All Forum Posts by: David Sanford

Anyone in the Central VA market interested in possibly partnering up for a few deals? I have purchased and done renovations on 10 houses and have gotten pretty comfortable with the process. however I recently purchased 3 turn-key units that left me low on capital. I'd love to partner up with someone who can finance the deal, while I find and do/manage the renovations.

I created a website and do google adwords to advertise it. its given me a pretty good return so far. I set my daily budget pretty low just to test it at $5 a day. I probably get about 3 to 5 leads a week. I'm sure if you spent more per day the lead flow would be much better!

I have done a few cashouts. my lender will take 75% of the rental rate and bounce that against what the new mortgage will be. as long as its higher then it's a go. I haven't heard of the approach you mentioned before.

nice job! kitchen looks great. I use Facebook marketplace for advertising vacancies. I also have had luck with the towns classifieds section on Facebook.

sorry for the cluster of numbers. it didnt look that way before I submitted it!

ARV of $200,000. repairs needed $25,000. I would get a hard money loan at 12% interest. after realtor fees and holding/closing costs considered, what should my max offer be? my math is this: 6% realtor 3% closing costs 6% hard money interest assuming 6 month flip 15% total $200,000 x .15 = $30,000 $200,000 - $30,000 = $170,000 $170,000 - $25,000 (repairs) = $145,000 $145,000 - profit goal of $20,000 = $125,000 $125,000 Max offer. am I off?

looking for short stories of success and failure when getting into real estate full time.. I currently have 6 rentals with 3 more set to close here in a few weeks. these are "easy" to manage with my full time job bc I typically buy turn key rentals but I really want to focus all my time and attention into wholesaling and flipping. however, my contract with the army does not run out for another 20 months.. I'm debating between finishing out my contract and going full time real estate, or staying in the Army another 10 years for retirement. My question is, who here has left their 9-5 and had success or failure and can you give advice towards the what lead to your outcome? Side note, We can live off of my wife's income/ rental income alone.

seller won't go more than 12 months.. rents for $700, $700, $750.

I am being offered 3 houses as a package deal for $210k. The value is $250k. It will be seller financing for 12 months and then a balloon payment will be due at which point I will pull a mortgage on them. However a bank will only give me 75% LTV which is about $190k. sooo I'll have to make up the difference of about $20k which I am fine with. my question is, is this really a deal worth pursuing? 3 year payback period and a 10% cap rate.

Thinking of partnering up with a friend or two on rental properties. There are so many ways to structure these. What are some ways you've divided up roles/responsibilities? I'm trying to gather ideas on how to pitch my partnership offer for buy and holds.