All Forum Posts by: William Allen

I recommend going with an online lender as they will be your lowest cost loan hands down. I’ve never had a brick and mortar local lender beat an online lender. 

Inspector, I use Scott Burris with Pro 1 and he does a great job for us. My list of who not to use is way longer considering we see all kinds of reports on our flips (some written in crayon they are so bad) 

@Kurtis Montgomery

@Austin Jester, welcome. We have a great group of military investors in Pensacola. Look forward to meeting you once you get out there and settled. Great goals too!

@Frank Szymanski, welcome to BP!

@Tim Bergstrom, I invest in Chattanooga and live south of Nashville.  You should come out to some of the meet up groups here in Nashville as there are a lot of people there who invest outside of the area in Chattanooga and Memphis.  

Yes sir!

@Tae C., funny that you are telling a HML in TN there is no 100% financing when he is saying there is. Just send him a message and let him get you taken care of!

To the OP, @Ryan Bolt, consider using private lenders to fund your rentals and then refinance the cash back out using the delayed financing exemption. I have done that a few times and it’s great to speed things up, you just have to find really good deals to make sure you can get all your money back out. 

The HELOC on the rentals was a great suggestion as well.

@Lindsay Broome, I agree with @Tyler Work above.  Check out Pensacola Beach, Navarre, Ft. Walton and Destin.  Destin is certainly getting up there in price though.  You could take a look at Gulf Shores, AL or Perdido Key, FL to keep the prices lower but access is more difficult from an airport.  Like others have said, you will need to give up something if you want to keep the price down.  

@Kurtis Montgomery, have time to meet with @Kelly Kormos?

@Robert Smith, some great advice here from some local folks in the area.  Take them up on meeting with them and figure out how to find deals and get into a property.  You will learn the most by doing it, great education!  I would agree with what's been said, utilize conventional financing if you can.  That's how I started, saving up for down payments on rentals, then I would flip one, use the profit for a downpayment, repeat.  After that I started raising private money to use to purchase my rentals from friends and family.  

Lots of great options in real estate.  @Jimmy Moncrief is a great local commercial lender contact who can help you with investment properties as well.  Good luck!