All Forum Posts by: Dylan H.

@Michael Ealy

I unfortunately don’t think there is a recession coming anytime soon that will drastically affect real estate costs or rents. Especially no where near what we experienced in 2007-9. It would be great (obviously a very selfish outlook) if it did since I’m young and could take advantage of it, but I think people are missing key economic factors that show that our market has adapted significantly since the last crash. Times have changed and people learn, but I hope I’m wrong.

@Laurence Obi

Hey Laurence, congratulations! House looks great! Are you going to refinance out of the private money or have you already done that? What's your long term play? I wouldn't worry too much of a bubble since you have about 20% equity in the property if the ARV is correct.

@Ashley Williams No, not necessarily. You can attempt to structure the deal for whatever works for both of you. If you were bringing the deal and doing all of the work for it, it may make more sense for you to get a larger portion of the profits. From instances I have heard of people using private money for deals is much more similar to a hard money structure. Such as someone loans you all or most of the cash for the purchase and rehab and you pay them back both their principle and interest(simple) in however long you have agreed upon upfront. The person I know that uses private money (be it he is very experienced and has a solid track record) pays back the loan and interest after the flip or refi is complete and typically pays 8-10% for a year loan.

Hey @Ashley Williams from my research on hard money lenders it's hard to find legitimate funding for 100% financed deals. I think your best bet for 100% financed would be to try and partner with a private investor and do a split of the profits. If you really do have great deals then this shouldn't be a problem. You could also try and wholesale these deals you are finding to raise enough capital to fund your first flips or better meet more HML requirements.

Good Luck!

@Clay Ickes

Stuck renting?

How about an FHA 3.5% down loan?

The writer also does not consider the tax benefits when taking into account the “real” return. Uneducated author, I’m a millennial, I own my primary residence (house hacking) and plan on continuing to buy as much as possible.

I would definitely love if renting became the most popular trend for my generation long into the future, then I don’t have to worry about tenants.

@Cody Wood

Hey Cody, I just moved to Pensacola this past Thursday. The local REIA type club I've heard of is the Professional Investors Guild (P.I.G). Supposedly it's pretty good but haven't been yet. You can look them up on Facebook for future meetings.

Hope that helps!

Does anyone have any recommendations for GC's they have personally used or know has good references in Savannah, GA?

@Michael Temple

I think the $800-1200/month is kind of the sweet spot. It’s working class people that are not splurging on their rent or location of rent. Also, I think the better vetted your renters are the safer you are as well for a market correction or recession. If your renters are all beating the 3x rent for monthly income they are probably also ok to weather the storm in your property as well.

Does anyone having a simple one page offer document they use that they would be willing to share? Something that covers all of your bases for both simple cash offers up to more advanced documents for seller/owner financing offers.

Thanks in advance!

@Michael Deacon Would you mind doing a deeper dive into your quadplex in Pensacola? I have been looking for multi families there for a while and haven't had much luck on finding any decent options.

Have you owned the property for long? If not, how did you find? What area of town is it located? And what types of rents are you seeing compared to the price? (i.e. Are you meeting the 1% rule?)

If you're willing to answer, let me know! Or PM me