All Forum Posts by: Erin Elam

I hope that I am posting this to the right forum. Hello BP I hope everyone is doing well.

I recently signed up for DHS. At that time asked about being able to do business in the name of my LLC and was told yes. I ask because some other lenders that I had questioned advised me that they would only lend in individual names. Has anyone with an LLC use DHM? I am now aware that they require contract to be assignable and that they put the property in the name of their LLC, an SPE.

I am having trouble understanding how my business is still relevant when obtaining lending through DHM. Their spe LLC is going on the title, it's going on the mortgage, it's going on the deed. I would like to hear from anyone who owns an LLC and was able to obtain lending with DHM and still be able to use the business for what it was created to be: an entity in which to invest in real estate.

How does my company show it engaged in expenses? If my company name is not on any documents, i.e. contract, mortgage... etc. When they send me proof of funds letters, my business name is on there. I have tried to ask customer service and I keep getting copy and paste answers vs someone just explaining the steps on how my LLC will show that it is conducting business.

I am aware that hard money is expensive, but it should still be able to do its job, which is to help my company and I make profits.

Any and all help would be greatly appreciated as I paid quite a bit of money and I hope that it doesn't end up that I fell for a scam.

Thank you, 

Erin 

Hello everyone, 

Hoping I can bump this thread because I know there have to be realtors in North Dallas/Denton/Frisco! :)

Are there any realtors some of you have worked with and would recommend? 

All help is appreciated. 

Thanks, 

Erin 

Hello BP world, 

I am new to the North Dallas area and looking for knowledgable investor friendly agents in the area. After searching the forums I have found a few agents that I've reached out to but figured I might get better contacts by asking for referrals :).

My goal is buying/rehabbing/selling and the areas I'm interested in are: Denton, Frisco, Saginaw and the areas in between. I am looking to get started asap.

To that end I am also looking for reputable GC's in the areas mentioned above. Any direction would be greatly appreciated! 

Thank you for your time, 

Erin

Great story!  Very encouraging! 

@dave metsker @rick Harmon @mike Watkins thank you all for your replies about this particular niche of investing.  My question to you now is to again ask an opinion.  We all know this is a sensitive niche. If the estate has put out creditor/debtor legal notices, do you think that is a 'good' time to begin marketing? At this point are they more focused on moving forward?  At what time in the probate process do you find the most favorable responses? 

Thank you, 

Erin

 Thank you for your opinion. 

Hello BP,

For those who have successfully marketed and close wholesale deals with probate: what approach worked for you? I've heard some send condolences, some don't; some mention the estate and still others market without ever mentioning someone died. I'm currently trying mentioning and not mentioning,  to see how it works for me; but I'd like to hear from those who have been there and seen something work. 

Thanks, 

Erin

thanks @jeff Copeland! That's great advice. 

 Have you worked with this buyer before?  I would think they should know if they double cross you like that their rep is going down.  Loss of future business for $20k? If they are a true investor I'd think they wouldn't want to take that risk.  JMTC ;)

For those licensed suggesting getting licensed: Once you got licensed did you have to work under a broker? How do you keep hands out of your pockets and out of your deals?