All Forum Posts by: Tucker Cummings

@Bryce DeCora lol while I consider myself an expert in excel, I’d be looking for a little more plug and play

I think a lot of it will depend on numbers like what are your proceeds from your home sales, what kind of property could you pick up with that amount, what kind of results do you want from your investment property, etc.

Just thinking about my personal situation, if I sold my house, I'd use the proceeds to buy 3 SFH and rent them out. I'd net around $1200-$1500 month in cash flow after expenses in my area. So building up to a new down payment for my primary wouldn't take too long.

@Dorian Young look into subscribing to PropStream. It has all the MLS data you could ever need and more. It's $99/month but is definitely worth it. Saves incredible time pulling comps. You can also find owner information (name, email, phone loan origination, etc.) Create marketing lists and more. I love it, it's a staple in my daily activities.

@Ash Fields & @Tiffany Youngren thank you both! I'll definitely look into both of those :)

Hi @William DeLuca yes you absolutely can. I'm closing this week on a house being purchased with a HELOC. However, I would not recommend pulling a HELOC to serve as your down payment for a house. Reason being that you're 100% fully leveraged on a house and it will seriously eat at cash flow or make you negative.

I recommend using the HELOC as a hard money loan to yourself and implement a BRRRR strategy or something that would allow you to recoup your investment quickly. That way when you take out he HELOC, you're only leveraged for a short time. Then when you're not using the HELOC, you have strong cash flow on the asset.

I’m getting kicked off with starting to find my own deals with direct to seller marketing. I’m looking for software to serve as my CRM and something for an email responder.

CRMs I’ve heard of are investorfuse and podio. I’m open to others and would welcome recommendations.

Email responders I’ve seen are Aweber, mailchimp, constant contact. Anybody use these or have other recommendations?

Thank you!

Can you do rent to own? Collect a down payment of 10k, collect rent for $700, and have an option that they can purchase at 75k in the next 2 years (or whatever you think it could appreciate to in 2 years). You get your cash flow, you hold it long enough that you can do the 1031, and you sell it to collect your profit a little later down the line.

Another tip, don't be afraid to submit multiple offers. Keep in mind that deals are on price and terms. Maybe one deal you give asking price, but its all on whatever terms you want (seller finance, rent to own, something else). Maybe another offer you give a lower price, but whatever terms they want - might be able to find out their needs/terms through talking with their agent. It's a competitive market yes, but you never know, you might be the only one bidding.

@Tom Gimer

Thanks for the breakdown. It sounds like this is something you have a lot of experience with. Where did you learn to do this? And is all this kind of information available at my county courthouse or would I have to go somewhere else?

@Pat L.

So are you saying you paid for a service to run title for you?

Once you get clear title, do you just forward documentation to your closing attorney? Or are there more steps involved?