All Forum Posts by: Josh Caldwell

The math works, you can just reach out to a hard money lender, with the assumption that you will refi and pay them off within a year. 

I am not exactly in your part of TX but SFR is pretty simple. Invest for cash flow and you will be Ok, The trick if there is one, is to find market rent and make sure that your rental income exceeds you mortgage and upkeep costs.

To your success

josh 

In PA an HOA has super priority lien status. That places it in front of a first mortgage. So it isnt usually wiped out by a a foreclosure

Agreed. If the guy putting the deal together isn't top notch, go find another deal. There are a LOT of inexperienced people who watched a webinar trying to syndicate big deals that they have neither the experience or the training to successfully pull off. 

Welcome to BP, I just spoke at a meet up in Ft Worth.  I am over in Easy Dallas area,, Rockwall. Let me know if you need any assistance 

The world of hard money lenders is where people like you, and most of the rest of us find funds for this sort of project. Hard money lenders look at risk differently than banks and traditional lending institutions. 

@Hemant T.  The "manager" can sign the lease documents.   A lot of owners sign " as manager" for their own LLCs, this is the same thing.  

Your seller is offering you a chance to purchase a property that you can't get bank funding for, he is assuming the risk of you defaulting. That usually costs extra.  You hint that you might be paying above market price, that isn't as relevant as you would imagine.  The cash flow and debt coverage ration are the important metrics on this deal. IF those numbers work, you will be able to refi out at a later date. 

yes, as long as the numbers work.  There are a lot of investors here and some of them are willing to buy a partial flip. The question is, is this deal profitable for the buyer. If you have a partial flip that costs more than the after repaired value, then you will have to get creative. In that case you will be selling on owner finance terms to a contractor, not to investors. So tell us more about your deal and we can go from there. 

No, your list price wont matter, only a sale would affect your appraised value. If you dont sell it then there is no sale to affect you. Did I explain that well?