Condev:  Can you give us an address and a pro forma to back up your claim?  Not trying to challenge what you said, but there a lot of pitchers on this forum and maybe if we make comments like this, we can have everyone back it up with addresses and numbers.  Thanks

Jay, your last point I could not have said it better myself

FYI, there is really no legitimate way to document a complaint against a wholesaler.  As licensees, we are required to disclose EVERYTHING.  In fact, when I went to real estate school a while back, all 3 of the states I am licensed in begin by telling students that the most important thing to do as a licensee is DISCLOSE DISCLOSE DISCLOSE.  Th…[Read more]

It's simple to verify.  Here…Click on this link:  LICENSEThat's my verification of my license.  Ask your wholesalers to produce you a link of their license.  If they can't??  Well then they just aren't licensed   In the link provided, at the bottom you can also check on any complaints made against the licensee.  I am clean as a whistle and I…[Read more]

LAWSJS:  Things to watch out for:Unlicensed wholesalerswholesalers with no inventory…if they send you an address, cross reference it on public record to see if they own it.Those that have you wire escrow or deposit money to them or their firm.  Never ever ever ever do this.  Google Demetrius Mathis in Georgia.  He used to read these boa…[Read more]

Richard:  I asked you a while back to send me your lending guidelines.  I have clients looking and if you have what you say you do, I can refer you some business.  The only skepticism I have is the 4.5% interest rates.  Primary homeowners in the U.S get that.  Why would an institution offer international investors 4.5% adjustable or not?  Lende…[Read more]

Texas Cash Cow is correct on the lending side.  Private money does not get reported to any type of credit bureau.  There would be no history for a conventional lender to look at. LAWSJS:  So you had a painting quote marked up over 600%?  I've seen a lot of shady things in my career but I can't say I've ever seen a markup like that unless it was…[Read more]

Welcome to America!  Yes, have seen the purchase and sale of an LLC.  People have too much time on their hands.

Jay:  LLC's are included in that deed restriction too for the most part.  Unfortunately some of the houses we buy have 60 days flip restrictions on them.  Mostly B of A stuff.  I hate it

Yes, agree management is the most important piece.  That is why you need a team you can trust.  Also the rules and regs that you are referring to are Fiduciary Responsiblities.  I am a wholesaler, but most importantly I am a licensed real estate broker.  All of our contracts are sold with OUR firm as the seller.  In the biggest disclosure EVER…[Read more]

WorldInvestor:  I totally see your point.  I have said in previous posts that wholesalers and brokers in other countries are what I classify as "generations".  1st Generation:  Distress direct.  Distress could be buying direct from banks, short sales, courthouse, etc…2nd Generation:  They purchase from 1st generation wholesalers and typic…[Read more]

I am in the loop with a lot of wholesalers in the area.  Each one of us have different products.  The one that is most profitable is what you say in this thread.  Wholesaler buys at X…marking up X+ Rehab + Profit to sell to investor in OZ.  Get down payment from OZ investor to cover wholesalers cash invested of acquisition and rehab, and cha…[Read more]

TERRIBLE INVESTMENT!!  Everything investors buy in Florida is terrible unless you use me as your wholesale source!!!    Kidding Kidding.. In 2003-2004 I was the marketing arm for a contractor where we built almost 100 homes in South Gulf Cove and Rotunda, located in Pt. Charlotte.  Good thing you are by the hospital!  Lots of old people in FL! …[Read more]

Sure, I'll bite on stirring up the pot!  I met with some Aussies yesterday.  I've gotten along great with all of them and its so exciting for me to exchange stories and learn from each other.  THAT BEING SAID……and forgive me as I know very little of the Australian market, but…From what I read, Australian homes are selling at 7 times the fa…[Read more]

Jay:  What are your "better markets in Florida"?  I'm curious since you don't invest or lend here.  I'm assuming you mean major metro markets?  Miami?  Tampa?  I really like Tampa's multi-family market, not single family market as much as I do Fort Myers or Cape Coral single family market.  I know your thoughts on Lehigh.  I bought a house in SW L…[Read more]

OH MAN!  Holy Crap!  This guy has been calling me for months to sell our product in FL…He never bought anything from us, but I JUST talked to this guy on Friday!  I didn't know his "re-sale" operation, but geez, how stupid can you be.  Though he was smarter then that.  Stupid Stupid Stupid

Richard,Thank you and you are correct I do not understand certain international things in financing.  I rely on people like you to school me on it so it can improve my business.  Since this is a forum, why don't you enlighten us on what these things are.  Probably good for the investors on this board to know also.  Thanks so much

Fannie/Freddie released a ton of their inventory and the banks were probably dealt a positive hand.  In many markets where shadow inventory was high 2-3 years ago, the release of government owned homes caused a frenzy of buying from investors, low interest rates, etc… It was the perfect scenario to take the hardest hit markets and inject a…[Read more]

Commercial is a whole new game.  Your Cap Rate (commercial), which is different from a Net ROI (residential) is calculated using more detailed formulas.  It is important for you to understand how this works or a property manager can rip you off.   NOt saying they will, but it exposes you to weakness if you don't understand the deal.  We do a lot…[Read more]

Richard,If you provide financing for international investors, I can do more business for myself and give some to you!  I have Australian and Israeli investors at the moment, some looking for financing.Feel free to send me a private message with a link to your website or program that you offer.  I'd like to know your qualifying and underwriting c…[Read more]