All Forum Posts by: Brandon Sturgill

I currently have interest in a SFH that is a complete rehab. The individual that purchased the house completed the initial steps, but apparently ran out of cash...Anyway, the house is basically gutted. I have good comps, but question the list price.

In effect, the ARV should be $160k after $25k in repairs, etc. The list price is $89k...any thoughts on this scenario?

Steven, if you are just starting out, you should check out the BP store on Bigger Pockets. J Scott has a book that will answer all your questions. And BP has a very understandable beginners guide. I don't have any connection to the authors of these books, but they are good resources to answer your questions.

Best of luck

I currently have $55k in equity in my main property. I have some favorable terms for a blanket loan and want to acquire two more properties with a loan amount not to excee $190k. My current mortgage balance is $74k with a mortgage of $608/mo. The payment for the new loan would be $940 (inclusive).

My initial thoughts were to cash flow the main residence, which would bring $1000/mo. in rent, buy a 1-year live-in rehab, and buy a short-term rehab/resale to project manage. I have W2 income and will have an additional $1000/mo. free to invest as well.

Any thoughts/strategies on this scenario?...

Kevin, thanks for the insight.

Thanks for sharing...quickly learning the private money aspect.

I do like the double closing option. I guess what I am getting at is that I want to purchase the house myself...and rather than complete the initial contractual/title processes, allow my realtor to be the middleman...I would plan on financing the deal (likely portfolio loan...or 3/1 ARM or something similar).

If your business model is a SFH rehab/resale, how did you finance deals for your first properties? Thanks

To be frank, I am not cut out for whoelsaling, but admire the strategy to locate a deal. My business model is high quality rehab/resale SFH's. Does it make any sense to assume the responsibility of marketing to motivated sellers and then throwing my realtor a bone by letter her represent both sides of the deal...I would then finance the property and rehab/resale. Any thoughts or alternative approaches...

Steven, I made an attempt to use this company and have similar feelings. I use PostcardMania.com. They are one of the most established and professional direct mail companies in the country. Discount direct mailers are a dime a dozen. If Click2Mail does not work for you, move on. You will find one that works. Good luck.

Almost forgot, current mortgage payment is 610/mo.