All Forum Posts by: Upen Mody

@Phil Scheiris  I honestly find that you are drawing far fetched conclusions in your post.

Attitude -- It’s a big leap to say my attitude is “piss poor”. Calling a spade a spade is not poor attitude. Recommended approach would be not draw personality conclusions and stick to the topic.

Use of blogs/forums to vent their problems -- I don’t know what your experiences has been in the past with forums. In this specific case, I shared a problem and asked for suggestions, not pity. These types of forums are built to share challenges and seek recommendations.

Condemning a whole group -- Certainly not doing that, in fact I have a couple of very good friends that are great wholesalers and work really hard. But then there are a significant number of other ones that are short sighted, trying to make a quick buck at any cost and giving the broader group a bad name. Maybe the gurus are the ones that are polluting the community with $995 courses for bird dogs and wholesalers.

Ignore the bad wholesalers -- How exactly to do that? Generally the wholesalers seem to forward deals from other people, so it’s almost impossible for me to figure out who really has the deal!!

I think a more helpful approach would be to offer solutions instead of suggesting to ignore the issue and reality. 

I am tired of wholesalers that exaggerate ARV in their listings. Living in South Florida, I feel like pretty much all of them put unrealistic ARV in their emails as there is no accountability. Should I not expect any ethics in this business? Where are the good wholesalers in South Florida??

I'm interested in thoughts on how to deal with this? Should I just ignore the wholesalers and find other channels?

Upen

There are a number of hard money lenders but obviously the rate will be pretty steep. How much are you looking for?

Used asset based lenders instead of income based. You will have to pay higher APR and points!!

I wish the 7 day timeframe was applicable for all the applicants...not just active service member. In this day and age, there is no reason an application eval should take more than 7 days. 

interesting. Some of the HOA's drag it for 3-4 weeks so this will be awesome. Can you post a link to the article?

Just curios to know...that is the significance of first mortgage being twice the size of second?

@Mike H. where are you buying these houses?

@Jay Hinrichs is there any additional/different documentation required for a loan to a LLC commercial property compared to loan to a LLC on a residential property?

@Jay Hinrichs what is the commercial building is a restaurant that can be used by other tenants?