All Forum Posts by: Tyson Hosey

I've been trying to fund a small buy and hold project, with my newly formed LLC. I've had a ton of no's. Big banks won't touch it, small banks where I am won't fund a project out of state, the local banks in the investing area won't do it (I assume because I don't have the relationship with them, that I'm not able to do because I'm not in that area to meet them in person), seller isn't in a position to carry the note..

I know I'm not out of options and I haven't asked everyone and every place that I can, but I've asked a lot. In this business persistence pays off, so I'm hoping to share a success story with you soon.

@Rob Harris @Mike Sattem @Jon Klaus sounds about right. Makes sense.

I'm wondering what it would take in a less expensive market to build and hold.. So say I bought a piece of land for 8,000 in a residential neighborhood that is a little bit lower end (C/D), and paid for new construction of a very small house on that land. What would the numbers have to look like? Is building a house just too expensive to cash flow, in that type of neighborhood?

@Ned Carey that is definitely an option. I've looked at the market that I'm in and short term would be the only strategy I would feel comfortable using here. The market here is poor and declining, so hard to get any sort of appreciation, as far as I can tell from the little research I've done.

@Jeff B. Good rule that I follow quite often. I just feel stuck in analysis paralysis right now. I obviously don't know everything, but I feel like I know enough to get started on what would be technically my second rental property, but my first one purchased with the sole purpose of being a rental. 

Hello BP friends!

I am from the St. Louis area and have recently moved across the country, right as my REI "career" is getting started, with plans to move back to my most well known market in about 3 years. I've been reading (bp forums), listening (to the podcast) and researching since I've moved away and I'm *beyond* eager to get started. HOWEVER. Being that I'm so far away from my target market, what do YOU think my best course of action is?

A) Strategize while I wait to get back to the market I know best so that when I get back I'm well-prepared to jump in with both feet and hit the ground running (insert your favorite cliche' here).

B) Act now so that I have a head start for when I move back

-Part B to the... Part B: if I act now, being away from the market I know best, what is the best course of action to take as an investor? If I were there, I would either be doing the BRRRR/live-in flip strategy or maybe even wholesale.

Thanks in advance! Happy investing!

@Jared Vidales Hey Jared, I'm from the St. Louis area, and that's a really good rental area. It would be good for fixing and holding, or wholesaling to someone who was wanting to do just that. Does it need a ton of work?

So, I'm having a little trouble finding funding for a lower-priced property, through banks PML and other. I'm wondering if it would be worth it to find a few small lower priced properties and take the bundle to a small local bank or commercial lender to get funding over the whole amount. I have very little experience with bundling properties, but I've heard it said that it can be done. Thoughts?