I just bought rental property number 11!

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I just bought rental property number 11!

Mark Ferguson
Flipper/Rehabber · Greeley, CO · Member since 2013 · 2k+ posts · 1k+ votes

I bought rental property number 11 for $109k and it should rent for around $1,400, but needs some work.  Here are the details and a video.  http://investfourmore.com/2014/07/25/rental-proper...

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  • Evelyn Jordan
    Residential Real Estate Agent · Los Angeles, CA · Member since 2014 · 50 posts · 30 votes
    12y

    That's great Mark! Congrats and keep up with the good investing!

    0Reply
  • Mark Ferguson
    OP
    Flipper/Rehabber · Greeley, CO · Member since 2013 · 2k+ posts · 1k+ votes
    12y

    thank you @Evelyn Jordan 

    0Reply
  • Azeez K.
    Investor · Atlanta, GA · Member since 2013 · 646 posts · 392 votes
    12y

    @Mark Ferguson Kudos! It seems like you have exceeded your initial goals and still time left in 2014. That's great. Keep the momentum going. 

    0Reply
  • Mark Ferguson
    OP
    Flipper/Rehabber · Greeley, CO · Member since 2013 · 2k+ posts · 1k+ votes
    12y

    @Azeez K. Thank you!  My goal was to buy 6 rentals in 2014 so I am half way there.  I still need to buy three more, although the fix and flips have been taking a lot of capital lately.  I won't be too worried if I don't meet my rental goal because my fix and flips took off so much. 

    0Reply
  • Ramon Jenkins
    Real Estate Agent · Milwaukee County, WI · Member since 2009 · 3k+ posts · 525 votes
    12y

    midwest congrats

    0Reply
  • Aaron Montague
    Rental Property Investor · Brookline, MA · Member since 2013 · 1k+ posts · 777 votes
    12y

    @Mark Ferguson 

    Excellent, congrats!!

    How did you pay for this one?  Do you have available mortgages in your pocket?

    0Reply
  • David P.
    Wholesaler · Westminster, CO · Member since 2013 · 224 posts · 77 votes
    12y

    Way to go @Mark Ferguson keep it up!  I'm curious too as how you paid for this one?

    0Reply
  • Mark Ferguson
    OP
    Flipper/Rehabber · Greeley, CO · Member since 2013 · 2k+ posts · 1k+ votes
    12y

    @David P. @Aaron Montague I used my portfolio lender who has no limit on the number of loans I can get on my rentals.  This is my 11th mortgage, plus I have a line of credit on one paid off and I have 9 flips going that are financed through them as well.  20% down on rentals and 25% down on flips.  

    They did say they want to talk to me though, because I now have over 2 million in loans with them.  I think the approval process changes.  

    1Reply
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