At our March meeting Travis talked to you about how many rentals it would take to retire and how to look at all the numbers to make sure they are rentals that will cash flow consistently.
In April, please come join me and Kim Burke with Leader One Financial to learn how to buy cash flowing properties with lots of equity for little or no down payment. Yes, 100% financing for real estate investors is happening today and you need to learn and understand how it is being done. There are a few keys to this working and one of them is finding the right property. Come learn why today is the perfect time to be buying rentals and why the truly wealthy have either made their money or hold their money in real estate. Finally, you will learn a little known strategy that professional investors are using to buy cash flowing real estate without using much (if any) of their own cash! It is not hard to become rich if you know how. Come network and learn from experts that are successful in this business.
We meet once a month to bring real estate investors together. The meeting is free and is based around networking. Have a property to sell, service to offer or just want to join the local real estate investor scene please join us at our next meeting
here we go again :) I hope when doing zero down they underwrite very stringently .
have a great meeting.
@Jay Hinrichs it is still possible and we can show many examples of it even in this strong marketplace. Obviously not as much as it used to be, but it is still possible.
Yes, we do underwrite very stringently and make sure that we aren't getting people into something where it isn't going to be beneficial for them.
We also make sure that they are working with a refinance lender that will be able to get them out of our loan without any issues. All of this is looked at ahead of time, so they don't get into a deal and then have a problem when they go to refinance.
Oh I get it now your doing BRRR as the hardmoney lender.. that's what I did for a living for many years pre 08 crash.. that's how 90% of those buying turn key bought them..
they were all BRRRR....
We just don't need a replay of no skin in the game borrowers that walked like 08 to 2011 ..
but anyway carry on... have a great meeting.. I think the BRRR strategy is a good one.. although I think everyone should have some cash in each deal to keep them in the game ..
@Jay Hinrichs I agree, it is great strategy, and skin in the game helps keep them on task.
In my day all the turnkey outfits used BRRR they used me or someone like me to put their CA client into title .
we loaned at 65% LTV and when our loan went into place .. the turnkey company got cash out. WE got our points on that loan borrower had to pay our monthly payments.
we controlled the rehab draws.. ( which in hindsight could be dicy and a lot of work) then the clients would get a rate and term refi at 75% LTV . We got paid off and buyer usually got most of their cash back..
and with no seasoning requirements many times we did these in 60 days or less.. so the cash out refi was true cash out.. I did probably 1000 plus of these in 12 markets for all of the turnkey marketers and companies of the day.. most are long gone.. of course.. and the BRRR went the way of the dodo when refi's dried up.. so its been about 10 years and the cycle is back.. its funny the new crew of investors thinks this is some new wizbang way to finance stuff.. when it really something that was soup de Jour prior to 08
@Jay Hinrichs yep, we are on the same page. Great strategy, but nothing new.
All this talk of soup and refi's has got me hungry for some money and french onion @Jay Hinrichs
BRRR is always fun as long as it works! Good luck!