All Forum Posts by: Jeremy Shepherd

I went to a meet up in Jacksonville in Feb and met several investors, wholesalers, lenders, contractors, etc.

Use the equity and invest in more properties.

The local bank I deal with hasn't cut me off at any number. As long as the rental income will cover the payment. However, here in WV I buy houses for $25K - $70K mostly. When I did accumulate $200k in mortgage debt the banker had to get approval from the president, but that hasn't been an issue. Also when I bought my first 6 unit building it had to be approved by the loan board of the bank because it was $245K. All my loans are through an LLC and are commercial with 20% down.

Sell it to Nicole Curtis

I had a tenant make this request because he didn't know cable providers offer Internet.

Do you have photos? Is flood insurance required?

First investment property I bought had seven heirs. Took about 3 months to close due to all of them living in different states and having to receive, sign and return documents. None objected to the sale or price so that helped. Attorney handled it all.

Welcome

Over dinner the other night my mom said, "When are you going to get a real job?" I just smiled and thought to myself, "17 units in 18 months cash flowing over $7k per month isn't bad." Oh btw my mom is a retired realtor and property manager.

I call this the West Virginia dream and have bought several in this range with rents from $550 - $800 per month.