All Forum Posts by: Andrey Y.

@Andrey Y. once you have the app installed then just open the app, plug in your ledger to your computer, and it should walk you through the pin authentication process. if you don't remember your pin then you'll need your 24 word recovery seed to regain access to your account.

@Andrey Y. yes ledger used to have a chrome browser extension, but now they have dedicated desktop apps you can download. You can access your coins if you remember your 4 digit pin number, or have the 24 word recovery seed, which you should have written down on a piece of paper when you first activated the device

@Andrey Y.

Dear God, a bit of an exaggeration? Just wait until you can't get conventional funding anymore. Those 4-5% termed out rates will be a thing of the past. If that rate get's the deal done for you now and the numbers still work, who cares. I would take a 20% loan if the deal depended on it, the numbers still worked, and it helped me reach my goals. My two cents! Best of luck though, truly.

I had a woman call about a horse property. It was a 100-year-old farm house on 5 acres. She was starting a new job as a barista in a little coffee hut which means she probably wouldn't be making much. After talking to her a bit, she asked if it would accept animals. I asked what she had.

Four quarter horses, ten miniature horses, four dogs, three cats, and a raccoon that lives in a cage 24/7.

She was moving from Kansas to Wyoming with all those animals and expecting to find a rental that would take everything and be affordable on a barista salary!

Grant is speaking in London UK in a few weeks. I will be attending. Let's see if he shares much. This event is a 2-day event where a number of people I know are speaking or attending. Grant is just one of the speakers.

I have 37 investments with Fund That Flip. I have spoken with both Matt and Stephen who are co-founders and they have been responsive to my questions. They seem like ambitious guys in their 30's and 40's who have flipped houses themselves and have worked in the finance market before starting FTF. They started out with about 10 people. Now they have about 20 people working for them. They are increasing that number to 30 next year. They are based in New York City and Ohio. According to them, they have raised money for their company and have access to 50 millions to use to fund loans. They fund all their loans first before crowd funding.

My apprehension with investing in crowd funded flipping platform is that A LOT of them have gone under. Therefore research is crucial to understand the risks. https://www.therealestatecrowdfundingreview.com/to....

One of the concept that was important for me to learn was DEBT VS EQUITY financing. Debt is much better since in an EQUITY financing if a company goes under investors will get crumbs after the company gets bailed out first. FTF is a DEBT financing platform. All of  their loans are first position mortgages with personal guarantee meaning if foreclosure does not meet the debt requirement, FTF can go after the borrower's personal assets.

Every loan has an appraisal report which I browse especially to eliminate properties on the flood planes. I have not found one yet. House needing flood insurance are hard to sell. Having access to the MLS, I have done comps on houses that are on the platform from CT and the appraisals are pretty close. FTF also cross checks the appraisals. You will notice that they only fund less than 70% of ARV and the borrowers have skin in the game.

I have asked the pressing question. Have you had to foreclose on any property and has the investor lost any money? Technically no on foreclosure, but one borrower handed over the property via deed in lieu. No loss on any investments. 

I also like Peer Street which is rated well. I chose to invest in both but prefer FTF for the higher interest rates. I like it that FTF know their flippers since they screened them and follow them.

A flipper I know told me that FTF appraiser literally showed up the next day after the application was approved. He was happy that everything happened quickly and efficiently. 

I am thinking about taking a flyer on Cardone Capital Equity V with a small investment. I like his videos and podcasts about real estate. Seems to be focused on Class A, large properties that could be acquired by REIT's and PE funds. He boasts of a long track record.

The fund holding period is 10 years, so it requires a long-term commitment. This is different from many of the syndications I've seen, where the sponsor tries to give your money back within 5 years.

I am in some syndication deals but due to not being accredited, I don't see many opportunities to invest in Houston, Atlanta, Florida and other areas that GC invests in.