OfflineI am a new investor, looking to make my First deal! I recently posted an ad on a classified website looking for investors.
Today i got a response. It went something like this;
looking for multi-fam 20 units or more. 86% occupancy. Owner must finance or carry back a second.
Is he asking for apartments, Condos, and or Town homes?
I'm guessing he would like for most of them to already be occupied?
Does anyone know of any good sites i can go to to search for apts and their owners?
Should I just charge him a finders fee, or is there a better way to go about it?
Thank You All for Your time! Any input would be Greatly appreciated!
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Joelster,
Apartments, Condo BUILDINGS (probably new or rehabbed), CoOps, New Developments, (like a ROW or Block of PreFabs). One technique is to buy a plot of land, develop, zone, divide, Build single Familys 3BR-5BR, 2-3Bth, then Sell the ENTIRE BLOCK or Development. You can Also, buy Construction Foreclosed or Bad "Wreaths" have them either finished. If they are Pre-Existing and Finished, Make Sure they are purchased or "locked up" by you on Assignment Contract for a low or profitable price. Pass it on to your Lead/Contact.
I am so excited i can't sleep! I am very Grateful!
Good Luck to you in this adventure of Real Estate and Welcome to the DG Family!
MaryJane
PLEASE SEND ME MORE INFOR, I JUST FINISHED DEAN'S BOOK.
Godfrey, i'm also a fellow vet(Navy). If you were in the Army, AF or Corps, don't be jealous and resentful of me lol.
Inside military humor
When I have a moment i'll try and give you a call. having the VA voucher helps alot; I bought one of my homes with it, and should get you a decent rate, but the benefit is you'll pay no PMI, which will save you thousands over the life of the loan.
Can you use the VA loan program on a home other than primary residence?
Sheila
"If God is for us, who can ever be against us?" Romans 8:31 NLT
but if you happen to change your mind the day you close....(wink, wink)
We just sold one of our houses last week & the buyer used a VA loan. Remember Godfrey that you are still going through a bank or mortgage broker, it's just that the VA loan is guaranteed by the Federal Government. If you have credit problems you may not qualify. We had to give back 6% concession to the buyer toward closing costs for him to qualify...so what we did was just increase the purchase price by that amount so we would net the same amount as the original contract.