All Forum Posts by: Ivory Hayes

Hey Van, nice to have you on the site. You'll definitely learn plenty and receive tons of useful information.

Let me know if I can be of any assistance.

Happy Investing

@ Michael Hayes, I'm going through the exact same thing currently. The cash flow and roi is what caught my eye but I didn't know it would be this hard to find a financial institution to refi with. After doing some research and asking for helping hands myself I am dealing with imortgage in hopes that they will be able to make this happen for me with possibly a commercial loan being that I have more than one property in the same position. I can not vouch for them yet as I am just beginning the process but I am much further along than I have gotten with any other institution after hearing my predicament. PM me and keep in touch if you'd like, I'll let you know how this turns out for me.

I wish I could be more help in regards to setting up he contract, but I do have a small portfolio in Saint Louis with contacts on realtors, prop mgmt, contractors, etc. PM me if I can be of any assistance to you.

I'm a buy and hold investor and I actually got one of my first properties through line of credit. I wanted to keep overhead as low as possible so I bought in the midwest and line of credit was enough for a complete purchase. If you can't generate enough money to come up with the down payment for a conventional loan you could always go after seller financed deals.

Much success to you Adam, stay positive!

Lol... I'm sure it happens quite often but that's the first time I've heard of it.

Well assuming the term is a 30yr term then it's at the height of it's extension. If it isn't you could extend the term in order to reduce overhead and increase residual income.

Good cash flow is situational. Everyone's situation is different. What you may consider good cash flow may not be the same for someone else and vice versa. Obviously 700 cash flow would be great but on some investments people only make 200 cash flow but that property is situated in a good neighborhood and has tons of potential appreciation in the near future so they're willing to take that investment. Think about it this way...

Cover all of your overhead, every expense related to this transaction... Now much would you like to pocket every month on the deal in order to assist you in acquiring the next piece of property.

It's all relative to your particular and current situation. But if all has been taken in to consideration and the bottom line is 500 in pocket, I would say thumbs up. You'll have your investment back in 3 years!

Is this on a 30 yr term and is it within driving distance? I ask about the distance because if it isn't within a drive away, then you also have to consider prop mgmt fees which take away from your bottom line.

@ Frank, this could be a really positive investment but it also depends on how much you're forking out monthly as well. What are the rest of the terms, length of agreement and interest rate. Also, do your due diligence on value of the property. Be sure that when it comes time to refi or sell, that the value is there.

Congrats and stay positive!

@Rob Hood his name is Ron James Jr, aka Ray James Enterprise. Have you heard of this guy or his entity? I would love to spread positivity if you have a positive perspective to add..?

@ Wayne Brooks by public records do you mean county records office? I have a suppose to be all in one lender/investor in Saint Louis, Missouri telling me he can refinance my properties. I inquired with another agent and he revealed that this particular guy has taken one of his listing and listed it as his own, basically stole a listing. So when you say public records I wonder by that do you mean county assessors office or county hall of records..?

@Dan thank you sir. I appreciate every bit of assistance and every contact I come across!