All Forum Posts by: Kody Thompson

When Brandon Turner says low or no money down that doesnt mean that he doesnt have reserves in place to hedge against downturns in the economy or times like now. I think its awesome that you want to be a real estate investor but you have to have some $ so 1 you dont get over leveraged and 2 so that you can have access to better deal opportunities

totally different from your primary residence to a rental property. 

For a rental I like to stay at 60-70% LTV meaning putting down a good amount and then doing repairs so that the ARV comes to that amount.

Another option that I would go with is to put down as little as you can on your next home and then use the money from the condo to purchase a new rental property that cashflows for you and your wife. 

If you do place that money into the new house then look at a house hack situation where you can rent out the basement or finding a home with a ADU.

If you can build your core 4 in any location you are solid. 

Contractor

Property Manager

Agent

Lender

Once you have these in place in a market that you decide on you will have a good starting point.

Try another bank and then another and another till you find one. Community banks or credit unions have been the best for my Cashout Refi's

Bigger banks want 6 months. Smaller community banks like credit unions do not have a seasoning period so that is what I have done.

I had a pretty interesting meeting with a local developer this week where they mentioned that they use private funding to complete new apartment complexes and then once the project was complete they would get FHA financing without having any leases signed.

Does anyone have any experience with these types of loans. Any insight is appreciated!

I think it would be a fantastic idea to go to a tradeschool to learn a skill that makes you money while you are investing in real estate. If you dont want to go the tradeschool route then just get your real estate license and start working your butt off.

I actively Invest in Jax however I mostly look for multi-family deals. Would be willing to JV on a flip if the numbers make sense.

Personally I would look at FSBO or team up with a local wholesaler who has a lot of off market deals coming their way

You can also set up alerts with your realtor if they are still working that will send you properties that meet your criteria so you dont spend a whole lot of time on the MLS