All Forum Posts by: Omar Merced

Jay, have you done the title work yet? I'm pretty sure your title person can elaborate on your lien. Just a thought.

The problem I see with this is that government agencies have never been known for common sense. And I can see how this would become a major issue. Thankfully the apartment industry has some major lobbyist that'll probably shut this down or at least we hope. I agree discriminating on all criminal activity is not really fair. I've seen from personal experience as the owner you decide what you can do it just has to be documented and followed accordingly. If not you are opening yourself to a fair housing suit.

Hi Stephanie. The short answer is it depends. I hate to say that but it's true. It depends on what is good for your personal rate of return. When I talk to people I always ask them what the future looks like for them and what do they consider a good rate of return vs the risk that they are willing to take. This is very personal. I used to work for a SFR REIT and they were ok with 4% where I wouldn't get out of bed for that. As far as deals they come from everywhere but I've gotten some very good ones from fellow investors. I am an advocate for the local meet ups and meeting the local people doing the deals. Yes you are going to find a lot of "interesting" people trying to sell you some "interesting" things but it's your job to know what is good and what is hype. This is not hard but to does require work and anyone that is trying to sell you different is not the type of people you want to be involved in. Hope to see you around.

@Account Closed Airbnb still not allowed here. For now...

Hi Victor. Great job getting in back in. I've also decided recently to start flipping again as well. Send me whatever you have. Hope to see you in some of the meet ups. 

I love Michigan and my opinion is very important to myself. I'm planning a scouting trip to a couple of markets (any locals have suggestions?) in the next couple of months. Amazing cashflow. Hopefully I'll be able to meet with some of you when I go. And who cares in the negative. I focus on the positive. By the way if I could I would buy Detroit. It'll be a few years but it will eventually be great with the right leadership.

Hello Chris. Welcome to BP. Are you hitting up any of the REIAs? Great place to meet like minded people. There are many and you'll figure out the good ones quickly. I go to all of them and have met some good people. 

Hi Matthew. I fix and flip but wholesale the ones I can't manage. I can add you to my buyers list. Let me know.

@Louis Davis Please let me know if you have anything as well.

@Jeff B. Good information. Luckily I have my license and use it to my and my investors advantage. 

Hi Sareh. Although an attorney is certainly a way to go. Sometimes not really needed if your deal is pretty straight forward. Subject to's are not terribly complicated. A good title or fellow Las Vegas investor can probably get you a template and then maybe you send to an attorney for a review. Much cheaper that way instead of having them draft the agreement. If you need any help let me know. Good Luck

Sorry, I just noticed this was from a month ago. How'd the deal go?

Hi Reginald. Congratulations on getting your property under contract. I'm certain you've done your due diligence and there is room for profit. My first question is what is your end goal? Are you wholesaling the deal or are you going to flip yourself? If you are wholesaling you do not need any real funds. You should be able to assign the contract and charge your marketing fee or something similar. If you are retailing the property that is a whole other deal. You might have to get transactional funding if that is the case. Let me know if I can help. Good Luck