All Forum Posts by: Kyle Penland
Kyle Penland has started 26 posts and replied 317 times.
Post: Purchasing 4 low income rental properties analysis and discussion

- Investor
- Dyersburg, TN
- Posts 320
- Votes 100
@Brice Hall several ways. One he is my pm so he takes 10% of rent off the top. Second, he is also my realtor and gets a commission when I purchase a property, third he is a turnkey pm. My definition of turnkey is that he has his own maintenance crew and clean out crew. He does everything from cleaning out my units to maintenance on the and does a great job of keeping them in good shape. When a leaky faucet, he sends out his maintenance guy to fix etc... It's truely passive income at its best! Hopefully you have the same experience with your pm that I do. Let me know if you have any other questions.
Post: Private money presentations

- Investor
- Dyersburg, TN
- Posts 320
- Votes 100
Post: Purchasing 4 low income rental properties analysis and discussion

- Investor
- Dyersburg, TN
- Posts 320
- Votes 100
Post: Help with 6 unit building

- Investor
- Dyersburg, TN
- Posts 320
- Votes 100
I don't know of anyone that I can partner with currently...Do local banks negotiate on down payments? If I could get it in the 15% down range versus 25% then I'd be golden. If I have to, I can double down possibly and borrow on short term from family and pay them back via unsecured loan from lending club or something but don't want to go that route if I don't have to.
Post: New to business

- Investor
- Dyersburg, TN
- Posts 320
- Votes 100
When i bought my first property, I said WOW you want 3k to rehab this to rent ready? I thought I could do it myself...I'm a handy guy...I painted the entire inside of the house in 2 a half days, finished it up in a weeks time...During that time, I lost a sale that would have made me lots of money...I learned my lesson the hard way. Good luck to you in what you decide.
Post: Help with 6 unit building

- Investor
- Dyersburg, TN
- Posts 320
- Votes 100
I've found a 6 unit apt building for sell, asking is 159k, gross rent is 2610...Water and trash run 100 bucks a month combined on average...Some more some less. The agent that brought me the deal is confident I can get it for 150k...maybe less. My lender wants 25% down. I don't have 25%, seller isn't willing to finance. My questions...Can i get this with LESS than 25% down... For example, 10% down or 15% down? Also how long can the mortgage go...My go to lender says max he can do is 15 years...Anyone have any ideas? There is some room to improve rents also, so there is some meat left on the bone.
Post: how to wholesale apartments.

- Investor
- Dyersburg, TN
- Posts 320
- Votes 100
What we are saying is that it is HIGHLY unlikely that you will be successful wholesaling Apts. You should stick with SFH, duplexes etc...If you go for it, best of luck.
Post: Buying property with a tenant

- Investor
- Dyersburg, TN
- Posts 320
- Votes 100
Post: how to wholesale apartments.

- Investor
- Dyersburg, TN
- Posts 320
- Votes 100
Post: !!!FLUSHED!!!

- Investor
- Dyersburg, TN
- Posts 320
- Votes 100