All Forum Posts by: Chris G.

Chris G. has started 11 posts and replied 121 times.

Originally posted by Thomas M.:

Thanks Will I would love to get infinite return,and that's exactly what I was aiming for until I got shot down like a bird in the sky with 1 sentence "We're not going to be able to do this loan at this time, Thanks".

Until I find a lender, I'm stuck saving and paying cash.

Look for private money... ask all your family members if they would like to get a 8% return on their money over the <1% they have sitting in a savings account or CD right now. Ask every investor you meet. Ask business professionals like doctors, dentists, lawyers, etc... There are more people out there than would think that would like that kind of return on their investment.

Get a list of people that seem interested and then once a deal pops up... put together a very professional looking package that details the whole deal, with all the numbers, and also figure out a way to ensure them that they will receive their initial investment back... (ie holding the deed for the property, etc)...

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Originally posted by Will Barnard:

That is a fanbtastic deal, do as many of those as you can and do not discount lines of credit. With those spreads, you can afford leverage,even at higher rates. If you use it on the next one like this, you would still have cash flow without using your own money and that my friend is an infinite return.

Well said Will!

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Originally posted by Financexaminer:

Start with; West's Estate Planning and Probate Law. Written for estate planners and attorneys. West's Law Library I think can be found on line, they also have a very good Real Estate Law text.

Your request gives me confidence in younger investors! Good luck

Awesome. Thanks for the reference!

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Quite an old post, but I just thought I'd add my comments.

click2mail is super slow. The interface is pretty buggy also. You can't have multiple return addresses and recently I can't get a jpeg to load at all.

I have resorted to designing my postcard in photoshop then pasting the image into a word document, then uploading the word document.

My comment on quality is mine weren't that bad at all. Some of my returns had some ink blotches, while others didn't. I'll try to snap a photo of my card I designed all by myself. I got a 6% call rate on the first round. Round 2 is going out next week.

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I'm looking to educate myself more about probate. Looking for some good recommendations for some reading up on the subject. Especially if the book is gear towards California probate.

Thanks!

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Good stuff!

Originally posted by Financexaminer:

I think the internet has spoiled many older investors in these times and has gotten new investors off on the wrong foot!

Don hit it as he was in RE before REOs took center stage for investors.

Believe it or not, RE use to sell much closer to its open market value, if you wanted to buy a rental in any community, you had to find other pending issues for a distressed property or buy it close to market.

Lately, seems investors only look for 50% or so "discounts". Nothing wrong with that, but it means new investors miss out on how to really make a property profitable, IMO.

You need to walk and talk! Get out from behind the computer screen and go out in public. Spread the word as to who you are and what you do. Wear out some shoes! I recently flipped an option out of a resturant, not sitting at a computer looking at REOs.

Pass out cards. Talk to the waitress at a lunch counter. She may not have a house to sell or be able to afford to buy one, but she may have an aunt, mother, sister, brother who does.

I have talked to tenants who told me about landlords....being sick, getting too old, wanting to retire, wanting to move out of the area, etc.

Follow through on what you learn on the street.

There are all kinds of deals out there and they are not all on your computer! Good luck

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That is awesome. Keep us updated on the results.

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Just wondering if anybody has used, or has referred their clients to Academy Mortgage? They are guys that claim they can do the 10 day close.

I need to get a closing done in the next 18 days. Not only that but an FHA loan is needed, we are within 90 days of the seller's aquisition, and the sales price is greater than 120% of the acquisition price.

This company claims they can do all this, without any supporting documents that verify repairs/improvements to the home. They just need to order 2 appraisals and 1 home inspection.

Sounds too good to be true, so just wondering if anybody has any experience with them. Thanks in advance!

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Welcome! Stick around. This site is awesome.

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Originally posted by wheelhouse:

I do business in a LLC but was recently told that if you are not holding the property(buy,rehab then sell or Land lording) then it is best to use a S-Corp to wholesale(assignment of contracts).

My CPA told me just about the same thing. Again, I cannot be certain, that is just what he told me. He has been a CPA for 20 years, working with investors for the last 12.

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All Forum Posts by: Chris G.

Chris G. has started 11 posts and replied 121 times.

Post: Newbie, My first deal

Post: Newbie, My first deal

Post: Good book to learn more about probate?

Post: click2mail.com - alternatives?

Post: Good book to learn more about probate?

Post: how do I find good deals?

Post: 13 Leads This Week

Post: Has anybody used Academy Mortgage???

Post: Hello from Southern California

Post: What type of business entity for wholesaling?