All Forum Posts by: Rogelio Rosales

I want to start online marketing Facebook and Google ads Words. I want to get a good idea of what to set my budget to get enough leads to fill the pipeline. My farm area is in Lake County Illinois. I'm wondering if there are investors that do online marketing in Lake County and are whiling to discus their experience? Cost per Click? Website conversion rates? Number of leads till close? Thank you in advance. Any information on this topic would be great and greatly appreciated.

Don't use 100% of it. Use it for a down payment instead. Try to get a construction loan, private loan, or a hard money loan. Then depending on your exit strategy you can either refinance or sell the home and get your capital back. This strategy allows you to be flexible to keep buying properties as the opportunities present themselves.

It all depends on how much time you have to close and what are the terms are . You can use private money, hard money, FHA 203K, construction loan,HELOC, and lastly your own capital. Use hard money and your own capital as a very last resort. Oh almost forgot you can always have the seller carry the finance. I'm not sure if you can still do subject-to deals. If the seller owns the property free and clear owner finance will be easier.

You could try Dallas invest. I haven't done business with them but they are a part of Memphis Invest with Cris Clothier. http://www.memphisinvest.com/turnkey/dallas-texas

@Zane Bradshaw Private Lenders are people that want to invest in your company for a return. They could consist of friends and family. To answer your question you don't need prove of income but rather prove that you know what you are doing and that you are securing their investment through the property. In case that you don't pay they will have the ability to foreclose on you can take the property. 

For your work history, it's normally 2yr but it doesn't hurt to try for one year. Don't use big banks try credit unions or small banks. Hard money lenders also finance 30yr but use as a last resort.

FHA is a way to qualify with only a 3.5% down payment but you have to live in the property for a year. FHA 203k is almost the same but you can include the rehab cost in the loan. You just have to use their verified contractors to do the rehab. Don't forget since you are only putting down 3.5% you will have to pay mortgage insurance. I don't know if you have FHA in South Africa.

You could get a private lender to fund the purchase and rehab with a good return on investment. Rent the other unite pay the lender and at the same time put down your first year of taxable income. After the year is up then refinance your private lender out. Find another property do a FHA 203k loan and hack the property. That way you leave your private lender open to buy yet another property. In theory you could get 3 properties by your 2nd of investing.

If you utilize a FHA 203k loan it will pay for the rehab and purchase of the property. You will have to use certified and approved contractors by them.

Hey Patrick,

yes definitely! Please connect me with Liz. what I have learned is that having like-minded people in your team is a must especially a realtor that has investing experience. We should all meetup and discuss each others goals. I'm sure we could find a way to help each other one way or another.

Hello BP Community,

After learning about the BRRRR Strategy and seeing how I could use it in my market I'm ready to take action and start buying. Although I do marketing myself I don't want to miss an opportunity even if I'm not the one who came across the deal. That being said I'm looking to connect with local wholesalers in the Round Lake IL and its surround towns. I'm looking for 3bedroom 1 1.5 Bath 1200sq $3k property tax. I'm looking for areas that I can get $1300 in rent in B&C neighborhoods. I want to stay at $50k-$60K in the purchase price. Let's connect! together we all grow.

Hello, 

I'm currently looking to build my buyer list in the Dupage,IL area. Investors that are interested please leave me your email, phone number, property criteria, and what price range you want to stay within. Thank you