All Forum Posts by: Seth Mosley

hey all

What are your guys' estimated costs to refi these days?

Just trying to figure out a plan on a 5 year balloon before I get there

ok. So I realize this may be a loaded  and polarizing question, but just putting it out there:

What is the point of having a wholesaler?

Isn't that what real estate agents are for? To "find" the deals?

I say this out of my only experience dealing with wholesalers, has been a lot of them that have sent me potential deals, none of which have been great deals at all. Maybe I haven't found any of the "good ones" yet and I realize that any good deal that comes my way, no matter what route, is good. But it just seems like the market is very low on inventory as it is, and the deals are hard enough to come by, so it seems to be a precarious season at the moment for one to get into wholesaling. How can they find a deal that we (investors / agents) can't?

Is the market just over saturated with over-eager, under-experienced wholesalers out of guru seminars?

I say all this to say, if you indeed are a wholesaler, then by all means, find a great deal and bring it my way (and get paid of course). But so far, I haven't had such an experience yet.

Interested to see responses from wholesalers, investors, agents...

$30k In Nashville is impossible as far as my experience is concerned, unless you're in a warZone.

My lenders don't really loan under 50k deals

I like joes idea with buy it cash and refi 

@Joe Villeneuve 

all of my deals (sfr and multi family) have been 30 year fixed - 25-30% down - rates from 4.375 to 4.875

You can get up to 10 of these, assuming you qualify and have reserves.. But I think that is definetely the way to go, leveraging to get a better coc return, then buy more doors.

Not sure what most people shoot for in their first year coc returns, but my goals are usually around 15% coc at 50% rule expenses. Probably differs from area to area.

Super helpful! I am almost there to maxing out my 10 conventional mortgages and beginning to look to portfolio / commercial loans as my next step... Gotta keep adding properties to the portfolio somehow!

Hey guys! Writing to get some opinions on this as I've had mixed thoughts... Do you buy and hold investors out there think it even matters to do a physical walk through of a property you're thinking of buying? Or does a thorough home inspection suffice? I've wondered a few times after physically going through a property myself if it is better just to hire an inspector in the first place... Especially if it's not a local investment. I own one that I've had for a year, sight unseen purchased, no problems, great management, great rehabber...etc etc Thoughts?

anyone else have any experience using neighborhood scout for investing in other markets?

Seems like a great tool to me so far! Pretty accurate?

appreciation is something I appreciate. I don't count on it though

Originally posted by @Michael Gomez:

Hey Y'all Mike Gomez here! Licensed agent- They call me mike "The HUD" Gomez- when it comes to REO's i have done the all- Feel free to pick my brain and let me know if my Team and I can assist you! and yes, I play in a band.

 Welcome my brotha!

I'd look for a better deal personally