All Forum Posts by: John Hovanec

@David Garrigan welcome to bp. There’s plenty of material here on bp and they have a great list of books you can buy also. I live in the upstate also. In piedmont. Greenville has a pretty good Creia group. Search upstate Creia. They have a website and fb page. Normally they have one main meeting and 5-6 sub meetings a month. Great place to connect with other like minded people. Good luck 

@Paul Garrigan what class of multi family are you wanting to get into? I live in piedmont sc. you can find some cheaper multis depending on what class you are wanting. I wouldn’t want to start with new construction right now anyway. Prices are too high and the good builders have plenty of work. Just my 2 cents. Good luck. 

@Kodey Hainsworth  welcome to bp. I’m also in the upstate sc. one place you can connect with real estate folks is upstate Creia. They have a meeting tonight at embassy suites in Greenville. (3rd Monday of each month )They have it once a month for the big meeting and sub meetings during the month. They are online and fb. Feel free to reach out and I’ll help anyway I can. Good luck. 

@Kirk Perecich. Even if your not able to save up the 20% you can always see if the owner wants to owner finance it to you. Most of the owners are used to receiving payments so getting payments with no phone calls is good for a lot of owners. You need to find the property and see what options fit. If it’s a good deal you can find the financing. Might not be great interest rates but it will still get u in the game. I understand you asking what if this and that. It’s always good to ask questions but best bet if there’s a law against it you shouldn’t do it. Good luck

@Achille Clendenning welcome to bp. You have to remember one of the important R in the brrrr is rent. The bank on the refi will want to see you have rented the property out. They normally ask for a copy of ur rental agreement so they know you are making money on it. Make sure you have a good cash flow after the refi is done. Don’t forget to include taxes and insurance. Good luck.

@Jihan Shareef. Search the county records for property search. Should have house and car taxes. If your county has that. Good luck.

@Victor Mays congrats on getting started. Do a search on the forums for fund and grow. That’s another company that does credit cards for you. After reading most of it , sounds like you can get plenty of credit just hard turning it into cash to pay for subs and purchasing a house . I’ve used some credit cards for some flips before that had 0% but they had sent checks for me to use. They were also in my personal name not my business. I wasn’t sure if you were doing personal cards or business cards.

Thank you so much @Ned Carey and @Andrew Kiel  this will help me feel a little more comfortable  proposing the deal to her. 

Hello BP, I am looking to buy a property from an individual and have her owner finance it to me. She is open to the possibility of it and I’m wanting to know as much about it as possible. Help me out with some of the insights that makes it more of an Incentive for the seller. Do the only claim the monthly payments as income? This will be my first owner financing deal so anything is helpful. Thanks. 

@Scott Duerk where do you invest in the upstate? I’ll have to look for you Monday night. I’m sure it will be pretty busy Monday night, last year was.