All Forum Posts by: Sean Blomquist

Are you tired of going to free real estate education events full of fluff?

Are you sick of people on stage teaching nothing and selling everything?

Are you sick of the so-called experts on stage not understanding your market and probably not even doing deals themselves?

Here is just some of what you will learn:

• How Hard Money is making it possible to make a seven figure income
• How to buy rental houses with no money or risk
• How to protect your hard earned assets from lawsuites
• Local lender panel
• How the MN foreclosure process works and how you can use it to get more properties
• How to do a 1031 Exchange
• How to turn your real estate investing in a cash flowing money machine
• How you can quit working for The Man and do what you love for the rest of your life

Plus get a chance to network with local expert speakers, vendors and guests that can help you accelerate your business and become the super investor you have always wanted to be.  

At the end of the day, we will even buy you your first drink at the bar so you can stay and network with all the speakers, vendors and other investors.

To register, you have to go to our website: www.mniss.com

Can't wait to see you there!! 

@Hubert Chen a HML is NOT CASH. It works like cash in most cases, but you need to be up front with the seller and the title company about it being financing. It is not traditional in any way, but is still financing. Have your agent mark OTHER in the type of financing and write in either HARD MONEY or PRIVATE MONEY. That should work for the finance part of it. If you are putting any money down, you can put that as the % of purchase. It will depend on your HML and the % amount they will finance.

Good luck!

@Tayler LaChapelle shoot me an email, and we can discuss funding this for you.

@Account Closed.  He will be able to get you some info.

@April Benard I would stay away from trying to paint cabinets.  To do it correctly, can end up costing you quite a bit, and the time involved isn't worth it.  Better to put in new, fresh cabinets for just a little more money.  There is no point in making the entire house look like new and then have old cabinets that are painted in one of the most important rooms in the house from a sales standpoint.

Who's ready for another Investor Property Tour? If you are interested in seeing a home that we have under construction or will soon be under construction or was just completed and ready to sell, this is the event for you. This event is free and loads of fun! On our property tours we like to "let our hair down" in a more casual atmosphere and let the conversations run themselves to benefit our members while walking a few properties that are in various stages and highlight a few topics in each. In order to have "LIVE" deals, we announce the starting location to the first property the week before (typically a week before so you can plan accordingly for the following week's tour).

In the past we've had great response to this format... casual seems to fit well when looking at beat-up properties and properties under construction.

We will be looking at a listed property, and two homes that are under construction or near completion. Again, in order to find out where we'll be starting each tour, please add yourself to the meetup group (TCREI) and rsvp to this event and you'll receive tour info a few days prior to the tour.

Whether you're an experienced investor or a novice, this is a key piece that you need to know.

Find out how savvy investors handle this important behind the scene task that can make or break your deal.

This is one thing that you need to be educated on and make sure you have the correct coverage for your investment property. Many investors are unaware of the coverage they need, and some agents are not selling them the correct policy. The agent may not be able to offer or may not even know what coverage you need. Shawn Pehrson (Farmer's Insurance) a local investor/agent for the past 5 years, knows the coverage investors need. He will explain why specific coverage's are not correct and answer any other questions you may have about how to make sure your assets are covered properly.

We meet once a month to bring real estate investors together. The meeting is free and is based around networking. Have a property to sell, service to offer or just want to join the local real estate investor scene please join us at our next meeting.

@Account Closed in MN and CO we charge 4 points and 15% on a 9 month term.  All lenders are different, and some do require 20%+ down.

In reference to Andrew's comment, we are a true no money down lender. If our 70% ARV covers all your costs (purch, repairs, CC), then we will cover it. Anything we can't cover, you would need to bring to closing. You would then make the monthly interest payments only as long as you have the loan, no prepayment penalty. We don't take part of the profit on the back end either.

But, like I said all lenders are different.

@Thomas Williamson it all depends on your HML. We loan up to 70% of ARV and will cover as much as we can. If your purchase, repairs and CC come to more than our loan value, then you need to bring the difference.

Like I said though, it depends on your lender.  Some may require a specific % down.

Hopefully that helps.

@Shekeira Ward it is considered just a rate and term refinance. Depending on how many properties you have, then end lender will loan 70-75% of the end value. That would be enough to pay off the HML if they loaned 70% of ARV like we do.