All Forum Posts by: Chukwuemeka Ogbonna

This is great advice thank you! My job requires me to use their preferred lenders and realtors, so it will be interesting how that will work out, but I will definitely be using some direct mail I believe. I will keep the BP community updated! 

Hello BiggerPockets family! I am a new investor who just got a job promotion that is requiring me to relocate to Lawrence, Ks. My job is helping me acquire a new home by helping me with the down payment, closing cost, and taxes. I don't know how much of each they will give me yet but it will be very beneficial as my cash reserves are extremely low because of a disaster flip I am currently going through. I currently have a single family rental and I am under contract with a flip I will lose over 10k on and both deals made me realize I want to put my focus primarily on MF deals. I would plan to house hack this next MF deal.

I have access through the MLS with my realtor but there is little to no inventory in that area. What are some creative ways to finding more MF owners and seeing if they are willing to sell their home? Would asking them if they would be interested in seller financing be the best way to get them more likely to sell?

Any advice would be much appreciated! This is my first year of acquiring properties and it didn't get me anywhere that I planned and it has only made me more motivated!

Thanks in advance!

Hello BiggerPockets family! I am a new investor who just got a job promotion that is requiring me to relocate to Lawrence, Ks. My job is helping me acquire a new home by helping me with the down payment, closing cost, and taxes. I don't know how much of each they will give me yet but it will be very beneficial as my cash reserves are extremely low because of a disaster flip I am currently going through. I currently have a single family rental and I am under contract with a flip I will lose over 10k on and both deals made me realize I want to put my focus primarily on MF deals. I would plan to house hack this next MF deal.

I have access through the MLS with my realtor but there is little to no inventory in that area. What are some creative ways to finding more MF owners and seeing if they are willing to sell their home? Would asking them if they would be interested in seller financing be the best way to get them more likely to sell?

Any advice would be much appreciated! This is my first year of acquiring properties and it didn't get me anywhere that I planned and it has only made me more motivated! 

Thanks in advance!

Thank you for the reply! I have already done the cash out refi for my first long term rental. It was a BRRRR but I still have that 50k equity in it with no partner. So I'm trying to figure out a way to utilize that since it's solely in my name. With the flip we are in hopes to sell, and just split the profits after the cash out.

 Thank you!

Hello All!

I just recently took down a flip off the market, with a partner, because it attracted no buyers for about two months. I know the reasons why it hasn’t been selling so we are fixing the issues with the property and are going to refinance and put it back on the market in about a month or so. I currently reside in Kansas City and I planned on using the proceeds of the flip to do my first out of state deal in the Florida market. I am a rookie and this flip is only my second deal I’ve done, but I am eager to keep the momentum going as this was my second deal of the year.

I have about $50k in equity in a SFH long term rental, and I was wondering would that be enough for a portfolio lender to lend to me to get my next deal? If so, how do you find a portfolio lender out of state? Google hasn't been my best friend for that answer! Any advice would be much appreciated!

I would love to come, but it is not feasible for me on the weekdays because I reside in KC, but would love to stay updated in case I can make it sometime!

Hello All!

As you can see I just bought a new build, but the catch is, the house will not be finished until May 2021. I have spent basically all of this year procrastinating to break my apartment lease and pull the trigger on my first investment, now that the trigger is pulled, what should I do during these 8 months of waiting for my investment to get done being built? I have been thinking of buying some land... Any suggestions? 

@Kevin Grinstead I haven’t ! That will be in the list of books I need to get!

@Kevin Grinstead I appreciate the response! If the opportunity arises , I would 100% do a house hack. Preferably a duplex, but if not a SFH with the rent by room strategy. I want to own multiple properties within the next decade and as of right now the I think the buy and hold strategy appeals to me the most.