All Forum Posts by: Thomas Peddle

I'm finally ready to pursue some creative financing (motivated seller) opportunities and am looking to work with a title company in the Chicago-land area, preferably in the Aurora/Naperville area, who have experience working with RE investors. 

Any recommendations would be greatly appreciated!

Jhamal, I'm NOT a wholesaler so take what I say with a pinch of salt. 

I watched a YouTube video last night from a young wholesaler demonstrating cold-calling techniques for motivated sellers. He used Craigslist ads in the FSBO & FRBO (rent) sections for prospects.

A major takeaway from him was that he will call ads that are obviously from RE agents or fellow wholesalers for the networking opportunities and leads. The FRBO calls typically are landlords who may be interested in buying properties.

Essentially, cold-calling sellers can often help build out your buyers list. 

Bart,

If you are looking for a commercial lender for the 70+% cash-out refi, I can give you the name of the bank I use in the western burbs.

@Jonathan R. Can you claim the interest from a 401k loan as a business expense?

Davis, Great news on your opportunity.... Getting outside your comfort zone is the only way to grow and succeed. 

I'm similar to you, some deals under my belt using an agent and MLS, but am exploring seller financing to really grow my portfolio.

I actually spoke to my agent about this. He is also a RE investor and he has facilitated seller-financing deals in the past. He will handle all of the details for a fee of $1K. I plan to work with him to accomplish this when the opportunity presents itself.

Please keep us in the loop with your closing!

Cheers,

Tom

@Michael Lewis what’s the square footage like? Is there potential to cost effectively rehab the 2br into a 3br?

I also use CL and Zillow, as mentioned by others here, to setup ongoing rental email alerts for properties similar to mine, to get a sense of current demand and to set rental future rate adjustments .

@Jesse Harris I use rentometer for comps. You can specify the number of bedrooms or set a 1-4 bedroom summary. A pro feature (?) provides Google street links to the properties for finer screening. Cozy also offers a paid ($20?) rental analysis as well.

@Ayman Bayoumy I recommend cozy as well and would like to point out that, although takes 5 days (unless pay for express payment), the system will email you with payment process details.

Thanks to everyone for your thoughtful replies. It's great to have such a community available to count on for support!