All Forum Posts by: Stephen Keighery

Hey @Devin DeNoux, yeah I do go to the Northshore REIA whenever I can. That is a great meet up. I will make sure we catch up when they can have in person meetings again.

If you owner finance them you can section 8 them. I assuming you will take title which will they are yours so you are free to do what you want with them. Unless you are doing bond for deed in which case you won't be the owner on time until your last payment. Even if that was the case you should still be able to section 8 them.

Will it be in New Orleans in 2021?

Hey Devin, good work getting seller financing on those properties. The issue with getting a loan towards the rehab is that it will be in second position as the seller will be in first. It doesn't make it impossible but will rule out a lot of private money funds. Getting a partner who can fund the rehab could be another option. How long is the balloon? You need to be careful with that as who knows what financing will be like when it comes due (Imagine you have it come due back in March when Covid first hit). If you can negotiate no balloon that would be ideal. I know a lot of the seller financing experts say that "Balloons are for clowns". I am sure you can work around it if the deal is good enough though. 

Hey Christian, I like your plan. BRRRR is a great model. Metarie is a good market, it's pretty hot right now so finding a deal isn't easy but is definetly possible. I moved to New Orleans 2 years ago from Australia and invest and wholesale in the area full time. I am not a mentor and you will find better people than me to learn from but would be happy to catch up for a coffee and talk shop of you like.

Hey Taneisha, I am an investor/wholesaler in greater New Orleans. PM your email and I will send you one of the training programs I first used when I started. My website generates leads all over Louisiana so once you build up your business you could help me work some in your market. 

@Ryan Hazelwood I am about to turn 40 and own 6 single family rentals in Australia and a 3-plex in NOLA. I started about 5 years. Started by pulling money from my business to fund 20% down payments and bank financed the rest.

P.S. I never actually had a full time W2 job. I had a few part times one while I was at school and University but when I graduated jumped straight into starting my own business.

I did a semi-retirement at 38. Partially sold out of the business I built and took a year off travelling. I am back building a new business now. My old company is set to IPO in the next 12 to 18 months at which point I wouldn't have to keep working. But of course I will, building businesses and growth is an addiction.

Attend the real estate meet ups and join the Facebook groups. If it is turnkey newly rehabbed houses you are probably looking for more hands off investors and might be best listing them with a realtor.