All Forum Posts by: Jeff Filali

NOT LEGAL ADVICE...

My understanding is you can leave it off your business cards, logos, others advertising items. But not on checks because they're a legal contract. Any legal document or contract would have to show the full legal name. Even if you established a DBA or fictitious name for the LLC to operate under, on the checks and legal docs/contracts, it would probably have to show "The Exploration Group, LLC DBA Exploration Group"

It doesn't need to be fancy.  You can simply put them all in an excel spread sheet and also have a separate file with photos, and most investors will also want to see the full financials.

Minimum information on each should include: (You can make these the columns on spread sheet)

STATE

PROPERTY TYPE (SFR or Multi)

ADDRESS

SQ FT

BEDS

BATHS

MONTHLY RENT AMOUNT

OCCUPANCY STATUS

LEASE INFO (HOW LONG)

TAXES

NEEDED REPAIRS

RECENT REPAIRS/IMPROVEMENTS

IS THERE PROPERTY MANAGER

ANY ADDITIONAL INFO THAT YOU WOULD WANT IF LOOKING TO BUY

@Jay Hinrichs Everyone wants to ask for others help and say if they only had money they'd be successful at this real estate thing, but no one really wants a job or to actually have to work for their money.  They want someone to give them a few hundred thousand dollars and let them do what those flippers on TV do.  Its just like the panhandlers with their "Will Work For Money" signs, if you offer them a job, they won't take

I honestly think you may be better off forgetting about someone with real estate experience, and find the best mid 20's-early 30's go getter proven sales person, who's proven they can grind but are in the wrong business to get over the 6 figure hump.  That's who I'd want on my team. 

If you decide to expand to Oklahoma, let me know. 

I'M NOT A BROKER...

I own a few properties that I sold with CFDs, and am considering selling the performing notes to free up capital.

All are 1st lien CFDs on SFRs I own free and clear. 

All are 10.0% APR and range between 3-10 years, with UPB of between $12K-50K.

All paid a min of 10% down payment and have been seasoned 6 months with no late payments.

Also all include servicing fee, escrow for taxes and insurance.

Asking price is firm at 90% of UPB

Also have a few non-performing, or delayed performing, they pay but always late, that I would consider selling.

For more info email [email protected] with NOTE INFO in sunbject line.

@Ryan Dossey Would you pay $2500-5000 to a wholesaler for a good deal?  Look at it from the same perspective.  When I say averaging $2500-5000 per deal, I'm talking actual purchased and closed property.  I get more leads of course, but it takes X leads to generate Y good leads to generate Z potential deals to generate W actual purchased and closed deals.

My targeting specifics is not something I share because there's others from my market on BP.  You have to adapt to what works for you in your specific market.  I changed mine a lot over time.  I prefer to get less leads, but better qualified leads.  At first I was killing it getting so many leads...but then I realized I was having to work through a lot of leads where there was no potential deals.  So I adapted the targets and ads until I came up with what gets the best results.

One thing for sure that helps is tracking every campaign on both ends. You have to know what is working and what isn't to maximize ROI on marketing dollars.

Everyone's "fancy" is different.  One man's castle is another man's shack!!

I choose to live a very frugal lifestyle, in what I consider a middle class neighborhood, but very safe low crime neighborhood.  Homes in my neighborhood were built in the late 1970s - early 1980s.  Mine was a foreclosure home before I purchased it, and has been fully updated over the last few years.  Its HOME to me, but I wouldn't consider it "fancy". 

Nope, IMO its a bad deal that you're trying to talk yourself into.  Find a better deal.

The only numbers you needed to figure that out-

Total Purchase Price: $602K

Rental Comps: $2950-4500 (0.5-0.7%)

You want to look for between 1-2% or above, and closer to 2% the better, but its almost impossible for the numbers to ever work on a deal below 1% rent rates.

A 30 year note on $424K would be right at $2,000 mo before adding in Ins, Taxes, PMI, Prop Mgmt, Reserves, etc. The numbers would be way to tight.

Here's the insurance we use for our investment properties. They've saved us a lot of money.

NREIG- Insurance for Real Estate Investors

FREE LEADS TRAINING: for Real Estate Investors & Wholesalers

"This is the same leads system I personally used to go from $30K in my savings as a newbie starting off 18 months ago to now owning 9 properties FREE & CLEAR with NO Mortgages and making well over 6 figures flipping this year." - Jeff Filali, Okla.

CLICK ON IMAGE TO LEARN MORE & SCHEDULE YOUR TIME SLOT... LIMITED FREE SPOTS AVAILABLE

@Mike Evans sent the details to you.