All Forum Posts by: Frank Hinck

@Tallal Ibad

Find a military friendly real estate agent, perhaps they would know another family who is being transferred or needs to sell. Or contact property managers who might know tired landlords or other service members who bought houses while at that base and moved and don’t want to own it any longer.

@Drew Bursey

If you can form some rapport with the seller through door knocking or cold calling then you can figure out what they need to walk away. Perhaps if they’ll retirement age they’ll even owner finance so they can get $800/month for 15 years instead of $144,000 now.

@Sneha Patel Campanella

4 properties at $200k each, put down $50k / 25% in each. 3 turnkey single family rentals in neighborhoods, and 1 short term rental in a Beach area you want to vacation in so you can use for a month or a few weeks per year. I’d keep them all in the same town/area so 1 property manager can handle all.

@Chukwudi Motanya

Portfolio loan or commercial loan should allow you to combine all 8 and cash-out refi.

@Aaron Macken

Renometer and local property managers can tell you what they think it would rent for high/low.

@Malik Warren

Scotty Oots has both on his Facebook group

@Nhan N.

Hard money for a flip works but no HML will lend on owner occupied that makes the loan a mortgage under Dodd-Frank. The HML will want you to have likely 20% in for the purchase and/or total 30% in for purchase&rehab. You could use private money for the 20% down but I'm talking personal friend / grandma money not another formal private loan. Perhaps best on the first few to find an experienced flipper, you bring the deal and project manage / they're the money and you split 50/50. Bank ALL your profits and after the 3-4-5th you can fully fund your own deal

@Lamar Washington

Sounds like a Sub2 not a wholesale. Lookup Pace Morby Facebook group and find a Squad member to team up with.

@Dalton Dykes

I’d keep the FT job for 6 months while starting as an Agent to provide yourself air cover while starting out, getting your name out there, letting everyone you know what you’re doing, figure out your farm area.

@Justin Campbell

Get the owner to delay payment until after the build so you can count the property as your equity. Need to get 3 contractors to bid on the project (however without Plans that may be tough), be aware lumber prices are 170% YoY. That lot price does seem high... Zillow filter Sold land for the last year and see what the comps are