All Forum Posts by: Zack Broaddus

If you own a vacant, buildable lot, are there any banks who will allow you to pull cash out of it by refinancing?

If you own a vacant, buildable lot, are there any banks who will allow you to pull cash out of it by refinancing?

If you own a vacant, buildable lot, are there any banks who will allow you to pull cash out of it by refinancing?

I have mailed to buyers before. I bought a list of everyone who had bought a house in Richmond in the last month, and then tracked down their phone numbers. I then called all of the ones within the zip code that I had my deal in and wrote letters to the ones whose phone numbers I couldn't find. I think I only sent out about 15 typed letters, but about half of them called or sent me an email asking about the property that I had for sale. So overall, I think that mailing is a great way to find new buyers in your area and I would encourage you to try it out.

Nice work Nancy

I have a great deal out in Tappahannock,Virginia,  but I don't really know anyone who invests out in that area.  Do any of you guys know anyone who is a landlord or does flips out in Tappahannock?  

I may have something for you pretty soon, I've got a few meetings with sellers on Wednesday.  Feel free to give me a call anytime you have something in particular that you want so that I can help you find what you're looking for.  

So, I've just finished reading Brandon Turner's book on investing with little and no money down, and I have learned a ridiculous amount about financing.  That said, I still have tons of questions, but one specifically.  Let's say that I have found a great deal and I am able to purchase a house that needs just a little bit of work with owner financing and a small downpayment.  I'm getting the deal at about 60% of what it is appraised at, and I feel that with a little bit of work, the appraisal will shoot up quite a bit.  Would I be able to then do a cash out refi on that home for 78% of its appraised value, or would I only be able to pull 78% of the equity that I have in the property that the seller is financing?

Smile and introduce yourself. Ask them what their business is (fix and flip , buy and hold) and listen to what they have to say. Then ask them what areas they like to invest in, this will be important later. Once you've heard all about them, tell them that you are a wholesaler and that you would love to start running some of your off market deals by them. They will always say yes, because every investor wants off market deals, so then just exchange business cards. One thing that I always do is email them the morning after and tell them it was nice talking to them and ask them if there is anything else that they would like you to know about their investing criteria. After that, just match your deals with your buyers based on what they've told you. I hope this was helpful.

If it's not then I am about to find out the hard way