A group of part-time wholesalers I met through a local meetup asked me to be their earnest money source. Five members, they say they put roughly four contracts a month under agree…
Still a little stunned so I'm writing it down while I remember the order things happened in. Seller was an out of state owner who inherited a 3/1 from an aunt, had been paying the…
I've watched maybe ten videos on wholesaling now and every single one says you sell your "equitable interest" instead of the property. Nobody explains what that is. If I never tak…
Trying to get the refinance done on a single family I've been rehabbing. The lender ran it and told me the debt service coverage ratio is 1.08 and their minimum on this product is…
Four completed cycles, fifth under contract, and the thing that's slowing me down now isn't money. I've got a line of credit and a couple of people who'd fund a rehab tranche if I…
County trustee sale Tuesday morning, single family, 1,450 sq ft, 1978 build, in a working suburb where the last four closed comps between 255k and 272k. I'm calling ARV 262k becau…
Bidding at a county trustee sale next month and I'm trying to stress test my title work before I put cash down. My understanding is that the foreclosing lien wipes junior liens, s…
Career changer, zero deals, reading everything. Every write-up about full guts says the same thing, that you need established contractor relationships. Fine. But I don't have any,…
I'd like to do this in a way that doesn't blow up on me, and everything I read about gut rehabs sounds like drama by design. But I keep landing on the same problem when I look at…
Spent an hour each with two brokerage owners this month and they gave me completely opposite answers to the same question. The first has six agents and closed 19 deals himself las…
Finished lease-up on this in the spring so I can finally talk about it with real numbers instead of projections. The project: 22 units, three stories, walk-up, surface parked, woo…
Ran a 118k in, 142k out last month and both legs closed within about two hours of each other, which is how I've done every one of these. My funder doesn't care, the fee is flat pl…
Sold the live-in flip in September. Twenty-seven months in the house, single filer, and the gain came in over the exclusion, which I honestly didn't plan for when I bought. Number…
I'm still sorting out which strategy fits me and the live-in flip keeps coming back because I'm patient and I don't have much capital. But I don't know what I'm legally allowed to…
Foreclosure filings were up 26 percent year over year in the first quarter per ATTOM, starts up 20, repossessions up 45. So the list is getting longer and every scout I talk to ha…
I'm under contract on a bank-owned 3/2 at 179k, listed by a brokerage handling it for the servicer. Reading the preliminary title report twice, which is my habit, and I have two t…
Something bothers me about how this strategy gets discussed. Filings are up, repossessions up sharply, everyone quotes the numbers. And yet the practical experience of anyone tryi…
I've read this commitment letter four times. The broker told me on the phone that I could refinance as soon as the property was leased and the work was signed off. The document sa…
Scoping a BRRRR now and the scope has already grown from $52k to $70k on paper, which is my usual disease. About $18k of the growth is mechanical: sewer lateral, 200 amp service,…
I asked an agent for a blank copy of her listing agreement so I could read one before I ever have to sign one for real. The term line says twelve months. She said that's just what…