All Forum Posts by: Lance Castillo

@Ryan Mainwaring @Daniel Brandt send me a PM with your emails and I'll add you to the Mastermind.

@Zach Cobb @Melody Murphy Rauber @Kristina Murray what are your relative experience levels with real estate? Have you done any deals?

Glad to see I'm getting lots of interest for this. @Ameera Aladimi Send me a PM with your gmail so I can forward you the invite.

@Timothy Boyd That's great to hear. Private message me your email and I'll make sure you know about the first meeting!

Hello Fellow Investors,

I am creating a mastermind/monthly virtual meeting for investors to discuss where they are with their real estate goals and to brainstorm or discuss ideas for how to further the completion of some of these goals. The point of the group is to speak to like-minded individuals on a regular basis to keep ourselves accountable and on track with our real estate goals. I am hoping to gather investors who are at roughly the same level of investing as me so the only requirement is that you have completed at least one deal and own at least one rental. Initially, this may start out as a small group but I'm hoping to grow it over time. Comment below with a birds-eye view of your level in real estate investing if you are interested. Thanks!

P.S. You do not have to live in Cincinnati or even Ohio to join this mastermind. Just be interested in investing.

Hi. I'm an investor looking for a group that I can meet with virtually on a somewhat regular basis to talk real estate. Does anybody know of a virtual meetup happening for investors interested in the Cincinnati area? If there isn't one, maybe I'll create one. Let me know if you're interested!

@Will Fraser how much of a difference does it make if you are an out of state investor vs living in the state as to your success in obtaining a conventional loan? That's my current plan but I'm seeing some issues with obtaining a loan with such a fast appreciation timeline. Basically, I bought for $62k in March and put in a bunch of rehab that brought the ARV up to $108k (as of the last bank initiated appraisal I got at the end of April). I successfully placed renter into the property with the help of a property manager at a monthly rate of $1050, May 15th move-in. From what the last bank told me (First Liberty), their investors will need some time to accept that new ARV value to lend on it. They told me it could be up to a year but I've heard of banks that will lend on the new ARV after 6 months. So now I am just playing the waiting game, but I would love to refi as soon as humanly possible of course since I purchased the home with hard money.

@Meredith Burt because I read an article on Bigger Pockets recently that said it may be easier to get a loan through them in the current environment. Usually, they are smaller local lenders and since they keep the loans on their books, they aren't beholden to all of the Freddie Mac/Sallie Mae loan requirements. At least that's my understanding.

I currently have a newly rehabbed property that I just placed a tenant in. I'm looking for a balance sheet lender in or around the Oklahoma City area to refinance with. By balance sheet or portfolio lender, I mean a lender who keeps mortgages on their balance sheet locally instead of selling it to a third party. Does anybody have any recommendations? Thanks!!!

Hey @Mike Price, do you lend in Oklahoma? I've got a BRRRR deal that's ready for the refinance step.