All Forum Posts by: Troy Stoehr

Looking for a new property manager in the St. George, UT area.  Any recommendations?

Looking for a good property manager in the Richland/Kennewick/Pasco - Tri-Cities Washington area.  Any recommendations?

Welcome to BP Jake and congrats on the fourplex!  Great way to start!

Clay Winder or anyone on his team (the red sign group).  Clay is a great guy to work with and has been investing for a while.

I'm not sure about putting in a ton of offers but you could certainly talk to him about it.

@Larry Fried Would you be willing to share the list of turnkeys that was provided to you?  Thanks!

I think what @Bill Coleman said is absolutely right. Find a/some "seasoned" agent(s) who has a lot of connections in the RE investment world and they'll be able to help you out. I'm up front with them and tell them that I'm working with multiple agents who are contacting me if they are finding deals and most of them are ok with that. I also tell them that I'm especially interested in deals that aren't on the MLS... yet....

Also, some wholesalers (at least in my area) come across deals that will be seller financed, I've found a few deals this way.

Ultimately I think the best way is to start networking and entrenching yourself into your local RE investment "world." I haven't set up a deal through this method yet but there are a few people that I now know who are looking to exit the landlord business in a few years who will potentially be wanting to sell their properties but still maintain some sort of cash flow. I'd get to know these people on a personal level so that you are aware of what they are planning to do (REIA groups, landlord clubs, etc.). Perhaps they will come to you first when they are ready to sell and I think it's easier to enter into a transaction with people who you already know and trust.

I didn't run the numbers myself but it looks like your payment on the owner financing options are assuming that you'll pay off the house in 10 years right? Would the seller be fine with you amortizing the loan for 30 years so that you have that lower payment of the conventional loan and then setting up a balloon in 5 or 10 years where you'd either have to refinance or just pay off the remainder of the loan out of pocket?

Looks like a great deal from my point of view as well. Especially with no apparent repairs. Sounds like a great find.

Awesome - thank you all for your input on this. Bigger Pockets is so awesome. Also, @Darrin CareyI appreciate your input. I haven't really thought about commercial lending at this point (yes I'm a "noob") so thanks for bringing that up. Now I just need to go for it.

Thanks!

Good point @Bill Gulley

:)

So my thought would be to try and find a property where I could get it amortized over 20-30 years with a balloon in 5-10 years. At the time of the balloon I could either pay the property off or else refinance into a conventional loan or else sell the property and exchange into another.

Is that an unrealistic plan? I'm just starting to hit my "max" on conventional loans (currently I have 4) and I'm really wondering what my best route would be to expand on buy and holds without having to pay cash for everything.