All Forum Posts by: Timothy Howell

@David Acosta Hi David, did you end up investing into Lexington KY? I'm familiar with the area and have decided to niche in on the demand for short term rentals in Lex. Little investment into small SFH with a great return! I would love to hear your experience if you did invest in the market! All the best Tim.

@Scott Morongell Great insight Scott TY I'm not familiar with syndicating real estate, all tho there are plenty of syndications in the racehorse world, so I'm familiar with the concept lol. How are syndications typically structured and obviously I would have to build the network to invest into a PPM correct? Owner financing could be my winning ticket here, Is it a common scenario for the owner to leave 25% in and finance 75% with a lender? 

@Account Closed Hi Erik, I just ran a rough estimate of numbers for the idea of this property. To be honest the 11 unit is over my head for my first deal. But I have come across an awesome fourplex in an upscale neighborhood in Lexington KY (Booming Spot) so I guess the same learning applies! It does need a little work but I would plan to live in one and possible VRBO the other units. Short term housing is in high demand in Lexington as I have been on the other side of the fence many of times : ) I am currently in NC actively looking and can pass anything on if need. Tim 

@Greg Dickerson Thanks Greg, two great options, probably my best place to start. What would underwriting want to see on my behalf if I was to combine private money with bank financing? 

@Jason D. Hi Jason, yes I'm looking for creative ways to finance with as little out of pocket as possible and plan to live in one of the units. I've heard there are some great ways to piece this puzzle together! 

What are some of the best ways to finance an 11 unit multi family home that cash flows positively and is 100% occupied using OPM (other peoples money : ) ???

@Brent Coombs

Interesting Brent, actually the property I have in mind asking price is around 85% ARV of the comps. Also, the property qualifies for the 203k program adding a bathroom would give it a great boost in value.

I am Genuinely looking for a house to live but I need some skin in the game to start RE investing,

If its a deal done right, Personally I think this is a tactical entry.

When purchasing a property with an FHA loan, How long do you have to owner occupy the property before you are able to sell or refinance?

I have an excellent flip prospect in the Country Club neighborhood of Shelby, NC under contract looking for a cash buyer to complete a dual closing Jan 30. It's a sound brick house, cosmetics-only repair needed 4/2.5, built in 1959. Priced at $120k, tax value $165k, comps value $170-180k. Reasonable offers accepted.

I have an excellent flip prospect in the Country Club neighborhood of Shelby, NC under contract looking for a cash buyer to complete a dual closing Jan 30.  It's a sound brick house, cosmetics-only repair needed 4/2.5, built in 1959.  Priced at $120k, tax value $165k, comps value $170-180k. Reasonable offers accepted.