All Forum Posts by: Salvatore Lentini

@Cole Simpson - Personally, I find it much more interesting and rewarding.  That being said, I think it's smart to progress from smaller deals to larger deals as there is a lot to learn along the way.

@Ross Bowman - 1031 is just a tool not a rule :)  Do what makes sense for YOU!

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@Dave Ryan - message me with anything you need help with.  Happy to advise.

@Andre Darby - are you talking about buying a tax lien certificate?  By buying one you don't acquire the property.

@Chad Ullrich - it's not dumb to make a low offer.  It all depends on your strategy.  If you're looking for "the best" deal you'll need to make lots of low offers to get one accepted.  Nothing wrong with that.  But you need to make sure you don't fall in love with any particular property.  That's true no matter what your investing strategy is.  These are investment properties...not your home.  The numbers need to work.

Now if you're looking for a solid, cashflowing property and you're ok with not getting the absolute rock bottom price, then make an offer that's lower than asking but not so low that they don't respond.  Your realtor is always going to try and get you to offer more.  The higher your offer the more likely it gets accepted and they get their commission.  I always offer lower than what my realtor or broker suggests.  Sometimes it works and sometimes it doesn't.  You just need to make sure you're making a respectable offer.  Even if it's lower than what the seller wants, they can always counter.  If it's too low you run the risk of pissing them off and just flat out not responding.  I've reacted that way when selling a property.  But again, you absolutely can make super low offers as long as you are ok with having 99% of them rejected.  All depends on your strategy and your long term plan.

@Chase Vercelli - you can get financing if you have mid 700's and down money.  Message me and I can put you in touch with several investor friendly lenders.

@Ladd Austere -

1) Depends on the borrower and the property.  About 1-2 points difference.

2) That question is a matter of opinion and also depends on what you're looking for.  I like to invest in my own backyard as much as possible.  Areas of the midwest have become popular because of the low cost of living and the current pandemic.  Not sure if that will last post Covid.  I'm sure there are people that believe it will and others that think it won't.  The south/warmer areas have become popular as well.  Again, not sure how long this will last.  Depending on global warming... those "warm" areas could become "too warm"?  Maybe the more moderate areas will warm up and become the new "warm" areas?  Depends on how long of a time frame you are planning to invest.

3) As mentioned in #1, there are lenders that don't look at W2s or tax returns.  You'll pay higher rates but depending on your credit score and the property they're not always THAT much higher.  And a lot of times you can buy down the rate.  I'm getting a 4.0% 30 year fixed from one of these types of lenders.  I have really good credit, a lot of experience and the property is in a good area with strong cashflow.  If you find a deal feel free to message me and I can put you in touch with the appropriate lender :)

Hi @Natasha Shamoon - happy to provide answers to specific questions and help get you started in the right direction.  Message me :)