All Forum Posts by: Cody Beard

Ok so I've compiled a list of 7 vacant properties in my home town. I've tracked down the owner on the GIS map along with the owners mailing address. Should I send letters? Knock on the door? What would you guys suggest?

I don't have a specific date, but at this point i'm simply looking for the right deal. There is a property here in Greenwood going up for auction soon and I've been debating on it. I'm nervous though about buying at an auction! 

Has anyone ever used WCAP Financial to fund anything? They seem like a fairly trustworthy lender, not trying to rip you off like some these other lenders out there. Just wanting to see if anyone has had any experience with them.

Nice to meet you Kevin! I’m in a similar situation. Bought a house to live in about a year and a half ago and looking to buy some rentals. I actually had to ride up to belton the other day and saw several houses that looked abandoned. Good potential for Brrrr’s. 

Ok, so another question. From my limited research, it seems that HML's usually do not finance 100% right? Maybe 100% of repairs but not 100% of the cash price.

So if I wanted to buy a property on auction - for cash - I would not be able to an HML right?

I jst don't know a lot about hard money.

Thanks

I am just starting out, and I have come across several properties that may be a good deal. The hard part of course is finding financing. Is it effective/lucrative to use hard money on a Brrrr? To me, it seems hard money would be best used in a buy and flip kind of deal. I'm looking to buy and use the Brrrr strategy.

When I listen to the BP podcast and read through strategies, it seems the best approach (for me) is Brrrr investing. However I always hear the focus on finding the initial funds, because of course that's the hardest part. But whenever they get to the refinancing part, they make it sound so easy. "Just go to the bank and refinance and there ya go!". But no one ever talks about the details of refinancing a property. What are the details? Do you have to have a certain amount of money in your bank account? I mean we're qualifying for a second mortgage here right? surely there is some amount of difficulty in refinancing a property. Does it require a down payment? how long does it take? Etc.  

Nevermind - I answered that question on my own after a little further research. Scam for sure.

Has anyone used privatemoneygoldmine to find private funders? The site costs to gain access to lender information. And I just wondered if anyone has used this site and had success?

I know that most seller financed deals are struck on off market homes. However, is it a waste of time to call a realtor about a house and ask about seller financing? I’ve seen several homes I’m interested in that have been on the market for a while now, and though about seeing if the seller would consider seller financing?