All Forum Posts by: Valerie Pedigo

Awesome, Tom! Nothing like turn-key at a discount. :)

I think Jesse means you could tarnish your rep by just marking up properties that everyone has access to. You are being paid to find great deals that other people can't get.

Also, try to find out why the people are selling. Ask questions that other people may not ask. Then you could get a 10K property for 3K, assign it to a buyer for 8K. You get 5K and your investor paid 2K less than the MLS price. Just an example...

Or leverage the cash you have on small down payments for several seller-financed properties. If you're looking to build a portfolio, this would be the most direct path and more and more sellers are holding paper. Good luck!

Ryan,
I'm not sure if someone mentioned this idea...
Have you thought about partnering with or becoming an instructor at a local college? So many more colleges and universities have entrepreneurship departments/degrees. You could not only have curricula focused on REI, but how to run and manage a business, etc.
There are a lot of adjunct opportunities all over the country and online. You may not get a percentage of your students' deals, but you would get to help others, make a little money, and show your expertise. Good luck with whatever you decide!
-Valerie

Hi all! Let's say I have a portfolio on contract (5 -2units from the same seller.) Is it better to market them as a wholesale portfolio or break them up and wholesale each individual house?

Thanks!

Welcome Jennifer (from a fellow WNYorker!!) :)

50K is not the minimum loan amount (depends on the program/lender.) There is truth to brokers/loan officers making 0 or paying in on smaller loans. We are paid up-front by points/origination fees (whatever you want to call them) and on the back-end on yield spread by the lender (wholesale dept.) There are add-ons that cut into the yield spread thus cutting the commission. The biggest add-ons are for loan size (i.e. under 50K), non-owner occupied properties, multi units. They are to align with risk. Smaller loan amounts, NOO are not performing well. So, if you have a combination of these, the broker's commissions are cut to almost nothing. The broker can add another point to make something, but then they may face high-cost issues (especially in NY.) That is why you/your clients may get turned down - the broker/lo doesn't want to bother.
I will ALWAYS do these deals, even if I only make a couple of bucks. Why? A little of something is better than a lot of nothing, referral business!, and the average home value here is about 65K.

Hope this helps.

Think about this everyday! :) Buy a little boutique hotel next to the beach in Costa Rica and live there, travel all over the world with my children, pay off my parents' debt.

Has anyone invested or had experience with IPIN (International Property Investment Network) based in the UK?

Welcome Charles! Glad you are here!