All Forum Posts by: Account Closed

What is the ARV on this house? How much work is needed?

I have lenders in the Orlando FL area that will lend up to 90% of purchase and rehab as long as the total is no more than 70% of ARV on short term loans. They also do long term loans.

The only way is to ask the sellers. The way I approach them is when I'm talking about what they want, they typically say all cash and at market price. Then I ask them what are they going to do with all that cash when we close? Many times they say well I'm going to invest it in something. Then I ask them is that investment going to pay you what you want? Is the investment a safe place for their money? Is the investment backed by some tangible item that you can sell if the investment does not work? This gets them to think about their plans. Then I ask them how would you like to take that money and invest it in something you are already familiar with and have 100% safety in your investments? Once they say yes then I discuss owner financing and how to will help their investment strategies. 

I took an online course that helped me pass the test the first time. It gives you several practice tests after you finish the chapters. 

The one I used is https://www.theceshop.com/

Are you a member of either CFRI or GOREIA? You need to belong to either one (I recommend GOREIA) to learn more about real estate investing. 

What kind do you need?

I like Southern Title and Abstract on Lee St and Southeast Professional Title.

In my opinion it is best to find the deals first. It is a lot easier to find buyers than you think. That is how I built my business. Right now I have 45 properties I'm marketing to my buyers list (which is growing daily).

Also an easy way to find buyers is to get with your local RE Agent and when you get a contract with a seller, then ask the agent to give you a list of properties that have been bought in that neighborhood with all cash in the last 3 years. They are more than likely investors. Then go to the county assessors website to see who the owners are of these houses. Then look for that persons name to see what other properties they have bought. The ones that own multiple properties are REAL investors.

Contact them and tell them about the property you have for sale in their neighborhood. 

In my opinion it is best to find the deals first. It is a lot easier to find buyers than you think. That is how I built my business. Right now I have 45 properties I'm marketing to my buyers list (which is growing daily).

Also an easy way to find buyers is to get with your local RE Agent and when you get a contract with a seller, then ask the agent to give you a list of properties that have been bought in that neighborhood with all cash in the last 3 years. They are more than likely investors. Then go to the county assessors website to see who the owners are of these houses. Then look for that persons name to see what other properties they have bought. The ones that own multiple properties are REAL investors.

Contact them and tell them about the property you have for sale in their neighborhood. 

In my opinion it is best to find the deals first. It is a lot easier to find buyers than you think. That is how I built my business. Right now I have 45 properties I'm marketing to my buyers list (which is growing daily). 

Also an easy way to find buyers is to get with your local RE Agent and when you get a contract with a seller, then ask the agent to give you a list of properties that have been bought in that neighborhood with all cash in the last 3 years. They are more than likely investors. Then go to the county assessors website to see who the owners are of these houses. Then look for that persons name to see what other properties they have bought. The ones that own multiple properties are REAL investors. 

Contact them and tell them about the property you have for sale in their neighborhood.