All Forum Posts by: Casey Spivey

There are about 50 (maybe more) different threads on finding motivated sellers with many different opinions on what's the best. Is it possible to post a poll where everyone can rank the best to worst? This would give an overall consensus on what is working the best for the majority of users. I supposed this type of poll could be transferable to other subjects as well. Thoughts?

I hear ya there. For me the search option is definitely needed but the mail merge will be icing on the cake. If there is ANY way I can help you out just let me know! Thanks Danny!

Hey Danny!

I just downloaded your flippingjunkie.com database and like what I see so far. Since I will have multiple users the web based aspect will be great. Just wondering if there is any plan to add search criteria for loaded records and/or add a mail merge option. I believe those two additions would knock it out of the park. Keep up the good work and let us know!

I dream and plan big! But ultimately your right in that I don't need to start that big from the get go. Revised plan is to start with two people, nail down the process, and once there is too much business for one person to handle then expand it out to three, four and so on. Thanks for your input!

For 2012 I have decided to move from investing on my own to building a full time investment company. My vision is to have six separate departments that will each be headed by a separate person. The divisions would be:
-Acquisitions
-Sales
-Project Manager
-Office Manager/ Marketing
-Property Management
-Financial (bookkeeping and securing finance)

I plan on taking one department on at a time and have roughly defined job duties. I've also kicked around incentive ideas but haven't nailed it down.

Anyway the purpose of this post is to see who else has approached their business this way and get some feedback, suggestions, mentoring etc. What do you guys think? Any and all ideas are encouraged. Thanks!

Thanks that helps. My research was leading me down the path that I would need a new 223(f) loan and that HUD was just saying that they would insure a loan on the property. An assumption fee of 1% sure sounds a lot better than new loan costs.

Hypothetically if the current lender is not able to do the deal what would be some of the best companies to call for a new loan? It would be for $5M+ and I would be looking for a high LTV rate and 35-40 year term.

What are the qualifications for an assumable HUD loan? I have ran across a multifamily complex and the owner states thay have already went through the HUD process and the HUD loan is assumable. He didn't know specifics and I have not been through this process. Anyone have advice or can point me in the right direction?

I just bought a smaller apartment complex and three of the tenants are on the Section 8 program. The previous owner was undercharging on rent and utilities and I want to increase it. The local housing authority is telling me that the tenants are not eligible for rent increases until their recertification is due. The problem is that they are 8-12 months out. Has anyone dealt with this before?

What colors do you use? Pictures?

I've been contacted by someone who sold a small apartment complex to a buyer through seller financing. The buyer is no longer paying and the seller just wants out of it. Amount owed and back taxes total $23,000. Appears the complex is around 50% occupancy. Unknown if tenants are paying. Current as-is value is around $80k-$100k. Repaired value is about $140k. The buyer is not responsive to seller and avoiding them.

How can I structure the deal to purchase/take control with the unresponsive buyer?

Appears that buying the note or a foreclosure are out of the question because the property would sell for higher at the sheriff sale. Deed in Lieu with extra cash would only work if buyer is willing but doesn't appear to be. Any ideas?