All Forum Posts by: Zac Stiles

@Dominic Lupe

Send me a direct message and I will put it together and coordinate sending back the link to view

How are you finding good deals to rehab or flip? Specifically, what creative ways have you found to find the best deals?

Of course I watch what's on the market, get wholesaler emails, and try to keep my eyes open. But it seems like everything I see is trying to leave none or very skinny margins.

Anyone knocking local doors? Targeting specific addresses? Other places to find deals or sellers?

@Mordechai Chaimovitz

These things are all true. You cannot take out a conventional loan under the name of an LLC.

By transferring title from one name to another, you are transferring ownership and triggering the due on sale clause. "People are getting away with it sometimes" is never a reason to try. Mortgage fraud is not a thing to take lightly.

@Gurjot Grewal I agree! Cash flow is King in my world. I don't care if my property value dropped as long as the cash flow was consistent enough.

@Michael Anderson Use little or none of your own cash when possible. Imagine if you could buy apple stock without using your own money, but you get all the appreciation and dividends. That's what real estate offers! 😁

I agree with investing out of state, I live in Utah and have one rental property so far in Illinois. Bought for 75k and rents for $850! Great areas for cash flow and low prices. Being a loan officer in 49 states gives me a unique angle sometimes on different markets, and I currently like Illinois and Ohio for your situation. (Or similar states/markets.)

Where are you finding the highest cash flow for long term rentals? Or how, if you have more of a strategy than a location that brings you higher cash flow.

I have a single family rental in Illinois for the high cash flow and planned on getting more. Due to higher rates etc, the margins are getting tighter than I want. Looking for advice from others across the country! Thanks.

@Marcos Carbi you cite your concerns about the property being worth less in 6 months, does that mean 6 month is your goal timeline for this property?

If you need the property value to be at a certain figure within 6 to 12 months then I understand asking more of a question. If you are buying for a long-term strategy such as 5 years plus, then I think it's a no-brainer to buy any properties you can get your hands on.

@Dominic Lupe

There are loans for any situation, but the less traditional it is the higher the rate will be. But a "high" rate today might end up as a "low" rate tomorrow...

As others have mentioned, DSCR, bank statement, conventional, and more options to consider.

I have a software that can show multiple scenarios side by side so you can see the payments and other details for comparison if you are needing more information to help you make a decision.

@Kaitlyn Robinson wholesaling sounds like a good start for you. Like you said, it's a good way to raise capital to start putting into your own investment projects.

@Joshua Mason I'm always open to chatting! I have my first out of state rental and planning to get 3-4 more this year. Lots still to learn I'm sure, but I'm picking up a lot from the hands on experience now. My day job is mortgage loan officer, so I get a little more perspective and experience than the average person.