All Forum Posts by: David J.

Want to buy and hold just to be clear. Wholesalers please contact me

Looking for great deals in Antioch or Pittsburg

Austin Fruechting that amazes me. It almost seems unreal that someone could have 58 financed properties. Wow! Awesome! I sure hope I can figure that out. I will look for local banks and see if I can meet someone working as a loan officer there. Mostly we only have big banks like chase, BOA etc. Do those local banks who don't require reserve funds have good rates?

Thanks Jason I have been working with one lender who has become a trusted friend. He's working magic for me all the time. I have some moves left, but he has already warned me that after these moves the next ones will be difficult or not feasible. I am going to refi 3 (leaving 30% in each) and pull out $210K which I want to reinvest in 3 or more (California properties) but he's already saying the most he can do is 2 because the reserve requirements get "insane" after that. Looks like after the next few deals I am going to have to get very creative. I am just not sure how it will work or what to do.

That's what I am hoping for Matt. To be sent in the right direction. I have lots of potential I think but I need to get past this rut. Hard money is not good for buy and hold if they have short payback terms and high rates. There must be some trick that I haven't yet figured out.

If I cash out to buy another "all cash" property my cash is tied up. If I later refinance the all cash property now I am adding another financed property subject to high reserve fund requirements and DTI limits etc The system is set up to make it really hard to get past 7 and near impossible to get past 10. Yet people are on the pod cast like "yeah I buy 10 a year and I just financed my 45th" like, what?? How? ?????? All the videos and posts are motivation. I don't need motivation (I have lots of it). What I need to know is how on earth these people are actually making this happen! Thank you

That's what I am saying. I have tried my best to figure this out. I have a great job with great income. I have multiple properties each with lots of equity but this train seems out of steam. How can I possibly keep it rolling past the 7th property if I am going to need loads and loads of reserve funds to get to 8? The math just doesn't work So confused

Can someone explain how to keep buying property? I have read all about the brrrr strategy etc. but real life doesn't seem like it will pan out I have 5 financed properties now. Planning to refinance 3 and buy more but I am finding that property 6 and 7 will have much higher reserve requirements and 8,9 &10 get insane. 10+ can't even be financed I think I can pull off 6 and 7 but how on earth can I ever get 8 much less 8+?!? Thank you

Anyone have any recommendations?

I meant to also ask, if anyone knows if they are a rip off or not?