All Forum Posts by: Leonard M Kleuser

Im in talks with a guy about buying his land in Stonewall and would appreciate what my next step should be in getting an idea what its worth. Thanks.

Hey @Stephen Mahler are you still loving TenantCloud? Im trying to find a good PM site. 

My personal home is worth 90k and my partners home is worth 50k. Shouldnt we HELOC our homes to buy a BRRRR instead of a hard money lender? If I buy the BRRRR correctly (<70% ARV-repairs) wont I save a lot of money using a HELOC instead of HML and the interest they will charge? TY

I bought it from my mom who owned it outright. So its not a traditional owner financed deal. I signed a promissory note and gave that to her and she gave me the title. 

Investment Info:

Single-family residence buy & hold investment in Woodward.

Purchase price: $35,000
Cash invested: $600

848 sq ft, 2 bed 1 bath. In pretty good shape in a decent part of town.

What made you interested in investing in this type of deal?

Cash flow!

How did you find this deal and how did you negotiate it?

It was my moms rental and she was sick of dealing with bad tenants and sold it cheap.

How did you finance this deal?

Owner financed.

Lessons learned? Challenges?

Thankfully things went smooth and my tenant seems like a good guy.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

No.