All Forum Posts by: Chris Piper

@Tyson Hosey If that is your plan, then you want either PML or Hard Money Lender. They will usually give you 6-12 months to repay the loan which will be plenty of time for you to repay the PML. The HML will charge you an interest rate+ponts on top of it. So if they charge you 15% interest+3 points, they are basically charging you 18%. Transactional funding is when you do a double close or A/B-B/C close, and the money is only out for a few hours to a few days usually. You close with the seller in the morning, and close with the buyer in the afternoon. Usually the costs run about $2,000-$3,000 to borrow that money for just a few hours. Good luck.

@Michael Newman Are you trying to analyze comercial deals or residential?

Thanks so much @Account Closed! That will make it so much easier to contact cash buyers as well as property owners without the wait of mailing to them 4 or 5 times.

Not a problem Chance. Send me a request.

Wow @Jared Vidales you're going to make a killing on that one. How did you buy it for $10? 

@Account Closed would you be willing to share the name of the service you use, and do you have to be a realtor to use it?

Not sure what happened with that file @Kevin Phu, but I deleted it and reuploaded it. It works now.

@Brad Martindale So here is the process breakdown for you:

1. You find a motivated seller, you run the numbers to see if it's a good deal or not. If it is a good deal, then you make them an offer. If they accept, then you both sign the purchase agreement. Your purchase agreement needs to explicitly state that this contract may be assigned.

2. You find a cash buyer willing to pay you more than you paid. You guys both sign the assignment agreement, and you collect a non-refundable deposit from the cash buyer.

3. Submit all the docs to your title company and let them know you're doing an assignment.

4. You close and get paid. Pretty simple.

@Kevin Phu Check the files section again. I just uploaded a purchase agreement and an assignment agreement.

@Melinda Campbell That is a strategy that will nevr work. When someone has a house that doesn't need any work, they are not going to accept a lowball offer. The only people who will accept a lowball offer are motivated sellers. You need to find motivated sellers who have a property that needs a lot of work. Then, run the numbers on it and see how much you can afford to offer, and make sure you have accurate repair costs too.

@Account Closed Is the cash buyer's phone number listed somewhere in the information when you pull that list of solds?