Take out loan
Their reasoning is that since the property is located in a neighborhood zoned for single family homes, that if the home were to need to be rebuilt due to fire, flood, ect. The property is currently grandfathered in with legal but nonconforming use as 2 unit property.
You could also go to the local zoning board and request a variance to make the lot officially a multi-family designation.
Now, some zoning boards will shoot that down immediately, but some basically approve any request that comes across the table. Additional info: In some communities, "grandfathered non-conforming" properties lose their status as legal if they are out of use as a rental for more than one year. For instance, if one unit was not rented for three years, a community could say the non-conforming use is no longer valid and a variance must be obtained to continue renting that unit.
Of course, the variance is always a possible solution, but it cost a chunk of change and is at the whim of the neighbors and politicians. The sellers up selling it for cash at a much lower price and I ended up in another duplex a few blocks north of there.
A lot of the posts in this quick cash loan service forum amount to "how can I finance this? Your goals and story: What are you trying to accomplish, how are you trying to accomplish it, and what hurdles (if any) have you faced. Current or prior ownership of real estate: Currently own other real estate (how many properties? Occupancy: investment with traditional long term leases, second or vacation home, owner occupied, family member (specify), short term furnished rental, rent-to-own, NNN, other (specify). Down payment or equity: specify down payment for purchase mortgage, or how much equity you will have in the property afterwards if a refinance. Admin Note: This forum is NOT the place to look for funding. However, this format will help others determine what type of funding would be appropriate for your deal. Do not ask for funding in this forum, please post funding requests in the Marketplace Forum only. I had limited success for a three day trial period using Connected Investors PiN tool. I needed guidance during the trial period and received no response to two emails. It seems to create an efficiency - once you learn to navigate its possibilities - for research etcetera. They said they do have trainings every Tuesday and also online tutorials.. I am very wary of the data being current or even valid.
They have had a lot of bad reviews in the past on the BBB site.
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Can anyone attest to CIX PiN being a reliable source of current, valid information??? Kent Clothier had a similar system but the problem was actually getting the contact of the seller.
Most of the numbers provided were either outdated or went to someone who did not own the property. Hey all - this is probably a bad first impression because what I am posting is mostly negative.
I am actually a very positive person and very excited about real estate investing. I was SO wary, that instead of giving me a 3 day trial, they gave me a 7 day trial and the added another 3 months to my option for no payments. Needless to say, I just cancelled my PiN membership. MOST of the data on properties in there is payday loans victoria tx inaccurate. There was even a property listed as vacant with a street view picture, but the property had actually been torn down. Not to mention, the site is extremely slow and cumbersome. I take out loan understand that it is pulling a lot of data, but most of the data is garbage, so you guys need to work on a way to pull in good current data.
Nobody believes that you are using drone technology to scope out deals, and if you were using the same sources for your information that I was using prior to taking the leap to your platform, your data would be accurate. Not sure if that would have anything to do with the data being bad or not.
One of the tools that I have been using is Deal Machine. I would LOVE to hear about anyone who IS using technology in a creative way to generate leads. If you would like to connect with me, please feel free! As a new investor I was going in circles using PIN. It was the first software I ran into in this venture so I thought I was doing something wrong. Then when I started using other sites I was finding so many more properties such as when searching pre foreclosures. Beyond the bad data, the site itself had me convinced I was extremely confused. Once I got out I started putting some good lists together and actually started marketing. I think my confidence was so low because every vacant- not vacant.
A little improvement here and there and it will be great I am sure. I see plenty of monthly subs and I would rather go that route then lock myself in again. As a past software developer, website developer I found TIN oddly lacking in obvious data fields: beds, baths, age. The UI has an unusable value slider and too coarse grained size filter. They are moving toward the 2009-10 problem of banks with inventory and big buyers wanting those tapes via PIN.
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But this is very difficult to get accurate and probably complete data type so not surprised. The missing data types is not surprising since they are hard to get get cash now no credit check across the entire country with so many MLSs and FSBO listing sites.
PIN also has a unique data type previous hardship which is a prior NOD but they fixed that. We know they will be back in trouble is the theory. Integrated skip tracing perhaps the holely grail was intentionally brain damaged!!! Instead of allowing you to use their coarse bad credit signature loans grained std filters (vacant or pre foreclsoure) getting a list of 500 records and batch skip trace the 4. It has all the expected rows, beds, baths, size, age, value etc etc.
Who listens to VMs these days and one that is generic. Sounds like spam without their name or house address.
Top tactic anyway is cold call to scrub the list for home owners, then SMS for followup. Crumps push button marketur is a good looking SMS campaign managemenbt platform! Propstream has many unique data tyupes MLS (decnet) expireds (questionalbe), pre foreclsure, divorce (where avail), mortgae and lien data from public records. IMHO decent public records data and transaction take out loan history. Good comp tool, great public records and transactoin data all in one looking for a loan with bad credit tool Kent clotheirs reww.
Been around maybe the longest starting out as find motivated sellers. Data set startss with vacant can add MLS, years of ownership, has the typical filters that CI PIN is missing, beds, baths, age, value, size all choosable in ranges.
They added a newer campaign side of the site with caned searchs for various motivation and a lead work flow from search, filter, skip trace (optional), direct mail (optoinal) low rate loans then export. But reww is missing a few sources of stress to increase the motivation in the basically just a vacant lead list. They have cash buyers and private lender data too which is what CI Ross was touting as micro-wholesaling advantage. LOL systems with the closed loop data sources take out loan are not unique to PIN, reww has had both sellers and buyers in same tool. Odd and frustrating CI does not have a PIN discussion forum on CI? For development purposes - If a CI PiN dev would like to get complete probate data, please message me!
So TIN, propstream, etc its always going to be hit and mis for each data type and may vary over time since as Ross mentioned take out loan a data providor being good then going bad, then re-negotiating or change data vendors then improving so the data business must result in an operator having no hair. The word "campaign" has an iceburg meaning, in that its a huge feature set IE investorfuse. The older tool freedomsoft is supposed to have lead and campaign management. CI TIN has no lead management, understandably its very very new and just now getting on top of lead data types and searching to produce a list with integrated skip tracing.
Then you export your list and use what ever tool to do mailings, SMS etc. And campaign management is manual, you have to keep track of which list yoiu mailed 3 weeks ago etc. And who responded and what you accomplished with each call back.
If you can get all of these complex issues addressed, then PiN will be an extremely useful tool that I will be happy to promote to all of my real estate colleagues!
It is the 5th version and ironically has 500 Million property records.
An insanely complex development challenge but will give our members a huge advantage. To make sorting through that many records take less than 3 seconds for the user was a huge win (Happened today :) This new data allows us to greatly increase accuracy!
Why keep throwing good money after these bad CI programs!
Hi, I listened to the presentation last night and I had some questions that i was not able to get answered some were answered reading the comments hear but not all specifically about pricing after you get started. However, one thing i did not see you are others here mention the funding piece that you offer. I think that is a game changer for rehabber and buy and hold. Hey Ross I attended your 4 hr webinar yesterday it was one of the most comprehensive webinars ever. So thanks for educating us on new features plus add-ons being complementary for limited time. So I am in midst of Podio development for my Real Estate Investor and Wholesaling business.
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