-is there any possibility of getting a six month forbearance?

-be able to keep my existing interest interest rate they are quite good?

Note: 

-the properties are located in California, Nevada, Arizona, and Connecticut

-the properties are all financed under conventional loans

-most of the loans are purchased as rentals, two are purchased as primaries. 

Hi @Nathan Frost, 

You could refinance all ten properties into a new blanket or single-asset loan since all the loans would close on the same day. You would need to pay back the lienholder the outstanding principal balance of your loan plus any associated fees (Prepayment, discharge, etc.)