All Forum Posts by: Travis McCamish

@Aaron Mazzrillo I noticed your profile stated you were a wholesaler as well. I am curious as to what your strategy in wholesaling is?

Hey @Ray Gonzales How did the leads from myhousedeals.com work out. I was looking to find motivated sellers myself and don't want to waste a lot of time or money.

@Zach Schaar Are you using SEO for finding motivated sellers? Can you give me a quick explanation? I am looking to find motivated sellers in my area and was wondering what the best tool was?

I have a potential deal I would like input on. I had noticed your discussion in another forum and thought I would invite you to share any and all insight you might have for me.

6 properties selling at around 25K a piece all with an 18%CAP. Homes were bought from the bank for around 18K- 20K a piece, and seller is looking to basically wholesale the houses for a quick profit.

The idea is to buy them with HML, do the minimal maintenance and repairs required to get them in shape, sell 4 of the 6 properties for around 1.5 times the purchase price, keep and rent the remaining 2.

If there is still money owed on the HML, then I will create a note on 1 of the remaining house and sell the note to pay the HML.

-@150 K (6 houses)

+@150 K (selling 4 of the 6 after repairs)

if a balance remains,

..@75K (value of remaining 2 house after repairs)

..@10K (a year in rental income including taxes, insurance, home warranty)

Create a note on one of the properties and sell it to cover the remaining balance of the HML

=Hopefully passive income and a good amount of equity.

@Shaun Reilly

@Jensen Jeune

@Justin Silverio

@MarkSavalle

@Marcia Maynard How would I go about opening that kind of credit line?

Thank you for all your words of encouragement. @Brant Richardson My plans for my first deal are to find a single family or multifamily unit that I can acquire with little down and mostly seller financing here in the Tempe area. What would you recommend? Thank you @John Moore and @Account Closed for the welcoming party! I am excited to build my portfolio and learn as much as possible along the way.

Hi everyone,

This is my first post on BiggerPockets. I wanted to introduce myself. My name is Travis and I am from Dana Point, CA and have a passion for investing in real estate. I am not a seasoned veteran in this arena, but I do have a few sharp tools in my toolbox. If anyone has any investing knowledge or experiences they can pass my way, by all means please share. I look forward to learning from all of you, and seeing where this journey takes me. Thank you

Bradley,

When structuring an offer that includes a seller carry back, I like the owner financing to be equal or less than the down payment (10-20%). Also 3-5% interest either amortized or interest only, with the loan maturing in 3-5 years. This is generally acceptable, although some owners will not entertain the idea. It is key to understand the seller's motivations. Make sure the offer is structured to benefit the seller as opposed to hindering their ability to re invest their gained capital. For more on this topic, listen to the recent Bigger pockets podcast show 47, at about 42 minutes in, they start to discuss the cost of seller financing to the seller, and why higher carry back will not allow them to pull profit from their deal (at least in the short term.) As far as lease option assignments, you will find it is very difficult to assign a lease option without having to personally guarantee the performance of the assignee ( i.e. make their payments ). Speak with an contractual attorney because there are laws that apply to the assignor when conducting this type of transaction. Hope this helped.