All Forum Posts by: Peter Miraflor

Bill Gulley, I'm sorry to say but that's the most ridiculous comment I've ever heard in BiggerPockets. I don't see anything wrong if If a wholesaler said that he will be bringing in his financial partner, because in reality that is actually a business or financial partner. That's why you put Contingencies on your purchase and sale agreement 

 in-case your  end buyer changes their mind or have some financial issues

Like

 1.)Contract is subject to Partners approval

2.) Contract is subject to unacceptable appraisal by buyer

3.) In the event the buyer defaults the earnest money deposit should be the sole remedy in 

How can you get legal liability on that? Also your end Buyer,  which is also your financial partner should pay 2k of none refundable earnest money.  incase he changed his mind  you you still made money without legal liability! 

I'm currently on a free trial for realeflow  the software and looks very promising  but it's so slow  and laggy it always freezes on me   that I end up  logging out and log back in again . I have no issues with the software and what it can do,  the only issue I have is it always freezes up which slows me down on what I really need to do which is analyze 5 properties per day and put it on my CRM. Now I'm gonna explore & find other crm like Freedom soft, Rei blackbook Or Podio which i heard was highly customizable and you can even use a cellphone with

So How Can I Offer To REO if its gonna be a whole sale deal? Which means I just need to put it under contract & sell it to my End Buyer. What kind of Contingencies i need to put on my offer? Its my 1st time doing this so hope someone can help Thanks.

Me too,Glad to be here in BP, Learned A lot Here .Looking Forward to get my 1st deal for Flipping or Rental Property. Finishing up with the book on Flipping Houses by J Scott & The Book on Rental Property By Brandon Turner... Driving to work I don't even listen to music instead, I listen to my Audio Books By Brandon Turner,Gary Keller,BP Podcast,Robert Kiyosaki & other Real Estate Audiobooks  30 min 1 way for a total of 1 hr/day .Im Surprised on how much I learned by just 1 hr a day of Audiobooks + Reading 1 Hr @ Home Reading Books.  Wish everyone the Best & successfull Real Estate Investing.

Hi everyone my name is Peter, I'm new to this & working on educating myself to become a real estate investor. We just got pre approved for 300k max FHA loan with. 3.75% interest rate & looking for an investment property to rehab, will have 203k loan attached . I prefer to purchase either Triplex or 4plex however, according to my mortgage broker, we won't qualify for government payment assistance for the down-payment unless it's a single family or duplex. So based on the current market condition, is it better to get a single family or duplex? My goal is to fix it up to gain some equity while having the benefit of Cash flow to live for free . And @least 1-2 yrs I will refinance, convert it to conventional loan use the equity to purchase another investment property as an FHA loan since my 1st property was converted from FHA to conventional. Is this a Good plan or there's a better way? Like, still go for Triplex or 4plex & raise the money for the down payment? . Any help or suggestions will be appreciated. Thanks everyone God bless!