All Forum Posts by: Bradford Ortlund

@Yia Her

Thank you the clarifies it a bit, do you know of a good resource to look these lenders up on? I am sure the properties might be a bit harder to find, however once they are found they are great. I was thinking to Refi, rent the unit I was living in, and go do another 203k (I believe you can only have one at a time). Duplex/Multifam is where I want to be!

@Antoine Martel

Absolutely! The 203k strategy is one that I think would compliment a turnkey buy and hold strategy well and give me full exposure to the investing world off the bat. 

Feel free to PM me, I'd love to hear more about what you are doing and if you have any ideas!

Hello there!

I am looking into doing a 203k loan for the first property I purchase for my wife and I (she's a trooper), I am looking into finding a multi family property, fixing it up, and doing a refi when the time is right. However I don't even know where to begin when it comes to finding these types of lenders, what to talk with them about, and once I am qualified for the loan where to find the types of properties I am looking for. My wife and I have above 750 credit, not great assets (just married, straight out of college, stoked on RE), but putting money away with the intent on carrying out this strategy which we believe we will be ready to start in the next 12-14 months.

Any thoughts or ideas would be welcome!

Blake Brose Thank you for reaching out! Feel free to PM me but I’ve been working on my plan for the last few months. I’m looking into wholesaling and flipping in Southern California and taking that cash to the Midwest and back east, really wherever the numbers make sense for me. How are you involved in investing? I see you do agent work and remodeling. I’d love to learn more about what you do, maybe we could work together in your area?

Originally posted by @John Acheson:

Bradford, welcome to the community! I just signed up less than a week ago and it's led to over 100 emails/messages/texts with and from states, cities, brokers, lenders, buyers, title companies, etc. Everyone is so helpful and I love that creative solutions are almost endless in Real Estate. Never give up, John

 Thank you John!

I am looking forward to the same experience! Thank you for the encouragement and best of luck to you as well! 

Originally posted by @Navid Sadighi:

Hey @Bradford Ortlund

I'm a new investor in SoCal looking to network, feel free to contact me and we'll chat.

-Navid 

 Hi Navid,

Yes, let's connect I would like to hear your thoughts on the socal market and network with you

Originally posted by @Logan Allec:

Welcome, @Bradford Ortlund

SoCal can be a tough nut to crack for newbies.

A couple years ago I mailed out lots of letters to homeowners in LA County with no luck.

Then I tried rural Kern County and got a deal from a distressed homeowner in California City.

The margins were not as large as they would've been in LA or OC, but I was able to rent it out for 2 years before fixing it up and selling it for a decent gain.

Also, have you considered an owner-occupied small multifamily for your first deal?

You only need to put 3.5% down, so cashwise it won't get in the way of other real estate goals you may have.

My first deal was a 4-unit up I bought with FHA 3.5% in Santa Clarita.

I lived for free (as opposed to paying rent) + enjoyed cash flow + built equity. It was a great investment (and still is).

Good luck!

 Hi Logan,

I hear you on that! it seems like a tough market to find good rentals in, so my thoughts have been that the market may be better for the wholesale/rehab/commercial scene. Again I am new but would love to hear your thoughts. My wife and I are considering the live in multiunit with an FHA option but aren't really sure where we should start. I'm also looking into a lot of rentals in the midwest but am having trouble figuring out how to finance the deals and learning how to utilize an entity in the process of owning the properties. I would love to hear your thoughts, especially with your CPA background. If you are free i would love to connect and discuss.

Originally posted by @Nabil Suleiman:

@Bradford Ortlund

Welcome to BP, im local with you, let's connect over coffee?

 Hi Nabil,

Let's connect feel free to PM me and we can set something up. I am looking forward to speaking with you.

Originally posted by @Matt Motil:

Welcome to BP @Bradford Ortlund! Best of luck to you! 

 Hi Matt,

Thank you! I would like to set a time to talk about some of the work you do in the Ohio area. I browsed your site and would like to know more about your process. Let me know if you would be free to connect in the coming week or so.

Originally posted by @Brett Goldsmith:

Welcome. Happy to share my knowledge about investing or answer questions about short sales, foreclosure prevention, or other loss mitigation work out options. 

 Hi Brett,

Thank you for reaching out! I would like to connect with you, I am not well versed with the areas you specialize in but would like to know more about them especially since you seem to be an expert from what your profile says. Feel free to PM me and we can figure a time to connect