All Forum Posts by: Matt Crusinberry

@Colin Davis, I'm a little confused as to what you're asking exactly. You have an opportunity, and you state it's a great deal, but then you leave the reader in the dark. Could you please go a little further as to the numbers you're looking at? Also, can you give some of your some more information as to what you want to do with the property if you were able to obtain it? What is your end state with the property, and what strategies are you looking at doing? Thanks, and feel free to PM me if you don't feel like sharing with the rest of the page. Good luck!

@Brian M Sweeney, not only is this a terrible deal to buy (as your point suggests), but it's more so a terrible deal as a rental for $1,250 per month (0.5% of purchase value). If we ran the same numbers on someone trying to rent this out, they would loose $205 a month from the start. I would take that into consideration as well. 

Now, let's say you decide to rent this property out at a more accurate number. How much would you request a month for rent? With that assumption (the number of your choosing), let's say that it's cash flowing... Could you be saving that extra money and investing it into something else as well (as it accumulates, as if you purchased it for ownership)?  

Also, lets say you decide to live there for another 15 yrs. or the rest of your life (it's someones forever home), would it be worth it than, given the ability to save that extra money that you would have been saving. Obviously this is all market dependent, but this person did just receive a low interest rate on a home they may see themselves living in until their final days. As was the intent from the beginning. Does this change things?

This is an interesting topic that has been discussed before, and I appreciate you bringing it up.

@Tyrick Hasan Blocker, I don't know exactly where you are in the process. I would recommend you start saving as much as possible, and live as frugal as possible. You will always need a little start up cash, and this will help you with marketing, earnest money deposits, etc. I also recommend you continue your education by continuing to study the markets you’re trying to invest in as well as how to complete deals from start to finish, and the little nuances you may come up against. All the information can be found here on BP.

As a more direct response to your question, I suggest you contact your leads via phone or email. Try and get in front of them if you can. I have a call sheet that I use for my leads. I can send it to you if you would like? PM me and send me your email address. Also, if you have other questions feel free to ask. Good luck, and welcome to the community.

@Tina S., I suggest looking into Brian Murray's interview with BP's podcast 126 and 212. However, I personally have not moved into transitioning buildings. I hope this helps, good luck!

@Gerald Lemmons, I know if you become a pro member here on bp, roofstock is one of their pro perks. In other words, Biggerpockets promote them. I hope this helps. 

@Ryan Grisamore, I have yet to try any of these guys out, but they have good reviews from others here on bp. Good luck!

- Lendinghome

- Lima One

- Conventus

- Patch of land

- DoHardMoney.com

@Tony Marcelle, PM me your email address and I'll send you the paperwork that I use. I hope this helps. Good luck!

Hi Glenn. I don't recommend using your credit cards just yet. If I were you I would start putting money away, and if you're already doing this, continue to do so and live as frugal as possible. I would also look into Biggerpockets Money Show, they have great tips that will help answer a lot of your questions. I would also read as much as possible, starting with Brandon Turner's book (The Book on Investing in Real Estate with No and Low Money Down). 

Now, if you want immediate options I suggest looking into seller financing to help you finance the property and use the money you do have for repairs. This is going to take some out of the box thinking, and some negotiating to get the biggest bang for your buck. You may want to start with wholesaling, to help you build capital. I would also suggest looking into house hacking, and familiarizing yourself with all of these options (these ideas and more you'll be able to find in Brandon's book). But don't stop there, scour this site and all it's worth. You will not be displeased.

Good luck, and if you have more questions feel free to PM me. 

Pablo, first off congratulations on your new endeavor. I recommend using the BRRRR, as in using cash to buy and rehab, and then pulling your money back out to do it all over again. I also recommend you looking into other creative financing, as this will help you achieve your goals in your desired timeline.

In regard to whether or not to use an LLC or just leave the properties in your name is a topic that has been debated on BP for awhile. I personally do a little of both. If you research it, you will find out what works best for you, considering the risks you're willing to take. I hope this helps, and if you have further questions, please feel free to PM me or others on this site. There is no shortage of professionals here that have been exactly where you are. Good luck!!!

@Dwight Sands, I've used Shine the Light Home Inspection before and he did an excellent job (https://shinethelighthomeinspection.com), and reasonably priced. I highly recommend them. I hope everything works out for you.