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All Forum Posts by: Preston Miller

Preston Miller has started 4 posts and replied 17 times.

Post: I need Funding/Partnerships

Preston MillerPosted
  • Jacksonville, FL
  • Posts 17
  • Votes 6

@Corey Clarkston Thanks for the recommendation. I am looking for any area that is not 09 or 08.  I like Arlington, Mandarin, Southside, Orange Park and Oakleaf areas. 

Post: I need Funding/Partnerships

Preston MillerPosted
  • Jacksonville, FL
  • Posts 17
  • Votes 6

Hello everyone!

The time has come! I have spent the last six months digesting this amazing industry we call real estate investing and I am ready to start finding properties and making deals. I have listened to countless podcasts, read several books and most importantly worked with several rehabbers in the area learning their systems and how things are done in my market. I am ready. I have boots on the ground in the Jacksonville metropolitan area. I have several wholesaler contacts, I have a couple of great contractors that work specifically with investors, and I have three agents that are excited about selling a bunch of houses for me. 

Thing is, I am new and just like any new venture, capital is my largest hurdle. I am looking for investors who are willing to work with me. 

So, if you are interested in working with me, please send me a message. I look forward to hearing from you. 

Thanks!

Post: 20 Year Old Completes First Wholesale Deal

Preston MillerPosted
  • Jacksonville, FL
  • Posts 17
  • Votes 6

@Jordan Santiago Great job! Keep up the good work!

Post: My BRRRR strategy success story

Preston MillerPosted
  • Jacksonville, FL
  • Posts 17
  • Votes 6

Great job on this deal. I really can't wait for the day I get to post mine! Very motivating. Thanks!

Post: My BRRRR strategy success story

Preston MillerPosted
  • Jacksonville, FL
  • Posts 17
  • Votes 6
Originally posted by @Nicole A.:

@Account Closed He spent $90K just to purchase. Then he spent another $25K to fix up, and however much in closing costs, and holding costs. Assuming his ARV of $150,000 is what the actual appraisal came in at, and say they offer 75% loan to value, then they gave him about $112,500, which is a little bit less than the total cash he put into the deal. ;-)

 That was explained really well. Thank you!

@Nicole A., no, the comps are on par with the asking price. I looked at that next. I think I was confusing the tax appraisal and the actual appraisal. Wish it was that easy! lol

@Jon Holdman HA! Thank you, sir. I knew it would be a simple answer, but one that I was simply not aware of. Perfect.

So, I was pursuing some wholesaler listings and noticed that the county appraiser's values are 30k-40k less than the wholesaler asking value. Which means it is WAY below what the market would demand. And I notice that comps in that area are listed sold at around the same amount. This leads me to believe I am missing something. Anyone? :)

Wonderful post. I like what you had to say about being “lucky”. You’re right. It’s more about determination. With the right mind set how much money you have doesn’t matter. Anything is possible.

Post: I need help with finance basics

Preston MillerPosted
  • Jacksonville, FL
  • Posts 17
  • Votes 6

@Brent Coombs yes I do, Brent. That was perfectly explained, thank you so much!