All Forum Posts by: Christine Smith

@Marc Rice so helpful thanks!

@Remington Lyman so is the best thing to do get it under contract and then post about it? 

Randomly came across this deal. We just bought a house so we don’t have the full down payment for this other opportunity.

Most people I speak with that are lenders need a minimum, need you to have some money in the deal etc.

I'm having trouble finding an equal equity partnership to fund the down payment. Produces 1.5% rule cash flow wise. No real work needs to be done and I've calculated numbers for typical HML loans and it's not a home run if for that type of financing. I know most times it's a relative or someone you know. My family is skeptical because I didn't find the multi unit on Zillow or the MLS lol. Are there any other strategies I could utilize? Thanks!

Hey all!

Can anyone explain how I can do seller financing or subject 2 BRRRR or flip with little of my own money? I figure if I rehab, I'd need HM but I've heard you can use "gap funding" to cover the cost? Does this sound right? Can anyone explain some creative strategies that may not require I have 20% (give or take) of the loan amount liquid? People say with HM you don't need any of your own money but minimum I've found is 20% of the loan amount is needed as skin in the game. Thank you!

Hello,

Anyone with experience in lease options can give some insight to using PM to purchase a property for a lease option. What’s the incentive to the investor? Is this too risky - would it be better to do a MLO if I don’t have the down payment for a home to do so? Thanks! 

Hey all, Let's say I find a deal I like (which I believe I did) for a BRRRR. I've analyzed the property, used bigger pockets calculator/propstream etc. and it looks like it'll work as a BRRRR. Is it best to put the offer in on the house first, then if it's accepted, look for hard/private money? And then just tell the owner that my offer is contingent on funding? Or do you typically look for hard/private money first?

Then after (let's say seller agrees) I have a contingency period where I can get my inspections done and have my contractor check it out? Then we can enter re-negotiations?

Thanks!

I agree lease option is definitely easier, the compromise is cash flow, correct? 

I've heard some people are very successful with it. What issues did you have that made you change your trajectory? Thank you!

Hello!

Can anyone give me some advice on renting by the room near a university?

-Manage with PM?

-Tenant Conflict?

-Utilities?

Any advice/resources would be appreciated!

@John Warren that’s kind of what I was thinking also, thank you for your advice!

Hello!

Looking to buy our first rental property. We found a duplex and after running the numbers everything looks like it'll cash flow nicely. It's not a BRRRR, doesn't need a lot of work.

What incentives would be good for a PM lender to assist with the down payment if it's not a BRRRR and I wont be refinancing it 6-12 mos after a rehab and pulling money out to pay them back?

Any more experienced investors - I'd love to hear some strategies!? Thank you!