All Forum Posts by: Tyler Dunlap

Name and Shame!

I used Adept Management from Ogden.  It was generally pretty good.  Good tenants were placed, almost no vacancies, minimal repairs.  Let me know if you want more details.  

I am looking to add another property (or two) to my portfolio.  I have one rental condo that I am very proud of.  I have about 60k worth of equity that could potentially be tapped into.  I want to use my cash on hand to start playing the cash flow game.  What should I be looking to do with 30-50k in order to maximize my returns?  I've seen a couple of seller finance deals for 15-25k down that would bring in 300 or so a month.  Is this a good way to go? Should I be looking to scoop up some seller finance deals?  

Thoughts and advice greatly appreciated!

I need a little bit of advice on how to structure my next real estate deal. I want to buy a property worth 80k and I want to go in with an investor. I want to ask the investor for 20k, enough to cover the down payment, in exchange for 50% ownership of the property. I will be responsible for brokering the deal, managing the property, and making the monthly payments. Do you think this is a fair arrangement? Is there anything else that I should consider when pitching this deal to investors?

So I currently own one SFH which is rented. Heres my plan for the second/potential third:

I have the opportunity to buy a SFH (currently rented) for $105k that has been appraised at $120k. I want to take out a hard money loan for $105k to buy the place, and then pay a 15k lump down on the mortgage so I will have 25% equity on the house. I then intend to refinance the property into a conventional investment loan to pay back the hard money loan. Once the house has been refinanced, I want to take out a HELOC so I can put a down payment on another (third) house.

What do you think of this plan?  Good/bad?  Anything I should add/remove/consider?  

Any help is greatly appreciated!

I am looking into an investment loan from the bank. I know someone who is wanting to sell their property. It appraised at over $120k and they are willing to sell it at $105k. So my question is if the bank is going to give me a loan based on the LTV or LTC. If its LTV shouldn't my downpayment be less than 25% due to the instant equity in the purchase? Any help is appreciated!!

So my first deal is in the bag. I bought a SFH and have found a renter. This property has a net cash flow of about $300/mo. I have a comfortable cash reserve of appx 5-6 months rent.

My question now is what should I look into buying now and what strategies should I use? I have flawless credit and about $10k to invest.   Ideally I would like to buy a seller financed MFH and rent that one out fully.  Any advice about how to proceed would be excellent.  Thanks!

Hello BP, I have a question about mortgage options for a rental property. I would like to find a house for under 150k to rent but I don't know much about the mortgages that I can use. I can't rent out a house with a FHA loan, so thats out. Is conventional the only way to go? I have an excellent credit score, am I able to get a conventional mortgage for less than 20 % down? Any input is appreciated.

Yes $800 PITI. How do you find houses that cheap? Do you look for short sales and/or foreclosures? If people are willing to pay $1100 for the property you pay $400 for, why don't they just buy?

Hi all, I'm new here and new to the industry. I have been scouting out some properties in the Salt Lake City. Basically, my question is what is a good profit margin for a rental home? I have found houses that I can buy for 800/mo and rent for 1200/mo. Is this a good deal? Should I pursue this? I know about the whole 50% rule but I can't find anything that comes close to that. Any input is greatly appreciated!