All Forum Posts by: Chad Rakestraw

Hey guys, looking for your recommendations on companies that will refinance our first STR. We have owned it for 6 months and have 2 months to show in rental income. Thanks ahead of time.

Hey Guys, I have a 6 unit in Memphis that im needing to find a possible commercial loan for. Anyone know commercial lenders in Memphis or navigated this? Needing to know the terms and rates to accurately run the numbers. I appreciate any recommendations or advice you can give. 

Thanks Tim, will do.

Looking to connect with any investors or property managers in West Memphis. Looking to purchase a multi family unit but need to know more about the area. Appreciate any help.

Good word @Andrew Kougl and @Katrina Razavi, appreciate the feedback and wisdom. 

@Rick Martin thanks for the information and feedback. My initial thought was going into a partnership but got a bit greedy on the idea of owning it outright. 

I am a brand new investor looking to buy my first property and came across a 10 unit out of state that has a really good looking P&L. There are minimal repairs needed and the property seems to be in really good shape in a not so good area. The upside is the rent costs per unit are below average for the area and the property itself seems cleaner than most options. I know the risk given the current rental moratorium. It costs 450k and is showing a 40k a year net. I would obviously use a property management company to manage the property. 

My questions are..

1. Is this is a smart idea to utilize the majority of my investment capital to go straight into a 10 unit out of state? 

2. Wheres the best place to try and get a loan for a 10 unit like this? I knot it needs to either be a commercial loan or a private capital partner. 

Thanks ahead of time for any wisdom you can provide. 

Hey there, my business partner and I have began looking for properties anywhere in the metroplex. Our ultimate goal is to buy and hold multi family or SFH, ideally with the brrr strategy. We are willing to do flips, but only for the reason to reinvest that money back into buy and holds. We are on a lot of wholesaler lists, but with their fees involved the margins seem to diminish quickly. We also dont like the idea of hard money and dont have the cash to purchase deals under 100k. We feel like a small fish in a big tank of sharks here in our home town.

We are looking into hiring a VA to begin driving for dollars and cold calling to get ahead and try and get our own off market deals but that seems overwhelming with us both having full time jobs.

I am not opposed to investing out of state because of prices rising here, but I also love the idea of investing in properties here because of the appreciation. 

I know this is a bit all over the place, but would take any advice any of you would be willing to give to us. 

Thanks ahead of time.