All Forum Posts by: Frankie Woods

I find my deals thru pocket listings from real estate agents, PMs, and wholesalers I've built relationships over the years.  My properties are in South City, and I use two property management companies: STL Mogul Realty and Frontier Property Mgt.  These two companies both have in-house general contracting teams.  I've used F&B Financial and Longhor (hard money) for funding.  With my team, I can do everything out-of-state.

Please feel free to ask any specific questions you may have. 

@Collin Schwartz congrats on your success!  Thank you for sharing this incredible story, and I wish you continued success!

Check out PenFed

PenFed offers 80% if you have < 4 properties.  Navy Fed and Wells Fargo do 70% with interest + 1% payments for 10 years.

Welcome to BP @David Ware! I just closed on my 5th MFR in October. I love the STL market!

@Bobby Zandate FYI, you have like 15 - 20 mins to edit your post without getting the ****ing "updated" lingo under the original.

It seems like you did your numbers correctly based on the limited information you provided.  $410 / month in cash flow on a "no-money down" deal is fantastic in my opinion.  You are essentially making 8% on free money.  The arbitrage is great!  My only concern is that, at the purchase price, you may be in a war zone which causes all sorts of dilemmas.  Did you just get a home run deal?

PenFed, Navy Federal, US Bank, and Wells Fargo all do HELOCs on investment properties.

@Nathan Gesner is spot on.  Try to find someone that will let you provide some sweat equity into one or more of their projects while you learn the ropes.  Network your a@@ off with different RE professionals in your area.  And leverage BP by continueing to ask questions, and as you learn, begin answering questions of others.  Meanwhile, save every penny that you have in case a deal falls into your lap.  

Ensure that you're telling everyone you know in your personal circle what you plan to do and what you are actually doing.  Who knows, one of them may want to get into a deal with you.

@William Troy Weisler welcome to BP!  I own two SFRs in the area and am looking to expand.  ABQ is a tougher rental market, but opportunities certainly exist!  Best of luck!

Here is an interesting article providing real estate trends thru charts.  It's certainly compelling in that we have not peaked: Has the Housing Market Peaked?