All Forum Posts by: Reid Sullivan

@Andrew Postell Thank you so much for taking the time to lay this out - I work with a lot of investors that try to utilize lines of credit and this has always been a challenging topic to educate on. 

This will absolutely be a commercial loan - In my experience, I have seen commercial loans as low as 5.5%. Can anyone recommend/verify a lender that can offer low rate commercial loans? 

Your margins might not be quite as strong, but finding a reputable wholesaler can offer you many opportunities with zero cost of marketing. There are many seasoned investors that use wholesalers as their primary source of deals. 

There is no HELOC option if you do not occupy the home prior. Look into a line of credit for distressed properties and then refinance, or if you are open to higher rates and can get the properties to rent ready quickly, get a hard money loan.

I would highly recommend researching the auctioneer individually. They are not all alike when it comes to proof of funds and their processes.

The damage incurred in this situation should not cost a lot to fix. However, I would take some legal action with these tenants to help avoid someone like this causing more disruption in life down the road - This is why legal records are extremely beneficial in helping screen potential tenants. 

I would take a vacant unit over a disruptive tenant any day. 

@Eric Ippolito you seem to be focusing a lot of your energy on large cities. There are far more opportunities for multifamily cash flowing investments in smaller and less "sexy" parts of the country.

Exciting stuff Juan! Thanks for sharing. 

Matt, Bias opinion here as I work with this company down in Austin, TX. We do move properties very quickly, typically within 24-48 hours. We are working with investors that are in positions to move forward quickly on investment decisions. The biggest thing I always recommend to people looking to do business with us is to ask about our repeat investors and see if you can get references. 37% of our Austin, TX sales in 2018 were to investors that have bought 3 or more properties. We have many investors that buy houses from us on a monthly bases and greatly benefit from our services. 

Just one man's opinion. References and success stories are key.

Are you open to a duplex? When it comes to house hacking, I have seen the most success in either duplex or tri-plex if you are able to find one at a below-market price that already has some equity in it. If you are open to going a little farther north (Leander area) you might have more opportunity for some multi-unit options.