All Forum Posts by: Thomas Staub

A business partner and I build a luxury resort, spent $110K of our own capital, leveraged cheap debt at 4.25% for $350K, pocketed $250K in cash flow over 36 months and sold for $1.5M. 

Excluding Zillow, Redfin, Trulia, Realtor.com, and local agents, where else can we find ACCURATE appraisals/comps for single family homes? Local agents wont do it if there is no financial benefit for them. I am finding my own off market deals but have no idea how they will appraise after rehab and so when planning for a refinance, it add a lot of risk in the deal. Thanks!

@Chris Clothier - thanks Chris. So basically Norada and RWN are coordinating the paperwork and promoting the properties to vetted  investors, which doesn’t require a license. Seems to make sense. Appreciate the feedback. 

@Leah Stuever - What if they do not own the properties? Frequently they do not 

How do realwealthnetwork, Norada and Memphis Invest sell properties they do not own without being license real estate agents? 

I have been talking to Tom Wheelright's firm, WealthAbility, and the cost is $15K to get started which is expensive and the agreement they make you sign is 100% one sided basically giving you no protection the product they offer is worth the money. I'm looking for any other option that is equally or even close to as good as what they offer. I'm looking for a long-term partnership with a top shelf tax and wealth strategies focused in real estate. Any recommendations would be greatly appreciated. 

Cheers

@Eric Veronica - I have a number in a few states, Alabama, Indiana, Ohio. 

@Wayne Brooks Thanks Wayne. Are you saying that even if I take the blanket loan route, because I'd have 10 conventional loans in the blanket loan, I'd be maxed out even if I took a blanket loan across all 10? So basically there isnt a way to restart unless I sell

@Franklin Romine - thanks for the comment. Do you know the rates in the market for blanket loans? Say the ask is the following:

$800K in total portfolio value

70% LTV or $560K loan

Amort 30 years

I have strong W2, cash reserves, strong credit score and all properties cash flow $200+ per door