All Forum Posts by: Vince Mayer
Vince Mayer has started 7 posts and replied 315 times.
Post: Whatever Happened to CREATIVITY In Real Estate Transactions?
- Wholesaler
- Arnold, MO
- Posts 348
- Votes 183
@Don Konipol "
"Unfortunately, after holding this very profitable investment 9 years, I lost it in a divorce."
Hmmmm. What was her ROI?
Post: help to buy a house going on foreclosure
- Wholesaler
- Arnold, MO
- Posts 348
- Votes 183
To assume an FHA mortgage you have to be approved as to credit score and debt to income ratio. The house must be in proper shape as well. An FHA loan pays off the bank if the home goes into foreclosure so the bank can be pretty picky.
You're not talking about subject 2 are you?
Post: The 10 Wrong Assumptions made by People purchasing real estate mentorship programs
- Wholesaler
- Arnold, MO
- Posts 348
- Votes 183
Ok! Let's say an aspiring real estate investor has $100,000 or more in an IRA account. He has read up on and watched YouTube videos about real estate investing but is too smart to pay $10,000 to a guru. How does he get the experience/expertise to start a real estate investing career and if you say a mentor is necessary, what should this rookie expect from the mentor and what should it cost him?
Post: Non Exclusive Option to Cash Buyers - What Does This Mean
- Wholesaler
- Arnold, MO
- Posts 348
- Votes 183
He's not posing as an end buyer. Although I don't like this type of an arrangement and if you don't have a lot of room in the deal I wouldn't do it, he still asked for permission. Just because you didn't know the terminology dosen't mean he was posing as an end buyer.
Post: What I wish Pace Morby would have told me
- Wholesaler
- Arnold, MO
- Posts 348
- Votes 183
This is not a sub 2 deal. This is a VA assumption.
Post: Ask Me Anything! Pace Morby’s Takeover
- Wholesaler
- Arnold, MO
- Posts 348
- Votes 183
Quote from @Dominic Locicero:
@Noah Bacon
How do I find wholesalers in my area?
Google "real estate wholesalers near me"
Post: Too many options! Where do I start?
- Wholesaler
- Arnold, MO
- Posts 348
- Votes 183
Keep in mind that interest rates are going up so I don't know if a BRRRR is a good option right now especially since banks are getting pickier on what they will finance. However, St. Louis is a great place for cash flow but not much on appreciation. Maybe a private money partner would be an option where you can control the rate you pay for money.
Post: Will social media influencers change wealth threshold?
- Wholesaler
- Arnold, MO
- Posts 348
- Votes 183
Sounds like they would make excellent private money lenders.
Post: Sub-To with Back End Seller Financing?
- Wholesaler
- Arnold, MO
- Posts 348
- Votes 183
Sure! If you're saying you are getting a property sub 2 then selling that property by owner financung it. You have the deed. Just be sure you continue to pay on the existing mortgage.
Post: Should I cut off people who aren't supportive of me?
- Wholesaler
- Arnold, MO
- Posts 348
- Votes 183
There are people that truly care about you and may be negative about what you are trying to do but anyone that is as vicious as you stated your former friends are should be dropped.
A lot of success in this business is created from a proper mind set. Surround yourself with new friends in this business. I'll bet the liberals you run accross will understand what you are trying to do and will be very supportive.