All Forum Posts by: Rachel Murphy

 I'm wanting to do it legal and by the book. I just don't know how it is done. The money would actually be from my father in law. My thought was to have him send it to the title company and then we write up an agreement for loan payoff between us.

So I have someone willing to give me private money to fund real estate deals. What is the best way to handle the money? Do they give me the money to put into my account and let it season for a few months? Or do they pay the title company directly? Or is there another good way to do this that I'm not thinking of?

I have a fifteen year old in a similar situation.  Right now he works a lot pressure washing and doing landscaping. When he turns sixteen he is going to go to trade school to become and electrician. That will give him w2 job and help him in construction. 

We pulled him out of school to homeschool him this year so we can tailor his education to his interests. We have a podcast that he co-hosts on and he hikes the AT. So he is earning high school credit for those. 

 If your parents have good credit, they can add you as an authorized user on their credit card. You don't even have to use the card but it will reflect on your credit score. 

At sixteen you can volunteer at Habitat for Humanity, a great way to learn lots of construction knowledge and get some contacts. Take advantage of all the great podcasts and read books.

 Awesome! What realtor and property management company do you use?

 How's it going for you guys in the Mobile market. We live about an hour and a half away in Milton, Florida. Our housing over here on the other side of the line has gotten crazy. Thinking about investing over in Mobile. Would love to chat with either of you.

 Thanks! I'll check those out!

 I meant drive around and then look up the lot on the property appraiser's website for the owner's address. Sorry I should have explained that better. We do have a local realtor who we love, just trying to figure out how to find stuff that's not currently listed.

Thanks for the template!

My family and I have hand built one of our own houses and several other structures. We are wanting to build post and beam (similar to timber frame) houses that we can use as STR. Our area is growing like crazy (Milton/Pace, Florida) and there are very few hotels in our town and they aren't that great, and only a couple of Airbnbs.

So the thought is we can build one house, refinance it, and then use the money to build the next one.

Questions:

What would be the best way to buy lots? We would like to build near our house just to make it easier to work on. Should we just drive around, write down the vacant lot addresses and send the owners letters? Is there a more automated, less time-consuming way to do this? Do any of you have any template letters that we could send to owners?

Thanks so much for your help!

You are doing a great job. Everything is figureoutable!

I think you've already made your decision, but just to give you my experience from having one on a house we built. If you are on a well, little pieces of sediment can get in the line and mess up a tankless.  The great thing about the tankless was that we didn't run out of hot water. Since you are paying the water bill, you might not want everyone taking long showers though.