All Forum Posts by: Frankie Woods

I you buy the home right, you could always refinance and pull all the money out up to the ~70% LTV. Buying in the inner city can be risky though.

I haven't used one after 5 deals, but I feel that it is a personal decision based on your tolerance for risk and the contentiousness of the deal/market.

This is such a great topic, and you've gotten some terrifc answers; my favorite being @Mike B. !  I generally use the 50% rule initially and adjust based on all available data.  I just recently bought two 4-plexes and am seasoning the properties now.  Fingers are crossed that the analysis holds!  Obviously, these are closer to SFRs than the multi's others have mentioned.  I hope for more responses! 

Welcome to BP!  No question will get you laughed at here.  There are members at all stages of the investing pendulum here!  Never be afraid to ask!  Lease options are a good way to use creative financing.  Good luck!

Oh, and nice first name :)

Welcome to BP @Frankie Lubin  !  As you can see, the community here is both well-versed and helpful. It seems like you have the education part of R.E. down, which I believe is the most important.  The resources on this site are second to none.  I would also add that participating in the forums/blogs (i.e., both asking AND answering questions) is one of the keys to transforming information into actionable knowledge!  There are several ways to take action, none of which will be comfortable, but you have to take the course that makes the most sense to YOU.  Good luck!

Great advice @Bill Gulley !

Welcome @Christopher Elliott !  Check out this post <http://www.biggerpockets.com/forums/12/topics/1538...>

You may be stuck with private lenders (e.g., family) or hard money loans...  They work though if you find the right deal!

Another really good discussion.  I'm in a similar situation where the appraisal came in much lower than expected.  This forum is making me breathe a little easier with the decision to not only buy one, but two in less than 3 months!  Thanks guys!