All Forum Posts by: Preston Dean

Quote from @Jon McEntee:

Hey everyone, I'm a licensed REI sales agent/wholesaler here in Phoenix working with an investment brokerage that gets 10-15 off-market/discounted investment properties on contract every week that we market to our large private network. I mainly use the MLS, Monsoon, Facebook, and Craigslist to find buyer leads but i'm looking for other avenues. Anyone have any tips/advice for where to find solid buyer leads? Any feedback is appreciated. Thank you.

I worked with a investment company and they had access to all the high wealthy individuals with a yacht or a private plane/jet. We made calls all the time asking them if they were interested in purchasing more properties. I am not sure how they acquired such list but I know something like that is out there.

Hey Auturo,

Since you are a real estate agent - I would suggest following the same guidelines as a regular on market buyer. 

IABS & buyers rep

on market or off market if you are helping them with real estate related services then they are your client, therefore you need to have the IABS & buyers rep.

Posting something in the classifieds "LOOKING FOR" might be a better location for you to find the insight you are looking for!

HECLO is going to be used more like a line of credit whereas a Home Equity Loan is going to be used as one massive lump sum of money. 

I believe you have to have paid off a minimum of 20% of the loan in order to use either. 

so $200K house you'll have to get the loan value below $160K. If your loan balance is at $145K for example then you can only use the $15K difference (160-145). If its over $160K you won't be eligible for the HELOC.

Hope that helps 

Posting property on Investor lift & Facebook Groups is a great way 

Hey Chris, 

So much plays a role in prop taxes & here in Fort Worth, TX my prop taxes are $3,500 on a $185,000 house. But that's because of the area we have a SFR in. If that same SFR was across the highway we would have about $500-$1500 higher taxes, due to the neighborhood.

A family member of mine has around $300K in equity in their home. They are never planning on moving and I have been trying to convince them to pull out some of the equity and buy a rental. 

Their main argument is they don't want to have to pay back the equity they pull out. I know, you cannot get someone to do something they don't want to do but one spouse is on board with it but the other isn't.

Any suggestions on how to use that $300K equity while not having a large monthly payment for it?

HI Matthew, 

If I am in your shoes, I would purchase my own property and let someone else pay down all or most of the mortgage.

Unless the SF doesn't have a back apartment or an ADU I would stay away from it IMO.

I would go for the duplex or event trip/4plex and house hack that, or go for the SF with an ADU & house hack that. I don't think staying in your current situation is going to get you any closer to where you probably want to be - financial freedom/investing.

Hi Cheryl, 

I think like everything in real estate: it depends 

In my opinion if you already know those individual contractors well and have done/seen their work in the past why not use them again.

If not, then I would let the CG do what they do and let them schedule all the subs

check out Furnish Finder instead & think about changing your target audience to traveling nurses if possible