저자: Kevin · 외국인
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현금 전용 압류 부동산(단독주택)을 대출로 매입한 사례 공유. 워터 피해로 감정 등급이 낮아 대출이 거절됐으나, 수리 조건부 계약과 감정사 재확인을 거쳐 25% 다운 대출을 받아 거래를 성사시켰다는 내용. 주식·자산 가격에 대한 예측 발언은 없음. 교육 강좌 홍보 비중이 큼.
다듬은 글
I'm going to show you exactly how I tricked AIDS Bank into lending me over three hundred eighty two thousand dollars on a cash-only fixer-upper let's get right into that story because it's actually a trick you might be able to take advantage of as well to make sure you can increase your profit when you do real-estate deals and get those sweet sweet conventional loans which we'll talk about as well my guest says you've probably heard about foreclosure deals before there are a few main types of foreclosure deals and we're not going to go through everything here but generally we can walk away knowing that foreclosures auctions short sales or REO or real estate owned deals they tend to be pretty good deals because the banks are whoever selling them tend to sell them for less than market value because they're trying to get these properties off the books so here's the scoop when a really good deal hits the market there tends to be a lot of attention on that property the problem is sometimes these properties are such good deals but because they need so much work no bank is willing to finance on that deal so the listing agents go into it knowing we don't want to deal with appraisers we don't want to deal with banks we'll just list the property as only being available to cash buyers unfortunately for this deal I didn't have another three hundred eighty two thousand dollars sitting around I really needed a bank to give me the three hundred eighty two thousand dollars so I did what any pro real estate investor does you get creative and you make it work now first things first you can't go into any deal with a generic strategy every single deal needs a specified plan to make sure you can maximize your odds of getting the deal and getting the best price possible so this particular property is a single-family house in Ventura County at California and the property itself was built in 2003 so I was very comfortable with the newness of the property I'm not so worried about earthquake issues I know it's got copper plumbing I know it's got a good roof I know it has an updated electrical system and you know what it's got insulation in the walls and the Foundation's good I know that solely because of the age of the property so I'm going into a deal that's already pretty good like how bad could something like this get well that's where I may have started speculating a little too soon well unfortunately the occupants of this house didn't know that the rubber hoses they were using for the hot and cold water line on their washing machine are a pretty massive liability in fact pretty much every time you go buy a new washer these days they force you to buy the metal braided hose connector kits mostly because the metal braided ones are much less likely to burst they could still burst but usually you start seeing wear and tear and damaged way before and they last way longer so anyway sure enough that they went on vacation didn't realize that at the same time the water pressure regulator for the house which minimizes the water pressure coming into the house had failed which increased the load on the rubber hoses or the pressure on the rubber hoses and while they were gone Shh well the interesting thing about washers is most people when they go on vacation they don't actually close the valve for their washing machine mostly because they typically forget to turn it back on when they go to do a washing load and then they get really frustrated that their clothing didn't get washed it just got full of soap and sloshed around in soap because there was no water so in other words this hose caused the such a burst and explosion of water that the occupants had no idea what was happening until a neighbor called and said he probably not normal but you've got water coming out of your front door your garage your side door and your back door your house might be flooded so fast forward to the aftermath this property had to have all of its flooring upstairs removed the carpet was gone the drywall had to be removed the downstairs kitchen had to have portions of it removed everything within the bottom of two feet of the property had to be removed and the furnace was broken on the property not sure if that was related by a lot of things we're now wrong with the property fortunately the owners called a restoration company to come in pretty quickly to try to minimize the odds of any kind of mildew or mold which was a really good thing but then they didn't pay the restoration company the $12,500 they were owed well now fast forward to me getting involved the house is listed as a short sale cash only having had water damage and not only do you have to buy the place with your own financing for the price you pay but they want you to pay the $12,500 to the restoration company that's outstanding so you need even more cash to come up with well here's exactly step by step how I tackle getting this deal with a 25% down conventional loan which in case you don't know conventional loans are really awesome because you can get those 30-year fixed-rate loans or 15-year fixed-rate loans and pretty much I mean read your contract but pretty much as long as you make the payment you don't get foreclosed on which is cool the bank can't call you up and go well market values went down time to bring in some more money because you've been short selling tesla and now you're upside down they can't do that on houses you're a lot more protected on conventional loan so anyway the deal had gone in and out of escrow multiple times with different cash buyers who were trying to grind the seller down because of the water damage and try to get the house for an even more discounted price mind you this was a short sale so it was already selling for five hundred ten thousand dollars in a neighborhood where everything the same floor plan and even was plus it was a no-brainer deal so here I am trying to get the deal without cash and here's how I solve the problem I spoke with the listing agent and suggested give me a chance on this deal I'm going to go ahead and write you an offer 25 percent down with no appraisal contingency that's always the concern right the appraiser comes in and rates the property a condition that's unacceptable a quick note there are six types of conditions one through six number one is like new construction and then it goes down to you know the great Andover and proved to average - deferred maintenance - has health and safety issues probably don't do a load on to c6 which is do not lend on well I write this offer with no appraisal contingency and a special term as part of the contract to get the deal which is a similar psychology to how I teach you how to invest in the real estate investing course it's a similar kind of psychology that I use i coming out January 15 price goes up that day by the way so you may as well use that coupon code down below since you're a loyal audience member here oh and by the way huge shout-out to Charles uh from my real estate courses so who actually wrote a facebook message to his friend Derek now recommends my course as a really awesome course on real estate investing and renovation for quite cheap for price / quality much much better than most I've seen so thank you very much Charles and thank you so much for being an active member in discord as well the special term I wrote in was if buyers lender or appraiser requires any repairs as a condition of this alone closing seller authorizes buyer to complete any required repairs on the property and hold the seller harmless of any liability if the sale does not go through for any reason seller will keep all repairs made at no cost to seller and buyer agrees to lose the money they invested fixing the property up yeah so I basically said whatever the appraiser wants me to do I will pay to fix and I will fix up a property that I don't even own now this almost blew up in my face because here's what happened we went into the deal my lenders processing loan they order the appraisal and they didn't let me know that they ordered the appraiser this was like an online lender whom I don't do business with anymore and they kind of didn't communicate super well so basically they sent out the appraiser the appraiser goes and looks at the property and tells the bank this is a c6 this deal is dead and the lenders assistant sends me a two-line email goes hey bad news we got the appraisal we have to cancel the loan this isn't going to happen well that made me really sad because here I was in escrow on a five hundred ten thousand dollar property I thought needed like 30 thousand dollars worth of work AKA would have been all in for like five forty to five fifty because of that extra ten to twelve thousand dollars i had to pay for those restoration people which i did negotiate that down to by the way negotiate everything okay but I really wanted that hundred thousand dollars of wedge or extra net worth that I would be getting tax free thanks to buying this below market value deal and dealing with the problems so let's just say that was like a hundred thousand dollar losing email it was a big bummer but I don't just give up but I think you know that about me see if somebody for example were to ever sue me I'm the kind of guy that goes we'll see you in court I don't like rolling over anyway here's exactly what I did on this a particular deal I called the appraiser and I asked the appraiser what would it take to get this property to a see for condition in other words one that's financeable the appraiser said well I mean Kevin I mean like there's obviously been water damage there's no carpet I can't get the furnace to turn on and there's drywall missing and there's damage in the kitchen and I'm thinking to myself okay alright like I can handle all those things because I'm gonna handle those things anyway after I buy it before I rent it out right that's okay I'm gonna do the work anyway right so I asked the eraser I said hey you know would you mind if I emailed you something to the effect of if this property has new drywall in the places it's missing over working furnace and new flooring and the damage in the kitchen repaired it will qualify for a C for condition the appraiser said yeah sure I'll respond to that oh that's why Center that email she responded to that I told the lender to put everything on hold I sent in my drywall guy my HVAC guy and my to touch the things up and a couple other people to fix the little mouldings missing in the kitchen and things like that I mean these were very simple handyman type repairs basic then called up the appraiser and said hey we're ready for a rien spec ssin now this is where a lot of buyers would go oh no an appraisal reinfection it's gonna cost us $150 to re-inspect the property oh no dude who cares like you're about to make a hundred grand on this deal and because I'm an agent which in case you didn't know I got a I got a course for real estate agents as well because I'm an agent I was also getting paid on the deal I was getting a three percent commission so another fifteen thousand dollars so is really a hundred grand Wedge plus fifteen grand so you better believe I'm not gonna be whining about $150 re-inspect fee praiser goes back out and says hey this looks good to us you're good to go called up the bank and said hey appraiser says we're good now boom cash only property that got denied financing just got approved for a loan with 25% down because I spent $2,500 on a new furnace a thousand bucks on some cheap remnant carpet just to qualify and about $2,000 on drywall work that's how you solve problems in real estate folks and that's exactly why you got to be a member of my real estate related courses and my finance courses to learn a perspective of psychology and deal-making you haven't seen anywhere els]
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