All Forum Posts by: Jason Eyerly

So as part of my initial ad campaign I know that I want to have a direct mail campaign for a month, limited to $1,000. I'm wondering how I get started with this? All I really know is that I need a list, likely from ListSource, but how do I design the fliers, who prints them, etc? I'd prefer to seal and stamp them my selves if it would be cheaper than someone with a mail certification, but I'm not sure about the design or print out aspect and how much each piece of mail should cost. Any advice?

Best Regards,

Jason Eyerly

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Originally posted by @Chad O.:

Jason,

My bank will loan 30% of the appraised value for a 10 year term at a variable rate. I also think banks are more reluctant to give you a HELOC on a rental, or other property that is not considered your primary. Great leveraging strategies btw..

Well, best of luck to you! Be sure to come back and let us know how it goes!

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Someone correct me of I'm wrong, but isn't there a % limit of what banks will give on a HELOC loan in relation to the appraised value? Also, what are the typical terms and rates on these loans?

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Originally posted by @Chad O.:

Jason,

Great insight! I am not that familiar with the "Hard Loan" strategy but.. yeah that seems like the best bang for your buck, especially if it is bought RIGHT going in.

My dilemma is making the house that bares the HELOC ( needs some work) more marketable buy investing more money to attract a buyer/tenant and still having left over funds to put towards additional property. Orrr just taking the HELOC, sell and walk away. Decisions, decions..

The cash flow from a new property can also be used to finance or even secure a small personal loan to fix up your current Residence and then you could turn around and sell it and work from there. If you buy a cash flowing property and you have equity in it from the get go that makes it even sweeter.

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I think that using the equity in your home towards the down payment of another home is your best bet. You could either take the money and use it towards a private or hard money loan to pay the down payment and do a couple fix and flip, or use it towards a conventional mortgage on an already flowing cash flow Property and enjoy the bonus income. I personally would do the previous, because I'm looking to create some net worth. However, If I was further into my investing and a bit more established I would be looking for cash flows as well. You may even be able to do both if you can pay 20% down on a conventional loan and have anything left over for fix and flip. So you've got a lot of options really.

As for the rates going up over night, be careful there. That's what people thought the first time before they couldn't afford their homes anymore!

Best of Luck,

Jason Eyerly

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Can you use a hard money loan to obtain a HUD home that has been opened up to not just owner occupants, but anyone willing to bid? Also, are you allowed to go through with the listing agent to view the property and take a contractor with you? I've just learned of these today and am interest ed in how investing in them may be different. I imagine it's much easier since they are foreclosed FHA, priced to sell, and offered at discounts. Any resources, links, or info would be appreciated.

Best Regards,

Jason Eyerly

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This is awesome, wish I knew sooner! Maybe next time.

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Forgot to mention I'm in the process of getting my real estate license in Indiana.

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Originally posted by @Aaron Yates:

Originally posted by @Jason Eyerly:

Originally posted by @Aaron Yates:

Originally posted by @Aaron Montague:

@Aaron Yates this is why I look at ROI when computing the returns on a property. It is a good way to compare deals that aren't even remotely similar in price tag. This 200k multi meets my criteria at 99k. If I invest 25k + 5k in closing, I need to see $4500/year to meet my 15% ROI.
If I buy a 25k SFH, I need to put 20% down + 5k in closing. My investment is 10k total. I only need to see $1500/year here to meet my 15% ROI goal. The sunk costs, closing specifically, hurt more with lower priced buildings.
Your point about the markets is vitally important. There are markets where there is money to be made in every aspect of RE. In other markets the only place to make any money is notes. This process goes on and on and then changes as soon as the market floods.

Maybe my math lessons in school were different than yours but I get 25% plus Net ROI in my market. But I stopped advertising this because so many people basically called me a liar. And for a $25K property here in Michigan, if you are paying 5K in closing costs you are getting screwed!!!

My point to responding is to open @Brandon Gentile s mind to other opportunities other than multi-family. I also have been digging deep into apartment comlexes and multi-family. But in our market, the ROI is still much greater with SFR.

But then again, I do manage my own properties, I do rehab my properties to the point of not needing repairs for many years and to a higher standard than most for the areas I invest in, I do buy properties cheap and rehab them because it doesn't scare me.

So my decision process is simple. Oh.. and I do buy without using any percentage rules. I buy simply based on what I feel is good for me and what I can afford and as long as its not in a war zone.

This probably makes some of you cringe but not everything needs to be done by rules in investing.

I'd disagree. No investor will be successful without a system or a defined set of rules they follow. You may be succesful now, but there's always the future. Any of the greats will tell you that.

And who exactly would that be you are referring to? You should recheck your information... I may not be the next J D Rockafeller whom was BIG on people creating their own wealth by NOT following the ACCEPTED path for success.... but I have accomplished alot and dont need to explain myself to anyone. Im here to help people so they dont have to struggle like i did in the beginning.

Everyone is entitled to their own opinions...

.. but opinions are NOT fact and should not be pushed on others. I speak only of real experiences and NOT of what OTHER people claim to be true!

But thank you for your response. It just proves my point i have mentioned many times on here about people speaking about things that they dont know anything about!

Someone gets overly defensive when there's an opposing opinion, huh? Calm down, guy. I was stating what's been quoted many times by very succesful investors whether you like it or not.

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Originally posted by @Aaron Yates:

Originally posted by @Aaron Montague:

So my decision process is simple. Oh.. and I do buy without using any percentage rules. I buy simply based on what I feel is good for me and what I can afford and as long as its not in a war zone.

This probably makes some of you cringe but not everything needs to be done by rules in investing.

I'd disagree. No investor will be successful without a system or a defined set of rules they follow. You may be succesful now, but there's always the future. Any of the greats will tell you that.

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All Forum Posts by: Jason Eyerly

Jason Eyerly has started 51 posts and replied 288 times.

Post: How Do I Start A Direct Mail Campaign...?

Post: HELOC... Yes or NO??

Post: HELOC... Yes or NO??

Post: HELOC... Yes or NO??

Post: HELOC... Yes or NO??

Post: A Couple HUD Q's...

Post: DEAL MAKING OPPORTUNITY (SOUTH CHICAGO SUBURBS)

Post: Looking For Partner/Investor (Good Offer!)

Post: Four-plex help in Michigan

Post: Four-plex help in Michigan