THINKING OUTSIDE THE BOX !

THINKING OUTSIDE THE BOX !

I HAVE BEEN TO MANY BANKS TO TRY AND GET FINANCING FOR A3BDRM 1 BTH SFR THAT I HAVE LOCKED UP ON CONTRACT TO ASSIGN. i have not gotten my buyers list built up enough to creat a buyer for this assignment even though it is an investors deal at approx $160-$200 cashflow after all expenses depending on how it is financed!! every bank i talk to wants a a down payment of 20-30% sooooo i have an idea that i am going to try.
my grandfather has an rv that is worth way more than i can buy it for and he said he will sell it to me far below book. i used my home equity to buy it so i have no lein on it now.ok so now my heloc is all tied up at the moment and i cant get a loan without a down payment and i also cannot assign this property and time is running out on my contract for the 3bdrm 1 bth.
i am going to get a recreation loan for the rv at a great interest rate ,pay off the heloc that i used for the rv then use the heloc to buy the house . the house is currently rented for 475 per mnth now so if i do buy it now it will be my 5 deals in 6 mnths if i can close within a month!! i will make it work!!!!!!!!!!!!!!!

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Click Here For homepage www.jaysthilaire.com
need to sell ? http://www.jayhousebuyers.com
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Way to use creative thinking!

I glad to hear you are thinking out of the box and have your five deals almost done. It is amazing how this program, and family have pulled together to get dreams accomplished.

Again, way to go on using all your resources! I wish you the greatest success and many more. Where there is a "No..." there is an opportunity.

Good Luck and God Bless.
hillvalley


HEY JAY

have you heard of ****. a great resource for buyers. go check it out.

its like all your buyers are on a website just waiting for you. stephen

robasciotti has used it. go see.

GOOD LUCK AND HAPPY INVESTING


hilvalley/walt

yes the dg family is great,anything can be accomplished with the right tools and action as dean teaches.
walt thanks for the tip on **** i will def check it out thank you and good luck on your deals hilvalley and walt!!!!!!!!!!!!

__________________

Click Here For homepage www.jaysthilaire.com
need to sell ? http://www.jayhousebuyers.com
Need me to FINANCE a home ? http://www.jaysrenttoown.com
CHECK OUT MY JOURNAL http://www.deangraziosi.com/real-estate-forums/investing-journals/20063/...


hbtoggs

Now that is thinking outside the box. You have a creative mind along with determination to get things done. Best of luck on this deal!

Lea
SPR Property Solutions, LLC


Jay,

Excellent job yet again! Way to think outside the box! I can't wait to see what else you accomplish in the near future. It certainly appears that you've found your niche. Smiling
-Mike Hutchins


jbtoggs

Jay if you have the property locked up and want to assign,why are you looking to get financing to flip it.If time is running out on the contract,ask the seller for an extention on the contract.Have you tried Investors (We Buy Houses),also go to this auction website and list the property,this site is all Investors.Website is www.3daybid.com its like ebay it has the reserve price you want the property to go for.If you need funding to close and then flip to an investor,use transactional one day funding.hope this help you some.

Good Luck & Good Investing

whurndon

H&H PROPERTY SOLUTIONS LLC


Very good point,

I did not realize you said you where going to assign. Why finance an assignment? If you where going to keep this property yourself as a rental, your example seems to work excellently. But as you wish to assign, you don't need to finance as you do not wish to hold the property. An assignment will be quick and painless, just pass your locked up contract on to another investor.

Now if your end-buyer needs financing then assignment will not work out anyways.

Keep us updated! Smiling
-Mike Hutchins


what about a hard money lender?

if it's a really, really good deal then maybe you should consider taking out a HML. You should be able to sell before your first pymt is due and would only have to worry about the points. just a suggestion...


Good point..

Felimur makes an excellent suggestion as well.


good points all !!

yes i am trying to assign but as i have said in a different post that i have not created a buyers list big enough yet . i know that is the first thing i should have done and that is a lesson for me.and should be to others!!lol time is running out so i am trying to get financing to buy and rent as the tennant is still in this approx180 per month cash flow deal.the way i finance it determines how much cash flow i will recieve and if it is a good deal or not so a hml is out of the ?. i did go to the credit union again and could not finance the whole amunt because the rv did not book what i thought it would[hence another lesson] anyway the rv was my grandfathers so it has ALOT of sentimental value!! plus i am going to make a million soon !!! i will try 3daybid.com william thank you for the info i appreciate it.i have it listed on craigslist,totalview and others but no luck yet i am going to lower the price to only make 2000 on it and see what happens in the next few days.thanks for all the pointers good luck to you all
jay

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need to sell ? http://www.jayhousebuyers.com
Need me to FINANCE a home ? http://www.jaysrenttoown.com
CHECK OUT MY JOURNAL http://www.deangraziosi.com/real-estate-forums/investing-journals/20063/...


I have no money

so How do I get a property. Thank you for any help you can give me.

__________________

Joe trevison


I am in NY also.

Jason, pm me the info on the home, how much your asking and where its located.I will see If i can hook you up a buyer. if so you throw me 500.
Richie.


That's What I Like To See!

Hey Jay.... Good luck with all this. You are simply just going thru the trials and tribulations of REI, right? lol Smiling Just think about how much you will learn from all of this and also teach the community by talking about it!

I love to see B.C. possibly being able to help assist in finding a buyer for Jay. This is what I was kinda talking about when I posted about my "AZ - EDGE" group and utilizing everones resources when possible. Since Jay is getting down to the wire, I'm sure he would be more than willing to knock off $500 to get it finally done and put a little in his pocket. I know I would....

That's awesome.... Got to love this website and community! Hope it works out for everyone, especially you Jay!

Thanks, too, for the great resources guys!

__________________

Robert M. Burkett CPA

Stay Active & "WORK IT OUT!!"

Get your "Daily Dose" & check out my journal at the link below!! I would love to hear from you as well!
http://www.deangraziosi.com/real-estate-forums/investing-journals/27368/...


denny and mike

thank you for your support,there is alot to learn in the rei world and with this dg community and the support of people like you it makes it alot easier!! good luck with all your rei deals

jay

__________________

Click Here For homepage www.jaysthilaire.com
need to sell ? http://www.jayhousebuyers.com
Need me to FINANCE a home ? http://www.jaysrenttoown.com
CHECK OUT MY JOURNAL http://www.deangraziosi.com/real-estate-forums/investing-journals/20063/...


joe

try studying the part in pfrn book on assignments BUT FIRST build your buyers list !!!! good luck!! and just ask if u need help and the dg family will be their for u !!

__________________

Click Here For homepage www.jaysthilaire.com
need to sell ? http://www.jayhousebuyers.com
Need me to FINANCE a home ? http://www.jaysrenttoown.com
CHECK OUT MY JOURNAL http://www.deangraziosi.com/real-estate-forums/investing-journals/20063/...


bc

thank you so much for trying to move my property on assignment if i can help u in any way just ask would be more than willing to work with you on any deal!!

__________________

Click Here For homepage www.jaysthilaire.com
need to sell ? http://www.jayhousebuyers.com
Need me to FINANCE a home ? http://www.jaysrenttoown.com
CHECK OUT MY JOURNAL http://www.deangraziosi.com/real-estate-forums/investing-journals/20063/...


robert

for sure robert the trials and errors r lessons learned and exciting journey that develops also.thanks for your constant support.this site and people such as yourself and many people too long to list have been very helpful.that is what is so awesome about coming on this site positive,uplifting atmosphere.success to you robert in your rei career.IF you ever need anything just ask!!
jay

__________________

Click Here For homepage www.jaysthilaire.com
need to sell ? http://www.jayhousebuyers.com
Need me to FINANCE a home ? http://www.jaysrenttoown.com
CHECK OUT MY JOURNAL http://www.deangraziosi.com/real-estate-forums/investing-journals/20063/...


Definately Include Yourself, Jay!

Hey Jay....

Thanks for the reply and I totally agree with you 100%. But as I mentioned in the posting title, you have to definately include yourself becuase you too have been a great source of inspiration to many of us. I will definately take you up on your offer if I ever need some help. You have definately already proven you are good for that!! Smiling

On another note, I'm trying to spear head a little project for this community, but have first sent a pm to Dean as well as Megan to see if I can get any feedback if they would support the effort. I hope they do respond in some way, but don't expect it. If not, I'll move forward with it and possibly see if you can help out in some way. Keep your eyes peeled out there on the posts!

Have a good rest of the week Jay, and also to the rest of the DG community!

__________________

Robert M. Burkett CPA

Stay Active & "WORK IT OUT!!"

Get your "Daily Dose" & check out my journal at the link below!! I would love to hear from you as well!
http://www.deangraziosi.com/real-estate-forums/investing-journals/27368/...


robert

sounds great if you need a partner i am willing to do everything i can for you .that is what makes deans site what it is.he has certainly shown us what it is like to help people out. actually it the most awesome feeling in the world to be able to contribute to someones drive to be of help to someone else. cant wait to hear about it robert.....will be off the computer for a week starting friday night and dont know what i will do when i cant catch the positive bug every day for a week. thanks again robert!!

__________________

Click Here For homepage www.jaysthilaire.com
need to sell ? http://www.jayhousebuyers.com
Need me to FINANCE a home ? http://www.jaysrenttoown.com
CHECK OUT MY JOURNAL http://www.deangraziosi.com/real-estate-forums/investing-journals/20063/...


definately include yourself, Jay

I totally agree with Robert about Jay being a good source of inspiration. But I want to thank everybody that shares on this site. Asking questions or answering them it all is very helpfull! I'm hoping that I will be able to help inspire soon the way you all have inspired me!


thanks lance

i am sure you will learn all you can from these great people and in return teach others when you have gained experience. take action every day lance and you will be living your dreams and goals.

__________________

Click Here For homepage www.jaysthilaire.com
need to sell ? http://www.jayhousebuyers.com
Need me to FINANCE a home ? http://www.jaysrenttoown.com
CHECK OUT MY JOURNAL http://www.deangraziosi.com/real-estate-forums/investing-journals/20063/...


OLD POST BUT. POSSIBLE LESSONS TO SHARE!!!

Was looking through old posts over a yr ago and thought this may spark some ideas for new dg family.
jay

__________________

Click Here For homepage www.jaysthilaire.com
need to sell ? http://www.jayhousebuyers.com
Need me to FINANCE a home ? http://www.jaysrenttoown.com
CHECK OUT MY JOURNAL http://www.deangraziosi.com/real-estate-forums/investing-journals/20063/...


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