All Forum Posts by: Leo Hefner

As a mortgage guy and private lender, If @Luis Roel cannot 100% finance you, then you will need to do the purchase loan with seasoned money out of your or your partners pocket then find the HML to finance the rehab and be in second position. But be prepared to take share in the profits with the HML. I wish you the best of luck and success!!

Nice!!! Congratulations!! Good story with examples. Thank you!

So Bob, I did not post here to sell anyone or convince anyone to come invest with me. I am and have been successful with what I do and how I do it. I am not here to convince you that what I have is the best thing since Hamura's Saimin, I am here share a win for my team.  I posted here as a success story, since that is the topic we are in.  But to simply answer your question, I can spend $166k for $10k NOI or I can spend $166k for $30k NOI. I am specifically targeting C and D class properties because in the next recession, my renters are not loosing jobs and moving to get new ones. My renters are section 8, VA, SSI, disability or minimum wage workers. I expect in that space I will have vandalism and tenant issues. So far in the last 12 months, I have not. In fact I have only had 2 weeks vacancy across the board.

 Scam, now that is harsh words Bob! But having grown up in Hawaii myself and knowing the prices out there, I dont blame you. But the houses that I buy for $15,000 - $30,000 are worth between $25,000 and $100,000 and rent for $500 - $800/mo. Remember, you make your money on the purchase. Same here with rentals.

At the moment we are buying SFR's in the low to mid rent ranges with cap rates north of 18%. Most of the places we buy require a little bit of work but not enough to consider it a rehab. Usually ready to rent with in 7-10 days.

very nice! 

Congratulations for taking the plunge Jim! I know it is investing 101, but just remember to not be emotional about a purchase and you make your money when you buy. I have friends, investors and family in your neck of the pacific. Feel free to let me know if you need any help and Ill see what I can dig up for you. Anything from finding deals to $$.

1,000 posts! thats impressive! Great tips and well written story. Ill have to go digging into your post to read some more of them.

After several months and long nights, we have completed our SEC filings and v1.0 of the marketing material for our fund! (Big Sigh) So much still to do but relieved all the legal stuff is out of the way and we can move on the next level of raising capital.

 So how is your 2016 shaping up?