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There are several different nationwide property auction sites such as Auction.com, Xome, and RealtyBid to find investment properties. In this video we discuss creating accounts, searching for properties, and applying filters such as location, property type, foreclosure status, and occupancy.
Using filters helps narrow search results using specific criteria like number of bedrooms, condition, and vacancy. The video also provides examples from different auction platforms and highlights the importance of refining searches to avoid being overwhelmed. Auction.com XOME HUBZU Reality Bid HUD Homestore Auction Network Hudson & Marshal
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This Virtual Investor video covers how to find out-of-state property owners using list brokers.
It demonstrates creating a custom list to target absentee owners by selecting geography, property type, purchase date, and ownership status. The video explains filtering options, such as focusing on recent buyers, excluding owner-occupied properties, and refining criteria to narrow the list. It also shows how to save costs by removing duplicates and includes a step-by-step guide to purchasing and downloading the list for mailing purposes. We demonstrate how to get a list of out of state property owners. We grow through a mailing list website to pull out of state properties owners that you can contact to purchase their property or let them know of a property you are selling. Learn How to Find Out of State Property Owners In this episode of The Virtual Investor, we review a recently closed deal and discuss the numbers, challenges, and opportunities. Mike breaks down our first property, a 3-bedroom, 2-bath in a golf course community, purchased through a Washington state REO auction.
We explore the potential plans for this property, including a wholesale option or minor renovations to boost value. Next, we discuss an earlier deal in Alabama, where unexpected pool repairs affected our rehab budget. We share insights on sticking to the numbers, even when surprises arise, and highlight lessons learned for future investments. Tune in for more deal reviews, real estate tips, and insights. Watch Learn How We Underwrite Properties | Investment Property Review In a declining real estate market, it's crucial to minimize rehab costs and speed up the process to maintain current market value. Anticipate a potential 5-10% market drop and price accordingly.
Focus on basic, quick, "lipstick" rehabs rather than high-end renovations, as the latter can lead to greater losses due to time and market fluctuations. Keep your projects short, simple, and efficient to avoid significant losses. To learn more watch Rehabbing in a Declining Market In this video we show how we bought a real estate investment property using our life insurance policy.
We bought a rental property using our whole life insurance policy. We bought for $40,400, renovated and renting the property out for $1,200 a month. We discuss: - some of the renovations we did to the property. - how we loan the cash value of our life insurance policy to fund the property - how we payback the life insurance policy loan - Infinite Banking concept using whole life product - a great way to BRRRR a rental property - cheaper than hard money lenders and private lenders - works for permanent life insurance polices with cash value Watch to learn more... We created a video that shows you how to post your house for sale by owner (FSBO) on Zillow. Zillow will give you great exposure online as many people search for properties using Zillow.
How to post a house for sale on Zillow (FSBO): 1) create a free Zillow account 2) Enter the property address for the house that you are selling 3) After 72 hours Zillow will approve your house for sale by owner (FSBO) 4) Enter property information, pictures, description, listing price, etc. In this video, the Virtual Investors explain how to effectively find investment properties using the Multiple Listing Service (MLS).
They cover strategies like networking with real estate agents, setting up automated emails for new listings, and refining search criteria to target specific property types, locations, and conditions. By filtering for key factors such as price range, property condition, and desired locations, investors can receive daily updates on potential investment opportunities. Make sure to subscribe and stay tuned for more real estate tips! Below is an example of criteria you can use to create a property list from the MLS. Daily MLS Email Criteria Property Type is 'Residential' County is one of X MLS Area is not one of Y Status is one of 'Coming Soon', 'Active' Current Price is 250000 or less Listing Term Begins is TODAY Beds is 3+ Structure Type is one of 'Detached', 'Twin/Semi-Detached', 'Interior Row/Townhouse', 'End of Row/Townhouse' Condo/Coop or HOA Assoc is not 'Condo/Coop Association' Senior Community is no Property Condition is one of 'Below Average', 'Major Rehab Needed' New Construction YN is no Some might have Keywords ‘TLC’, ‘Fixer Upper’, ‘Estate Sale’ What is an REO Property?
Real Estate Investing Explained In this video, we discuss what an REO (Real Estate Owned) property is and how it becomes one. Learn about the foreclosure process, loan defaults, and why REO properties are attractive to investors. Discover our real estate investing strategies for buying, selling, and managing real estate, including virtual wholesaling, renovation projects, and more. What is a REO foreclosure? What is a Real Estate Owned (REO) Property?
How Does a Property Become an REO property?
REO properties can be attractive to homebuyers and real estate investors. Sometimes lenders are motivated sellers who do not want to sit on their REO inventory and these homes may be priced at a discount. This is the last article in the series of private lending in real estate. To watch all the videos in this series visit our private lending playlist
There are two investment structures for single-family properties: joint venture (JV) equity and debt. JV equity involves profit-sharing between a newer investor and a seasoned lender, often split 50/50. In contrast, the debt structure is akin to a mortgage, with shorter terms (typically 12 months) and interest rates from 8-14%, depending on the investor's experience. The lender can receive interest payments monthly or at the end of the term. They also discuss extension fees and the importance of matching investment time frames with the investor’s goals. How Does Private Lending Work? The concept of a private money loan is relatively simple. You have a borrower, a lender, and paperwork. While they seem to serve the same purpose as traditional lending institutions, there are several key differences. Private money loans typically charge higher rates than banks, but they are also more available in cases an average bank would pass on. Additionally, private lending offers speed that allows an investor to make a strong offer by closing fast. How Do I Get Paid? Private lending is very flexible on how you structure your deal. Joint Ventures: As a private money lender, a profit split can be one of the most attractive options for financing an investment. Investors can negotiate to receive a percentage of the final profits in this type of agreement. The amount will vary based on the contract and the investment, though it could be quite profitable. Exit Fees and Renewal Fees: This loan structure requires the borrower to pay a predetermined amount at the end of the loan term. The exit fee is often negotiated as a percentage of the overall price of the investment. In some cases, lenders may even negotiate an increasing exit fee that changes depending on when the loan is paid in full. For example, if the borrower needed a few extra months to repay the loan, then they would pay a larger exit fee. Interest Payments: This is the most common set up in private money. Lenders can set an interest rate at the time of the loan approval and sit back and wait for the money to arrive. You can receive monthly or quarterly payments. Or all your principal and interest at the end. For example, when a rehabber renovates and resales his property. Points: Points are essentially fees paid by borrowers. Points are calculated as percentages of the overall loan, with one point referring to one percent of the loan amount. The reason some lenders prefer this system is that points allow them to be paid in larger sums, with additional interest payments to follow. More often than not, points are paid at the beginning of the loan term and are suggested by the borrower as an incentive for granting the loan. To learn more about way to get paid as a private lender in real estate visit our YT Channel The Virtual Investor This article is part of a series on private lending in real estate investing.
Today we will discuss what kind of properties does a Private Lender lend on? Curious about the types of properties you can lend on as a private lender? 🏠💼 There is a diverse range of properties that are ideal for private lending. From residential homes to commercial spaces, we explore the opportunities available in the real estate market. Whether you're interested in fix-and-flips or long-term rentals, there's a property for every investor. Watch now to learn more and expand your investment portfolio with private lending! 🔍💰 What Type of Properties do I Private Lend? With private money lending, you will be confronted with several types of real estate investors. Here are a few scenarios you may encounter: Transactional: This type of investor will typically purchase a residential property and quickly resale it as-is. The investor may only need your money for a day or a few weeks. Rehab/Sell: This type of investor will typically purchase a residential property and complete renovations with the intention of reselling it once the project is complete. Borrowers in this sector find private money attractive because conventional banks will often not lend to properties in poor condition. Lending on this type of deal will be 3-9 months on average. Rehab/Rent: These investors typically purchase a residential property and complete renovations with the intention of renting the property for cash flow purposes. Once renovations are completed, the investor will get a loan from the bank (low interest rate) and pay you back. Lending on this type of deal will be 3-9 months on average. Builders/Developers: Builders and developers will purchase vacant land to permit and develop into residential or commercial use. Many banks will not lend on speculative development. Depending on the type of development, lending on this type of deal will be 1-3 years on average. Commercial Investors: This population of investors may seek to use private money as a “bridge loan” for a commercial property when a conventional bank will not lend on an un-stabilized asset. |
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