All Forum Posts by: Bill Newport

Thank you all for your replies, your information is very helpful.....  Thanks again.

Hello All,

I was just wondering how I or my LLC would qualify for a Commercial loan on a muti unit property (10 units). I have no idea how this loans work. Thank you...

It's not a cash offer. Hard money and private investor's will specifically tell you not to write a "cash offer" to avoid this situation. I appreciate your response though. Thank you...

Hey Tim,

My Realtor is refusing to submit the offer because he feels my "Earnest Money Deposit" is too low and I should show as much money as I can for the listing agent to take the offer seriously. I understand his concern, but he wants me to put 3% of the purchase price ($12k). I told him that this is not a cash offer obviously, but a privately financed deal with 100% of the funds coming from my investors. I also let him know that I make a lot of offers and my investor have to approve the financing. So, if the deal is not approved I loose my deposit and we investor can not afford to loose that kind of money. I'm I off base??

Thanks guys....

Hello All,

Quick question..... If you are making an offer in your LLC's name and you are doing 100% financing on a standard sale, should you still show "proof of funds" in some kind of liquidable account (bank statements, investment accounts, ect)? I having trouble understanding if the offer is in a business name, would I use my personal accounts to show liquid assets. Also, would I even have to show proof of funds if I'm doing 100% financing from a private lender and the offer shows this? Thanks everyone....

Hello All,

I was wondering if anyone had a blank contract that I could reference and use when working with a general contractor for my first flip. Some type of contract that would obviously protect me. I am just getting started and would love to have an attorney draft something up, but I am pressed for cash right now. Any help would be greatly appreciated. Thank you...

Hello All,

I was wondering if anyone had a blank contract that I could reference and use when working with a general contractor for my first flip. Some type of contract that would obviously protect me. I am just getting started and would love to have an attorney draft something up, but I am pressed for cash right now. Any help would be greatly appreciated. Thank you...

Thank you for all of your insight. I greatly appreciate it...

This is probably a dumb question, but will banks accept offers on REO's not listed on the MLS? If so, how would I go about making an offer? If not, I apologize in advance.. Thank you...