All Forum Posts by: Dylan Tettemer

Hey BP,

So this is my first deal that I have the possibility of attaining and could use some advice on a good idea of how to structure it! So I originally found a duplex that I was going to use the VA loan for to attain because I didnt have enough for a down payment with a conventional mortgage. However, my agent just found out that the same owner of the duplex is selling another right down the street thats the same style as the one I was originally going to buy. I am currently working on getting the numbers together to analyze everything but wanted to hear everyone's ideas and what they would do if they were me. I appreciate everyone's help!

@Andrew Merritt Depending on how motivated the seller is with the duplex, you may be able to negotiate a price with the condition of the HVAC. To replace the furnace and the condenser outside will run you a good few thousand dollars so negotiating that into the price will help for sure. The cigarette smoke can easily be removed too so I wouldn't worry about that too much. 

I would personally go with the duplex because that is more of an opportunity to get a deal on the property itself.

And I am actually moving to the area so I would love to be able to connect with you a bit and see what you think about the area!

Hey Abena! That's awesome that you are looking into the Myrtle Beach area. From what I have seen and been recommended is south Myrtle Beach. I have been working with @Caleb Coblentz for that area and he gave me some great recommendations. He is a realtor over there and will definitely help you out a ton as he has with me :)

Definitely check out the videos that Brandon put on YouTube. He analyzes different types of deals step by step and you will learn how to check out properties and how to analyze them. There is a good bit that goes into analyzing deals and properties so definitely check them out!

This was a great read for me because I am a contractor by trade and was looking to do the work on a house myself and also may be going into a purchase with a partner. Thank you very much for sharing your experience :)

I am interested as well but not currently in South Carolina at the moment so if we could do a facebook live, skype, facetime, etc. that would be awesome.

I think my biggest fear is things getting out of hand and out of my control so I end up losing money or getting myself into a deep financial hole. And to overcome that, I just plan on speaking with other investors who are more experienced than me and see what their strategies are for investing

@Larry H. that's interesting! I'll definitely have to look into more small banks in the area! Was it with a portfolio lender?

@Larry H. that's really interesting! How did you fund the deal?

So I have been studying more and more into creative financing and different ways to purchase properties with a low amount of cash needed. I have also noticed that a lot of people want to get into real estate with a very low amount of cash for the entire process. As I have been looking more and more into it, I have come to find out that going into purchasing a property will require some sort of your own cash at some point including attorneys, appraisals, inspections, etc. 

Has anyone actually been able to have these costs covered or not needed or am I right about actually needing cash for this?