All Forum Posts by: Ram Gonzales

I ran a nonprofit for about 5 years and have been part of creating several others. The paperwork isn't too bad, at least here in Texas. Once you have your directors and can clearly articulate your mission, you can create one relatively easily through LegalZoom. Cost will be around $600. After incorporating you'll want to then file for a tax exemption with the IRS. On an annual basis, the administration is mostly meeting minutes, resolutions, and annual filing of your 990, most of which can be outsourced depending on your budget. Happy to answer any specific questions.

ENV Title is also great. If you need some JV funding for a deal let me know and I'll take a look. I'm also in SA.

I recently left a demanding full time job and am now doing consulting so I have more free time to invest in real estate. I'm most interested in funding deals with other investors who are better at finding deals (I'm better at finding money). I'd particularly like to work with residential land flippers nationwide who need funding for 30-60 days. Profit split would depend on the deal but generally looking for 50/50 and a minimum return. 

Where should I look for these kinds of investors and what red flags should I look for beyond the regular due diligence (title, survey, flood zones, etc.)? Anyone else doing these types of deals?

@Wayne Brooks That is a brilliant option! Thank you! I called a local bonding company and am looking into the process. I'm pretty irked that my attorney didn't bring up this option. Thank you again!

We have a property that went under contract to sell and during title, they discovered an "affidavit of lien" that was filed by a contractor whom we fired. His lien claim is for work he didn't do. Right now the attorney is telling me that fighting it would take 3 months or so. Anyone know of a faster way to clear it? I've already offered to just pay him off a lower amount but he won't budge, knows it is BS, but is extorting me for the the full amount because he knows I can't sell until it is cleared.

@Bob E. That's a really interesting approach. I'm going to look into that. Thanks for sharing!

I manage a small fund (less than $1M). To date, we've been joint venturing with other investors on flips and subto deals. I am now looking into how we can make owner financing the base of our business. I've been exploring what does a sustainable model for this looks like? ;

Here are some of the models I've considered. I'm not sure how likely some of them are. Has anyone had any long-term success in any of these or other models? Thank you.

Scenario A

1. Purchase the homes, make minor repairs, and sell with owner financing to create the notes. 

2. Sell the notes to note buyers. Rinse and repeat. 

Pros: No long term responsibility for the note. If I know what kind of notes the buyer wants, I can work backward from there in structuring the notes, properties, and buyers.

Cons: Discounts and other criteria from note buyers might make it difficult to find enough good opportunities.

Scenario B

1. Purchase the homes, make minor repairs, and sell with owner financing to create the notes.

2. Borrow against the notes or cashflow through a bank as a portfolio loan, business loan, or business line of credit. Rinse and repeat.

Pros: Repeatable and predictable. We still own the note and cashflow after bank loan is paid off. 

Cons: Finding a bank to do it. Qualification. Limits. Terms.

Scenario C

1. Purchase the homes, make minor repairs, and refinance through traditional lender.

2. After refinancing each property, sell on a note.

Pros: Due on sale. Longer process per house. Will the bank continue to refinance us if they see that past houses have been transferred. 

Thank you all for your comments. 

@Mitchell Benson Thanks for the ideas. I really like the T-shirt idea. I've tried Facebook marketing before with little success but, admittedly, I didn't really know what I was doing. Do you know anyone who specializes in this that I could hire?

@Michael Mullins Thanks Michael. What resources do you recommend for skip tracing? I've tried BeenVerified and Spokeo before but with little success.

@Ehsan Rishat Thank you. Sounds like a good plan. Where do you get their phone numbers?

@May Emery Thank you May. I'm in San Antonio, Texas. The Seniors with Longtime Ownership and FSS are new to me. Is that also available for my area?

If you had a $3K per month marketing budget, how would you spend it to create a consistent stream of motivated seller leads month after month? I've been investing for over 15 years but most deals have come from wholesalers or word of mouth. I recently raised a sizable fund to invest in rehabs, wholetail, and wholesale deals. I've budgeted about $3K per month for marketing. My immediate thought is direct mail marketing but want to see if there are better ideas or tips for creating an effective DM marketing strategy. Thank you.

Hi Jon. Check out GapClosers.com and give me a call.