All Forum Posts by: Austin Largusa

 Super helpful

We’ve since zeroed in on Maggie Valley and Lake Lure. Not close to each other but the two areas we feel are best suited for us

 Would love to talk Asheville and the surrounding areas. Just spoke with a realtor today. Speaking with a lender tomorrow. Have entertained Weaverville, Black Mountain, and Burnsville

 I learned via Youtube and talking to people who have done them. It's reasonably easy to grasp, as long as you don't try to fill every single role. Find a team to help you: real estate attorney to draw up contracts, tax accountant/cpa to help outline the implications of this type of deal.

You don't really find those sellers. It comes when you discover why a seller wants to sell. If the opportunity presents itself, then you go for it. 

I’ve never let the hot market slow me down. In my first year I have 12 rentals all via seller financing or sub2. the only one who says you can or can’t is yourself 
 

Investment Info:

Single-family residence buy & hold investment in Clarksville.

Purchase price: $130,000
Cash invested: $14,000

Acquisition:
130k purchase price
$14k to seller
$600.24 monthly payment (3.25%)
5 yr term

Lease Option
Purchase Price: $215k
Deposit: $14k
Monthly Payment (to me): $1250/mo
Tenant pays all repairs and maintenance
Term: 3 years

What made you interested in investing in this type of deal?

I didn't have a lot of capital and wanted to get into the Middle TN area ASAP

How did you find this deal and how did you negotiate it?

I got this deal from Facebook. It was a lead that I followed up on
I negotiated the seller paying for $12k of work that I found from an inspection

How did you finance this deal?

My own savings funded the $14k to seller

How did you add value to the deal?

It was turnkey. Seller has just installed LVP, painted, and did the bathrooms

What was the outcome?

The outcome is we're making money every month without and deferred maintenance :)

Lessons learned? Challenges?

Always do an inspection

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

None

And to really answer your question lol

My team consists of handful of private lenders, a portfolio manager, an acquisitions team. Humans are resilient. You can do it! Don't give up

Brother I get it! That's why we got started in real estate. Our mortgage application was denied in 2019 when my wife was about to give birth to our third son. I felt so crushed and deflated. I honestly felt like a loser of a husband and a dad. But we learned that 1.6M families were denied in America in 2019. So we decided to be part of the solution. We buy properties and turn them into rent to own or lease options for families who are experiencing the same thing.

The single fastest way to scale in real estate is private money. That's #1 by far.

 Nice! Not too far away. You can do it. Lots of different things that you can utilize: private money, hard money, seller financing, etc. Where are you now with the portfolio?

Hey @Daniel Stevens, @Jeff Salberg

Im a little ways away from you in the Bay Area. But there are many ways to "skin a cat". Yuba City has tons of potential if you want to stay local. 

Or you can go out of state. I bought 12 properties in the first 6 months of investing in other states. It can be done. Let me know how I can help

@Nick Henry what part of California are you from? I'm in the SF Bay Area and am just a tad older than you. I bought 12 properties in my first 6 months of investing with literally $0 of my own money. There are so many ways to buy a rental. I don't even know where to start helping you lol.

1. Pick A Market

2. Build a team - deal funnel, property manager, contractor, and lender

3. GO!!!!