All Forum Posts by: Martin Lindsay

@Lindsey Vargas Sounds like a very stubborn seller and the realtors aren't helping the situation lol. As stated above, the realtors work for YOU and your offer is your choice and for them to submit. Worst case scenario the seller says no and their property sits on the market for another 200 days so not exactly your loss!

@Kevin Nichols Sounds like a dream to me! Lol. Personally that sounds like a sound situation but if your goals include expanding your portfolio, the power of leverage is going to be your best friend with all that equity. Instead of a cash out, why not consider a HELOC on them? That way you don't lose equity but instead have it all readily available to use

Agree with what @Cassi Justiz said. Everything is going to be a challenge when getting started so just be prepared for that so that you don't get discouraged.

Personally I think between your two ideas a flip would be the best thing to keep your eyes out for IF the right deal comes along. If you find a property and run the numbers that it can be very lucrative, its possible you could get a private or hard money lender to fund the entire project.

I'd partner with him in a heartbeat with that type of experience and guidance. Especially him being your dad he's going to want to teach you all he knows, and there's no better mentor than someone who genuinely wants to teach. 

Goal being you can learn while you make some money and then really dive in yourself! Good luck!

@Shaun Weekes I've been doing some research on the Homestyle loan, assuming that's what you're referring to. Looks like an awesome option that is not very well known about. Thank you so much for bringing it to my attention, I will absolutely being adding it to my arsenal!

@Shaun Weekes I have not! What are some highlight advantages it could offer me for my scenario?

I'm looking to pursue a flip using a HML, however the property has a tenant that is in a lease until the end of July. I understand that this may be an issue for some HM lenders so I'm wondering what are my best options? Thanks BP!

Thats a great mindset to look at not pulling all of your money back out! It's still there, not in immediately accessible cash, but in growing equity. Thats fantastic and thanks for elaborating. I've been analyzing a few BRRR potential properties in my market. What do you look for as early "green lights" and "red flags" when analyzing properties for the BRRR strategy? And is there anything you would have done different on this deal to maximize your returns/cash flow?

@Bradley LaBrie Gotcha thanks for the clarity that’s what I was assuming. Good insight!

@Bradley LaBrie Thanks for the response Bradley! Sounds like a good way to look at it as an initial approach. And excuse my ignorance if I haven't had enough coffee this morning, but can you elaborate on what you mean by the cost of refinancing? Are you simply talking about the closing costs on a refi? Or are you talking about how much capital I may lose if the %75 loan from the lender doesn't cover all I put in?