All Forum Posts by: Mathew Paul

Here in St Louis one very large fund that's purchased many homes from me hasn't purchased in 6 months now. Another active real estate company just paused acquisitions and laid off part of their national workforce. I've seen some of the big funds sell homes for less than they paid lately. I don't see a 2008 crash coming but things are definitely pulling back. 

I know I'm not purchasing any rentals for at least 6 months until I have a better idea of where things are headed. 

DONT WASTE YOUR MONEY!!!

I’ve been in real estate for 12 years and decided to try Rebogateway. It was a horrible experience And a waste of money.

First they lied about the leads I could get with their service. They promised I’d get divorce leads, tax liens, bankruptcies and many others that they could never provide. I called them numerous times throughout the 12 month package I bought. Every time they would tell me that they are working on it and that I’ll be able to get them soon. They never followed through. So I decided not to renew.

Here’s the best part, they charged my card again for another 12 months of service without my permission! Now they are refusing to refund it even though i haven’t used it again since they charged me.

This company lies, and cheats. BEWARE!

DONT WASTE YOUR MONEY!!! Stick with List Source  

I’ve been in real estate for 12 years and decided to try Rebogateway. It was a horrible experience And a waste of money.

First they lied about the leads I could get with their service. They promised I’d get divorce leads, tax liens, bankruptcies and many others that they could never provide. I called them numerous times throughout the 12 month package I bought. Every time they would tell me that they are working on it and that I’ll be able to get them soon. They never followed through. So I decided not to renew.

Here’s the best part, they charged my card again for another 12 months of service without my permission! Now they are refusing to refund it even though i haven’t used it again since they charged me.

This company lies, and cheats. BEWARE!

DONT WASTE YOUR MONEY!!!

I’ve been in real estate for 12 years and decided to try Rebogateway. It was a horrible experience And a waste of money. 

First they lied about the leads I could get with their service. They promised I’d get divorce leads, tax liens, bankruptcies and many others that they could never provide. I called them numerous times throughout the 12 month package I bought. Every time they would tell me that they are working on it and that I’ll be able to get them soon. They never followed through. So I decided not to renew. 

Here’s the best part, they charged my card again for another 12 months of service without my permission! Now they are refusing to refund it even though i haven’t used it again since they charged me. 

This company lies, and cheats. BEWARE! 

For years I asked myself "how can I create an enticing partnership with investors on rentals?". Here is the structure I came up with and I have two different partners that have agreed to these terms...

Investor supplies all capital for purchase and construction. (i pay one investors interest on his line of credit and pay the other investor no interest)

Once property is generating income, we build up an emergency fund and then begin paying all extra income toward the loan. 

As long as this property has a loan on it, I agree to manage it for free(I pay people to perform repairs or maintenance). Once the entire loan is paid for I can either take a management fee for the current market rate or we can pay a management company.

I use the 2% rule(monthly income = 2% of purchase price). By sticking to this rule, if I buy a house for 100k and it brings in 2k per month then I should pay it off in around 6 years. 

I also add a clause that if the investor wants to sell early, we split the profit. 

To make the investor feel safe I sign a promissory note(I wrote up myself) and a file a deed of trust.

Hope this helps!

Awesome, thanks for the feedback guys!  

Wesley: This house is in a small town approximately 2 hours away, I hope to create a relationship with the agent so that we work together in the future...if this works out of course.  

I mailed the agent a referral agreement and she's excited to get the listing.  Hopefully it works out for all of us!  I've never done this before...

Oh, forgot to mention something.  I'm not a real estate agent...

I found a motivated seller that could probably sell her house for what she owes.  There is definitely not any room for me to make any money.  I found an agent with 10 years experience in her town that has worked with investors.  I feel like she would be a great fit and could really help this seller.  Am I allowed to receive a referral fee for giving this lead to an agent?  I don't want to get in trouble, but I also don't want to give away leads that I paid good money for!

Thanks

Make sure to get the sewer lateral scoped with a camera. Usually there will be cast iron under the basement floor which commonly fails after 100 years, and in St Louis, MO they ran clay pipe from the edge of the foundation to the alley where it connects to the main sewer line. This can shift and break or sometimes have tree roots growing in them.

The PERFECT way to figure out how to enter Real Estate is to listen to some FREE podcasts. They have highly successful investors as guests and pick their brain. It's an unbelievable resource! This will give you free(valuable) information and cover a lot of ground so you can get an idea of different ways to invest in real estate. I am a big fan of the Bigger Pockets podcasts but there are plenty others out there.