All Forum Posts by: Calus Glispie

Hey BP its me again. Im back with another question that i need you guys help with. Now coming up this May 2020 i plans on closing on my first small multi-family triplex that i will be house hacking. Not going to lie guys but ive got "ants in the pants" because i want to get a flip started before i leave because Ive got the funding and the deals to close on but i am a little skeptical. Only really because i should just focus my all my energy on the triplex.

So my question is, How bad is a credit pull from a hard money lender? also should i just close on triplex and use the capital if i have  repairs and such then then look for my flip with hard money? or should i do the opposite and go for the flip right now and get make some extra cash for my move coming up?

Hey BP in about 4-6 months I'll be moving into the Michigan market from the Florida market to purchase my first small multifamily property to house hack. Specifically in the Belleville/Ypsilanti/Ann Arbor area. Ive been doing a ton of research on the area from its grow in the past to where it expected to go in the future but to be honest I just wanted to get some feedback from some of the real investors who are actually there with their boots on the ground. I've been looking for some BP or REIA meetups so when i finally get there i can personally connect with everyone.

Well thanks for reading if there is anyone in these areas plz feel free to DM me is love to chat thanks again.

-Cal

FHA loan into a duplex or triplex or 4 plex with a low down payment and house hack by living in one unit and rent out the others. Then refinance in a year out if the FHA into a conventional loan to reinvest the capital to fund future deals.

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*This link comes directly from our calculators, based on information input by the member who posted.

Hey BP i Currently just got finished reading David greene's book on BRRRR investing and i Absolutely fell in love with model. So since I've have decided to Implement this strategy in my own business, I think it's only right that i start to teach out to my CORE 4. I'm looking for Realtors, Contractors, Lenders, and Property Managers in the Tampa Bay surround area. The only stipulation I have is that you must also invest in real estate yourself and must be willing to work in a team well. PM me so we can talk

Thank you, Cal

@altonshady is this property still available?

@John Thedford ok my friend thanks for the information

I have a quick question for BP that i can’t seem to find a clear answer to.

Ok so my question is....when scouting for properties all over the glorious internet i usually might come across a deal from another investor with a property for sale on one of these third party site like Craigslist, Offer Up, etc. Now with my getting in contact and doing some research on the property i pass the information to my buyer and he likes it and wants to close. Now i know i can take the price from the investor and add my fee and top but i just wanted some Clarity on the proper paperwork. Would i need two assignment contracts? Will the buyer even continue with two assignments on the HUD1? Im daily new I’m real estate and I’m not ashamed to say so but if you do have any knowledge on this subject i would greatly appreciate some feedback.

Thanks again BP and may you have a blessed new year!

Ok so I recently got this property under contract from a distressed landlord trying to sell. Here are some of the numbers... SALE PRICE: $110K REPAIRS: $5K ARV: $140K HOA: $375 THE CURRENT RENT FROM THE SECTION 8 TENANT WHO HAS BEEN THERE THE PAST 4 YEARS HAS BEEN PAYING $1100/month EVERY MONTH ON TIME. THE TENANT KNOW SHE HAS TILL SEPT 2019 BEFORE HER LEASE IS UP, BUT THAT IS SOLEY ON THE NEW OWNER IF THEY WANT TO KEEP HER IN THE UNIT OR NOT. OTHER NICER UNITS IN THE SAME NEIGHBORHOOD ARE RENTING FOR $1,300+ SO THERE I DEFIANTLY ROOM FOR GROWTH. I MYSELF THOUGHT ABOUT KEEPING THE DEAL FOR MY OWN PORTIFILO BUT ITS BEST FOR ME RIGHT NOW WHOLESALE IT. SO MY QUESTION IS DO I HAVE A DEAL HERE OR NOT?!?

@Ashley Burks Try using the white pages app...that’s what i use but fair warning you do have to pay a small fee for the searches but its well worth every penny