All Forum Posts by: Ryan Blake

@Carlos Maldonado Looks like you already have a handle on how to wholesale. What tips are you looking for? What questions do you have?

@Brian Winters

You can get into a property with much less than 20% down. Hard money lenders will typically want 15%, 10% or 0% down. Your issue is going to be more on your cash reserves. Those same HMLs will want to see $15k+ in cash reserves to close on the property and start the rehab process. @Tamara Deering is right. If the sellers are wanting cash only offers,it is probably because the home wouldn't qualify for conventional financing in its current state for one reason or another. You best bet with the finances available will be to try and get an 203k FHA loan that only requires 3.5% down and will roll in the rehab costs. You just need to find a property that will qualify and a seller willing to wait. It can be common for this type of loan to take more than 30 days to close.

100% Financing for your Purchase and Rehab!

Why? Because it keeps more money in your pocket allowing you to do more deals in the same amount of time.

See what makes us different from the others guys. Check out our 1-minute video!

-No Doc Loan

-Close in 3 - 5 business days

-Low out of pocket

-No prepayment penalty / Back-end fees

-Quick release of draw funds

-New Investors Welcome

REQUIREMENTS

-650+ Credit Score

-$15k Cash on Hand

Where We Lend:

• Dallas
• Fort Worth
• Arlington
• Plano
• Frisco
• Weatherford
• Greenville
• Denton
• Cleburne

Want to know more ? Contact me!

Ryan Blake, Longhorn Investments

P: 714.504.3409

E: [email protected]

Check out our website to get pre-qualified today!

@Mike Khalil Amazing use of the BRRRR technique! That is what I personally utilize. It provides so much buying power and is the best way to ramp up your unit count.

@Alex S. One way to get around the 20% down is to build the equity in the property. If you use the BRRRR method you use short term financing to buy the property, fix it up, rent it out, then refinance it. Find a hard money lender or private lender willing to go 100% on the purchase and repairs and you will have very little out of pocket. Then run your rehab quick, refinance out with a rate and term refi within 2 months and get into a long term 30 year note. Your only cash out of pocket would be the closing costs on the loan and title and then your holding costs. It will leave you with 10% or less in the property but you will have 25% or more equity in the home.

100% Financing for your Purchase and Rehab!

Why? Because it keeps more money in your pocket allowing you to do more deals in the same amount of time.

See what makes us different from the others guys. Check out our 1-minute video!

-No Doc Loan

-Close in 3 - 5 business days

-Low out of pocket

-No prepayment penalty / Back-end fees

-Quick release of draw funds

-New Investors Welcome

REQUIREMENTS

-650+ Credit Score

-$15k Cash on Hand

Where We Lend:

• Dallas
• Fort Worth
• Arlington
• Plano
• Frisco
• Weatherford
• Greenville
• Denton
• Cleburne

Want to know more ? Contact me!

Ryan Blake, Longhorn Investments

P: 714.504.3409

E: [email protected]

Check out our website to get pre-qualified today!

@Levi Lewis I suggest Decision Financial Concierge Tax Services - Monika Heaton. They are in Colleyville. 

@Alan Zee You should probably collect 1 month or 1/2 month rent for security deposit. I am guessing that some C class places will require less because it is a burden for the renter to come up with a first, last and security.

@Andrew Postell Do you have anything that would be able to work for @Danny Luu? I had not heard of this limitation before.

@Wesley Nurney They are a nationwide wholesaler. Offer pretty standard mark ups in the DFW market and push you towards their 212 lending partner. I haven't heard anything negative about the wholesaler but have heard of people struggling to get draw funds from their hml side. They require lien waivers from all contractors and I have heard of them requesting receipts and invoices before releasing funds. This is not common practice and can be cumbersome.