All Forum Posts by: Lee S.

@Marco G. it's on my primary but during my search I was also looking for terms on investment properties. I found multiple lenders willing to do 80% ltv, I might take advantage of that. I would prefer to keep most of the properties I buy using BRRRR strategy, heloc works great for this.

Website address is in above post.

@Jeffrey Smith @Chad C. I went through sdfcu.com.  The fees were a bit high but again I didn't care, still the cheapest money available and will more than pay for itself the first time I use it.  Probably could have closed in 3-4 weeks but was delayed due to shortage of appraisers in my area.

@Jeffrey Smith I agree, only took 1-2 hours searching.  I cared less about the interest rate, I wanted max ltv because I use it to buy/sell and rehab. I replaced a 70% ltv at 5% from Wells Fargo.  Combined with a newer more accurate appraisal I was able to unlock another 113k.

I just got a 95% ltv at 3.99%.  You do not have to only look local, i used a credit union on the other side of the country.

Nice work.  I do however think RE should be referred to in $ amount on BP rather than unit number.  You can buy 5-15 "units" for the price I have to pay for 1 in California!

@Tony Battle I'm open to cheaper options but the reality is $55 to make 50k is nothing.  I'll PM you but why not just post in the forum so other's can see?

I'm attempting the same thing, I just requested a number from here for $55  http://www.frankahearn.com/about.html

I also just got an email back from uccweb.com and they said it's $50 for a cell phone, I'll try them next.  I've got a couple of homes locally that I feel confident I can get if I can find the owners.

I'm in a small town also and I mail all the areas where I want to buy and hold then the rest to areas where I will wholetale or flip but still within reasonable driving range.   All my deals have been local so far, I think part of it is that I'm less hesitant because I know my area well.

Good luck.

@Joseph Hennis I agree but better yet, don't have any money in the property so your upside returns are infinite and your downside doesn't matter as long as the property cash flows comfortably.  I just got started this past year and I'm 2 for 2 doing this.  I've got 35% free equity in one and will have 25% free equity in the other with zero out of my pocket.  It's the only type of deal I look for now having done it a couple of times, speeds up the process significantly.  

I love the "I want to get rich quick without any work" mindset.  Good luck.  My plan is same as above, use safe leverage to acquire enough properties then flip the switch and pay them all down and be done.  I don't consider properties that I will have to rent to "low end" tenants, no thanks, rather flip those.

If an investor went full tilt for a few years it's very possible to get to 10-20k monthly cash flow.  I'm personally pushing forward as fast as I can find a DEAL, doesn't do me any good to buy something just because.