Mason Dragos

@thmoneycircle I can do it! Send me the zip code and I can get you terms

Anybody have DSCR or long term product that will go under $50,000 Long shot, but if so drop terms in comments. Thx.

@colinushkowitz You book someone to walk the houses on DoorDash?

Buying houses I’ve never even stepped foot in and just DoorDashing someone to go walk them for me. Never would’ve believed this was possible when I was desperately chasing my first deal. Now we’re buying multiple houses a week like this. Beyond grateful. Let’s go.

@augustagarei @TheJSantiago I won’t sell another property without getting an inspection report when selling to a retail buyer. I’ve had so many fall out of contract because the buyers inspector makes a 100 page report. A couple hundred bucks and then knock out 20 little items.

@TheJSantiago Yeah just nervous repair requests are gonna be big

This turn makes me nervous. Original bid $20k. Couldn’t stomach it. Dwindled down to $13k. Fear we have a large list of repair requests on the way. Will be on the market in 10 days or so. We will find out.

@Erik_Bins @J_Koenig21 With conventional financing yes! But not a dscr loan.

@MasonDragos @J_Koenig21 Looking at another STR property myself. You able to do 90% financing?

I've been working with a new DSCR lender on a deal and they just sent me an invoice for the appraisal... $900 Yeah, no

@shawngorham I couldnt imagine spending 1.4+ million to make 30k on a flip.

This is my BEST guess at the numbers of two flips that went into escrow this week, that I looked at. The brokers and I agreed on absolute MAX ARV so I think I am within $25,000 on exit value I could be off on rehab costs, I GC my own jobs so I can run pretty lean but someone is always cheaper In both cases the brokers said the wife is a broker the husband is a contractor (my wife and I are also) Bottom line - wife is using her commission income/savings into the profit and the husband is using his GC profits to make the deals pencil, without both those at play both these houses lose money. So basically they are buying their work - to be id rather go broker or go GC for more profit less risk

@Jacob_Naviaux Nope, nothing happened. Luckily I paid 16k for a house. The interesting part is that title insurance only covers the purchase price (not any assignment fees), so if they had a 50k fee on top of a 6k PP, title insurance would’ve done basically nothing!

@MasonDragos What ended up happening in the quiet title suit? Was it an heir that took up the case?

We bought a property from a wholesaler who impersonated the seller and stole it from an unknowing homeowner. Found out months after closing when the real owner showed up to the house that was actively being renovated. Here’s how the fraud went down 🧵 The wholesaler created a fake ID for the seller, gave himself a POA to sign as the seller’s “Attorney-In-Fact,” and set up a fraudulent bank account in the seller’s name. The closing attorney never verified the ID. Just accepted a PDF along with the POA and let him walk in and sign. Both the assignment fee and ultimately the seller’s proceeds went to the wholesaler. Months later, the real homeowner showed up to a property being actively renovated. Lawsuit filed. Title insurance got involved. Lessons for every investor: → Always buy title insurance—this is exactly why it exists → Push your closing attorney/title company to use ID verification software—especially when someone is signing as Attorney-In-Fact for the seller → Fraud like this exists. The more deals you close, the higher the chance you encounter it—stay sharp

@realestatedude0 In Miami now!

@MasonDragos When’s tennis ?

Texts from wholesalers. They need oversight. 99% are clowns

@realestatedude0 Hahaha this is awesome

So I called the seller directly and sent him this screen shot.

@MayorOfLA The city of Los Angeles has done everything it can to move production out of the city.

I’m pleased that Baywatch will continue to film right here on Venice Beach. When I heard there were issues with Baywatch filming in Los Angeles, my Office took immediate action with Councilmember Park to clear any City-related barriers, including making parking easier and more affordable for the production.  This was a team effort, among my Office, Councilmember Park’s Office, the County, Coastal Commission, Fremantle and FOX, and I’m thankful for this continued partnership.  The City of Los Angeles will always clear bureaucratic barriers, making it easier and more affordable to film in the entertainment capital of the world.

@pitdesi Agreed. Among a few other annual things Amazon should build in as add ons to the prime membership.

Why doesn’t Amazon/One Medical build a Function Health competitor? Seems like an incredible upsell opportunity- bill insurance for part of it, use their existing phlebotomists/physical locations, and layer on advice from doctors.

This is the closest footage of the Moon ever captured Firefly Aerospace’s Blue Ghost lunar lander orbits just 60 miles (100 km) above the lunar surface giving us a breathtaking view like never before

@SunShakSunday I built it to be more actively involved, but I am working on a revamp to be way less involved. Dm me! Happy to do a demo.

@MasonDragos hmm. this is pretty. but is it the same thing?

I'm thinking about building an Expedia for Hard Money Loans so real estate investors can easily find the best leverage for their next deal Already have an MVP I'm embarrassed to ship Who wants to test it & give me feedback? Comment 🙋‍♂️ below so I can DM you

@TheJSantiago Did you record a loan or just sign a JV document?

New seller partnerships flip under contract in Ohio Not purchasing the property from him, but paying him once we resell for top value Projected Numbers are: Sellers Owed: $130,000 at closing Renovation: $30,000-$35,000 ARV: $275,000-$300,000 Should net anywhere from 70-100k on this one

@Ryan_Zarzaur I got you here Ryan! I will dm you

Can’t believe no one wants 12% secured in 1st position This house appraised for 948k in Feb and literally just needs to be cleaned out 10k clean out and it’ll be very aggressively listed Have multiple buyers interested at 650k Timeline is my issue, we need to close April 1

@nojumper Game is …. Game?

Several women shared alleged DMs from The Game, saying he sent them the same vending machine pickup line.

@levelsio Also thought this was strange when I was there a few times. Mainly due to the electricity cost to run them people are much more selective where they are in the home.

🇧🇷 There has to be a reason why majority of houses in Brazil only have AC in the bedrooms but not in the living room And the living rooms get insanely hot in the summer (which is December-March, opposite of US/EU etc) Literally majority of the Airbnbs we stayed didn't have AC in living room Good thing is they at least have AC in the bedrooms though unlike Europe which doesn't have any AC usually But still not Asia where the entire place is fully 16-18'C ACd in every single room, how it should be!

@realestatedude0 It’s actually such a rip off. I get pre-listing inspections on all my flips for this reason.

When you sell your home in certain cities, you have to pay $300 for an inspector to come into your home and rip it apart with code violations. Then you have to give the report to the buyer 😂🤦🏽‍♂️… which will result in a price reduction or credit.