All Forum Posts by: Cameron Whitehead

You can do one of two things. 1) have the current owner get the tenant to sign a lease. 2) buy it and give tenant option to leave once the month is up or sign a lease with new rental amount. 

Laura, I think business cards are overrated. This day in age just a simple phone number exchange is how I do business. 

One way to look at it is the more debt the better. Someone else is paying that debt down for you and when the principal goes down the equity goes up. So in 30 years or whenever the term is for you will have that massive asset on your books that someone else paid off for you essentially!  

Eric, I understand all those metrics but rarely use them as a determining factor when I purchase. I just go off cashflow if it cashflow $150 a door and the down payment is manageable at the time then I go for it. Knowing all those metrics are good but find one you are comfortable with and take action. 

Hey Jack, unsure on that interest rate. I think note buyers want to see higher. I have a note I created and it's 10.5%. Make sure to use an RMLO to qualify the buyer and get a binder from the RMLO. 

Hugh, I always tell them I work with other investors and we will be having a few of them come by and take a look. Most of the time the sellers are in distress and just want it gone. 

@Daniel Hess ask him what his problem is! If it’s you or the tenants.

@Niccolo Fazio just have that conversation with the tenants and let them know this is not market rent tell them what you think is a fair market price. I am going to be doing that on a triplex I have under contract. I’ll let you know how it goes..

@Alexis Schreier you can’t go wrong with either. New Braunfels is in high demand and Seguin is where New Braunfels was 15-20 years ago and it’s on the up and up.

@Shanair Mills here’s a way to look at it. Will the 2-4K extra make a difference in 5-10 years (or however long you are going to hold it).. usually the answer is NO, it won’t. Don’t step over dimes to make a penny. Just my though.