All Forum Posts by: Priscilla Z.

@Tim Porsche Hey Tim, I was told TD and Wells Fargo...I had a friend in my area go check both out since she was looking for a HELOC on her rental and she said their rates are pretty good.

Hope that helps! :)

@Justin Jocewicz thanks for asking the question....I came on BP tonight searching for this considering we have 20+ properties in the area.  I've been through two hurricanes over 10 years ago, and it was pretty bad as far as trees being down and flooding, but back then I was a carefree college student.  Now I'm a landlord/investor and a mommy.  Things feel much different for this one.

Either way I'll be checking in with some of our tenants tomorrow to see what their plan is, I agree with @Wayne Brooks, this one will probably not be as bad as the media is making it out to be (as they usually do) but it's not a bad idea to be prepared.

@Alex Yudin - do we need to buy all or would you be willing to sell just the ones in Palm Bay?

Biggerpockets we love you, you have been a big part of our success, therefore you ask and we answer, here is our video. God bless...

@Adam Lim - Welcome to BP and to our Brevard county investors family!  Let us know if we can help in any way!  We meet twice a month in Palm Bay so if you are interested in joining us let me know.

Hi Jon,

Considering how competitive the market is right now your best bet is to network with wholesalers in the area.

We wholesale occasionally so if you want me to add you to our list just let me know.

An investor friendly Realtor is always a good way to start too.  I can recommend a few good ones, starting with @Scott Schuetz, even though I don't know if it will work since you are both in the market for the same types of deals :)

Hi Brent, I'm an investor in the Melbourne area. PM me and I'll send you the state contract that we use and the assignment we use. I can also give you the title company we use that understands these transactions. Since it is a pre forclosure you need to find out how much they owe, and make sure that you can sell it for more than what they owe in order to make your fee. And if the deal is as good as you say it is I may buy it from you too :)

Wholesalers are great to work with, some of our best rehabs and best cash flow properties have come from wholesalers.  With that said, make sure to know your numbers as some wholesalers, both new and old, do not get the value of the property nor the amount of repairs correct since they haven't been on the "other side" as far as doing the rehab or being the landlord.

@Michael Pullins gave you some good advice about the title company.  PM me if you are in need of one and I will recommend the one we use.  You can also send me what you are looking for and I'll mention it to the wholesalers I know in case they come across anything.

Hi @Kenny Lewis. As a rehabber I use 70% of ARV, the ARV that compares to how I am going to be doing the house. Assuming that the 340's are the houses that are move in ready and completely rehabbed I would use 340K x 70% minus repairs, then as a wholesaler you would need to deduct your fee from that number that you come up with and that would be your offer.

I tend to run my numbers more conservative so I wouldn't use 340 I would probably use 325-330K and I would also go lower on the offer to the seller so that there is room for negotiating.

I've always used the 70% rule no matter what price range I am in, so I don't know why someone would not use it because it's over the 200's?

Hope that helps.

Hi everyone,

I no longer follow this thread so I don't get updates when people post here.  The program didn't work for me, but that doesn't mean it won't work for some of you.  I could have been the cycle my market was in, it could have been me, or it could have been the system.  I don't know what it was but it didn't work for me and I wouldn't do it again.

I created my website on my own.  No template, no system followed.

My recommendation, if you are new, educate yourself and choose the strategy that will work best you and master it.  Don't jump around from one shiny object to another, stick to one strategy and be consistent.

Read Biggerpockets and ask questions.  @Joshua Dorkin has done an outstanding job creating this site and growing it, use it!  

PM me if you want me to share with you what did work for me. 

To your success :)