All Forum Posts by: Chase Busick

@Stephen Jones congrats on finding the deal & hopefully you are able to keep it or work it all out!

You should definitely look more into seller financing that way you can propose options to them, maybe that way you can have them cover the rest for a certain amount of time. There’s a few options you can go about it which may be the best & could potentially offer them good terms/deal on carrying some of the remainder of the down payment/costs. It’d almost be a50/50 since you got the bank, then can also offer them payments/interest for a period of time if you were to work it out with them (which won’t be as bad as a complete seller finance deal, especially if they’re looking to reuse that $ for a new deal) as long as they’re open to it..?

It is quite a bit of money for the remaining amount of the down payment, but you can definitely find a lot of different ways to cover it, whether it’s personally, or bringing on private money lenders from people/investors you potentially know? Or hard money lenders which will definitely be the most expensive/costly depending on terms. Maybe bring on a limited partner or jv? 

There’s a lot more potential creative ways you could finance it as well. 

@Victoria R Moos congrats on deciding & wanting to start w/ investing in rentals. Definitely a big & hardest first step is getting into it. 

Hopefully you’ll be able to connect with a lot of other investors within Silicon Valley, attend groups & leverage their connections, partners/vendors & relationships as you build your own!

Biggerpockets has a ton of resources on no-money down strategies & techniques that I’m sure your familiar with..? Can work a lot of different creative financing depending on potential deal & people, other investors & sellers. 

The biggest thing would be connecting with those people, then also finding solid deals within the market out there in order to get started. Whether that’s doing your own marketing, having good relationships with other investors, or other key people that can connect you to a deal, etc.

@Brandon Andreola Congrats on the deal!

Sounds like it worked out great for you, especially how you were able to manage to figure out & creatively do the house hack. Also a great strategy with the VA home loan too! It's such a great benefit!

What are your future plans within the AZ market moving forward?

 Currently looking at these options too asap & curious on how it goes for you! Was thinking that FF would be best, but know if they're more independent, they'll most likely look around themselves vs letting an agency set them up - that way they can choose the best option which may be closest, closest to what they are looking for in home layout, price with possibly being able to be able to profit more of the housing stipend, etc.

 So from your experience, most people will look across multiple sites? Assuming Airbnb is the most popular.

@Carlos Florez The market is crazy right now. Currently around the metro you can see the price per square foot raise anywhere from $15-30 over the past year in many popular areas. Supply & Demand is definitely at play, where there is a lot of competition with first time home buyer homes(under~200k), people moving in from out of state & investors buying. New Construction is a little behind in production technically & material costs are higher due to supply & demand too, but can still be considered. 

There's a lot of revitalization across the metro, businesses are coming in & bringing JOBS, which is huge. It's definitely becoming a more "cool" place to move to now, especially considering affordability compared to many other areas throughout the states. With that said, can see home values continue to rise as more people are coming here because of that. 

There's a lot of good areas across the metro & agree that most would come down to what you are really looking for, what you're wanting to invest in, goals are, etc. 

Great Post! Have definitely been contacting local property managers, so this definitely helps. Most are really solid so far & have options. It's also nice to know & listen to what extra info the PM's provide too. 

@Sarah Castor, Latter at the moment but have a lot of friends within Okc that do, or wholetail, STR, LTR, flip, etc. Ultimately a decent amount of work & have to have a decent amount of systems set up.

I haven't but have definitely considered it & found it very interesting which I'd love to learn more about! Have you just invested in that one or any more?

@Ray Isham, @Dan Travieso's post is definitely a solid one to consider & is what I typically recommend as well to most first timers. Connecting with people within your local area will be an awesome start by going to those networking events, talking & building relationships with them in order to lean on when you officially buy & start operating. You got some solid techniques/strategies your considering, since wholesaling & flipping is more better suited for short term cash, while buy & hold's are more for long term wealth building. 

Some key people to try & connect with would be at least 5 of each (that are hopefully investors themselves): Realtor's, wholesalers, property managers, contractors, vendors, & lenders. I'd make it a goal to connect with these people sooner than later, which can be easy to do at most REI networking events, meetups or your local REIA.

Creating some more goals will be detrimental too in order to get your first deal! There's a lot you can consider, so the more you learn will help!