All Forum Posts by: Louis Porter Jr.

This one is pretty simple: I want to buy a hotel to turn it into a resort, and I am wondering if anyone has done this? This is something I am planning WAY in the future (may 7 more more years) but I do want to achieve this. I know this will be a expensive venture (at least least 5 million dollars) but I wanted to get some of the basic ideas and information covered. Any help would be appreciated and thanks!

Great work! Congratulations! 

Congratulations on getting started. Just keep focused and stick to a reasonable plan and you should be happy with your results. 

Hello Samuel,

Welcome to BiggerPockets. I have bought two pieces of real estate in Tallahassee and I must say you can get a FAIR amount of properties for under $100K. The two I brought were for $72K and $70K and there are a few that I want to get for less than that.  But don't get a loan to get your downpayment. Either you should have the money ready OR don't buy it. All it takes is a sewer issue or a roof problem to make it REALLY tight for you as an investor. Save the down payment any way you can. Hope this helps! 

I did it in less than a month of getting the property in Tallahassee, FL on a SFH. You can do it just takes sometime to find the right financial partner for the refi.

I must also agree, Willie Davis has been my agent in Tallahassee and and amazing guy. I can not recommend him enough.  

I just bought my first 3/1 SFH in Tallahassee in August. I did a BRRRR and now I am in the process of buying my next 3/1 SFH to BRRRR. I got a renter in the 1st one in less than 6 weeks on the market. Both of my SFH are near FSU at TCC. I would LOVE to find a multi-family to purchase there. FYI, I live in South Florida (Broward Country). I love Tallahassee real estate prices and I want to get a LOT MORE rental properties there.

I just heard about this investor cash flow loan today, and I was wondering if anyone else had head about this or used this type of loan? Was it worth it? What issues did you happen to have? Thanks!

Bobby Valcin No matter what happened, congratulations on the hard work!

Marc Winter That looks like the most logical move but I need to learn more about this.

Kerry Baird I need to find a bank that will let me do 38 loans with. How has it been it with reaching out for portfolio products?

Josh Teunissen How would I go about doing that?