All Forum Posts by: Blake Dennis

I called the county assessor and they were happy to provide me with a list of all multi unit properties in the county. I wanted all properties 2-4 units, but they said it would be more trouble, because they classify 4 units and up as apartments and are taxed differently. I am mainly looking for duplexes, but wouldn't rule out a 4 unit as the financing would still be a residential loan. However, I am getting a list for all 2-3 unit properties, and it might cost me a few bucks. Still a good way to find absentee owners and possible off market deals. The market is hot, and properties listed are moving fast, so I am taking a different approach into finding something where I can make the numbers work. Thanks for the help!

Thank you very much! 

Was wondering if anyone has any experience talking to their county about getting specific lists of houses in a certain area they are investing in. If I were to find small multi-unit properties (2-4unit) that are owner absente? Is this something you can get from your local county assessor? I have heard of things like "list source" and whatnot, but was thinking there should be public information on these properties, because the tax information is public record. Am I missing something here? Thank you for your tome time

To listen to my parents more, and learn as much as possible about financial literacy. Slow the brain down and focus on the little things people tend to take for granted. It can all disappear so fast, so enjoy what you have, build with what you got, and prosper in everything you learn. 

There is currently a deal available that seems pretty decent, still have to look at it, but have a few questions.

The property is zoned both commercial and residential. There is a store front with two spaces streetfront property. In the rear of the property is an attached home, that could be used as a rental and is zoned just so.

The idea was to run a business out of one of the store front locations, and rent the other out as well as the residential property. Now I am not really sure how a lender would structure this, but that can be discussed with said lender.

My question pertains to legal entity. As far as running a business, would an LLC be enough to cover the whole property, or would it make more sense to structure it in a way that was separate from the residential.

This question is just off the top of my head as I just came across the lead, and am going to look into it more. any ideas would be appreciated. Have a great morning!

There is currently a deal available that seems pretty decent, still have to look at it, but have a few questions.

The property is zoned both commercial and residential. There is a store front with two spaces streetfront property. In the rear of the property is an attached home, that could be used as a rental and is zoned just so.

The idea was to run a business out of one of the store front locations, and rent the other out as well as the residential property. Now I am not really sure how a lender would structure this, but that can be discussed with said lender.

My question pertains to legal entity. As far as running a business, would an LLC be enough to cover the whole property, or would it make more sense to structure it in a way that was separate from the residential.

This question is just off the top of my head as I just came across the lead, and am going to look into it more. any ideas would be appreciated. Have a great morning! 

I have not done any deals yet, and I am ok with that. I have been home 3 months and am looking currently to make something happen. However, this isn't about me. I was just saying that the podcast has quality content. I have read plenty of books on real estate, finance etc.. The podcast is just a great source of info and a convenient way to learn. There is advertising on the podcast by the shows sponsors, however, people don't come on there pitching sales. I don't feel like anyone's trying to sell anything. maybe bigger pockets books. I know what you mean though. Its a bit off putting when you are trying to learn or listen to something and its a one sales pitch after another. The podcast isn't like that. I really like it and recommend it. its inspiring . that's all. 

and by the way... Welcome Devante! 

Have you listened to the podcast. There is over 500 episodes covering everything from "Soup to nuts". I have also read a lot of books, but the podcast interviews real people....Doing real-estate. and there are so many different examples of how people navigate this crazy awesome niche of investing. I personally started from the beginning and am 150 episodes in, plus current on the new ones. Every episode has a plethora of information, most of which you wont read in books, and many of the books you will read are mentioned on the podcast. Not only that, but sometimes they even have the authors themselves on to talk and that's pretty cool. Its very inspirational to hear about regular people, and their story of starting out like us, just like this, and making big moves in the industry. If you have not looked it up, you need to check it out. 

on top of that I'm sure there is investors in your area.. Find someone that is doing what you want to do and reach out to them. build relationships. That's what I am currently doing now, and it only makes sense to not try and re-invent the wheel. Learn from others who are already successful in what you plan on doing.. Then make a plan. 

Look at properties in your area and run them through the analysis calculators on this site. Those things are phenomenal. There is so many ways to learn, but eventually, you got to just get your feet wet. mine are going to be soaked in the near future. So good luck to ya and I hope to see ya at the top...when we get there!!! 

I went through the same sort of situation. I was recently released from prison and quickly gained employment. Although you just lost your job here is how the situation is similar. The bank requires work history. after 3 months and having decent credit, the bank said they wouldnt lend me on a conventional loan unless I showed 2 years work history. With that said, they could keep the loan "in house" and lend on a ARM, but only after I show 1 year work history. I have money for a down payment, credit is good and I make an OK wage. Still doesnt matter. They want to see that you have that work history. Now we wait.. Good luck though. I do know there are other ways to finance a property. I called some local investors in my area, and they happen to loan money as well on a 2% margin compared to what the bank charges with a respectable down payment. So there is ways to do it if you dont want to use a bank. Oh yeah, I also asked about a Co- signer and the loan originator said I still needed the work history. Again, this was just one bank. I plan on talking to some of the local banks in the area, just to start building relationships and seeing what they have to offer. Just becaue someone says no, doesnt mean you cant. there is always a way if you really want to do something.. Good luck!