All Forum Posts by: Steve Wood

Sounds to me like you need to put a little fire under your listing agent. He doesn't seem to be following up on your deal.

Maybe try to contact INDYMAC yourself? Since they have cashed your escrow, I don't think they can do anything else with the property. The deal is in the works.

You just need to motivate your listing agent or take the initiative yourself to find out what the status of the account is.

Most commercial loans on apartments will be 80 to 85% LTV but the great thing is that they are non recourse. The reason for non recourse is that the property qualifies for the loan and not the borrower. If you have the cash to put down it is very easy to get started. Probably one of the greatest ways to leverage money there is. Good luck.

On my first deal, I purchased a home for 38K and my wife worked on it after work and on Saturdays. We purchased in Dec. of 04 and completed in April 05 after investing 19K in rehab. We sold home in June for 107K.
We have done 2 more rehabs and sold at nice profits. Then I learned how to buy with contracts only and flip. Then I discovered that this residential market was very hard. Now I am into Commercial stuff with less stress.

Well, with 250K I would purchase a 1.5 millon dollar NNN Lease commercial property (leverage my money) and let the income from the investment pay for my new home and car!

Hello All,

New to the game of Real Estate but like everyone else I have to start somewhere. I am looking for some info on flipping houses using assignable contracts only and not using any of my money.

Thanks,