All Forum Posts by: Brandon Stevens

Congrats on the deal Jim, 130k 4 plex in lexington...cringe. The numbers look fine to me, its the area I'b be a little concerned about. I'd be interested to know what it would appraise for and if you could get you down payment back out of it in a short order re-fi. Nice that he's at least done a number of the big capex items.  

Id personally stay away from 30k but 60-75k should get you into some decent areas where $1300-$1500 would be expected/month. 

Welcome Glen, 

The lexington market is super tough right now you might have a little better luck if you stay in the Nicholasville area. otherwise you'd need to take a look at the different marketing strategies available to find some off market deals. There are plenty of resources on this site that should help. GL. 

Great job Mike. We do the same thing every time we talk to portfolio lenders. Even in the beginning when we really had no idea what we were doing we did this and it blew bankers away. It just says your serious, you took the time to put this together they expect you'll take the same approach with their $. 

$300? I'd be concerned about the appropriate prep work being completed for that amount. Lynn is right in advising painting cabinets is not for the faint of heart. It can be done but the prep work required to do it properly is extensive. Our best bet has been buying new unfinished doors, a light sanding of the boxes, spray everything than install the doors...still not an easy job :/

Cool idea, Maybe add spot for taxes, insurance, and management totals. 

GL susan,  we've noticed a little more competition in the last couple months on the  good deals as well but there are are still some out there if your not scared of the work and from what I understand there are still quite a few foreclosures yet to hit the market. Were also hopeful to buy more in the winter months. Follow up with @sam_erickson i understand he helps other investors from CA. 

Welcome zack, id simply continue  study the market and talk to people. There are deals on every market but you need to know it so youncan recognize them when they come up. Id also start talking to local lenders as much as possible they give you a better idea of what you need for where you want to go.

correct. Mls is the same in any market. Deals there will be few and far between but weve been able to move quite a few value add properties in mke without issue. I think its a great market. 

Id simply have to disagree with that statement. Keep networking they are there.