All Forum Posts by: Larkin Adey

@Todd Smith

A flexible loan is worth some risk, and yes there are some down sides. When all goes right with a Heloc it just seems so easy.

@Scott V.

Enjoy your car.

Life is short, time is luck.

Real estate investments would bea good way to round out your portfolio.

This is the best place in the world to learn and network for that. Welcome.

@Bob Barrie

Sounds like things went sideways for you. Sorry for your trouble. Hopefully you are able to establish a good business relationship with a better PM in the near future.

Get some recommendations here on BP, there have to be some dialed in PMs in your area that folks here know about.

@Jarod Dudley

Terms for buy and hold, speed for fix N flips, and inhouse underwriting for commercial/MF space.

@Alex Monaco

If the foundation is good, the numbers are good, and the location is good, you are good.

I have no issues with having old homes in a portfolio. Just factor extra maintenance and CapX into your figures for a little padding.

@Tiffany Smith

Small banks in Saint Joe would most likely require you to personally guarantee the loan, even if you are buying as an LLC.

Best of luck to you, maybe find a partner who is willing to take the leap with you.

@Nathan G.

"The One Thing"

Gary Keller

@Angela Smith

A small local bank in the same town where you can buy homes for 25K and ARVs are 50K.

Someone wrote paper on all the houses in the neighborhood where he is looking - the whole town didn't pay cash.

@Johnnie Bembry

I don't like this deal. Can you just pay cash for the house? Offer him 22k cash and close it quickly. Once you have done your remodel, find a good local bank and take 75% of the homes value back out to use again.

It will cash flow with bank financing at 75% LTV.

@Jonathan Greene

This is a great post Jonathan Greene, we were in the middle of a flip in August 2019, and my tile guy was unavailable - so we contracted one of our laborers to do it, knowing full well it was risky. He promised he was "really good at laying tile"

We ended up tearing out and redoing both the bathroom tile floor, and kitchen backsplash and had to remove all the plumbing fixtures that were all ready set, because it looked like a kindergartner did the work, and the entire bathroom floor moved when you walked on it.

#lessonlearned

#dontcutcorners

#heisnotatileguy