All Forum Posts by: Ace Saxon

I didn't end up finding a lender for this deal, however while looking I did find another lender that is very investor friendly. (at least from a buy and hold point of view)

I am looking for wholesalers in my area to get added to their email list. I am interested in properties in southern Indiana, mainly in the Georgetown, New Albany (Floyd county) area but I will look at deals in Clarksville, Jeffersonville, and Corydon also. Thanks in advance!

I know of a house that is empty and the owner plans on selling eventually, what would be the best way to approach them? Here is a little of the back story. The owner is a family member of a good friend, and the owner pulled some underhanded stuff to get possession of the house after my friends father passed away (it wasn't the fathers house, he sold his to move in with and take care of his elderly mother). So needless to say this guy is a real piece of work. I know he plans on selling the house after doing some repairs because I talked to the neighbors and I am pretty sure if he can sell without putting money into it, he will. The reason I am asking for advice is I am very new to REI and this will be the first time talking to an owner myself. Thanks in advance.

I have found a deal that the owner is willing to carry back 20%, has anyone done this kind of deal? All of the lenders I have talked to say they won't do that and never heard it being done. I have 10% as well so the lender is only financing 70, I thought they would be more willing. Any advice would be helpful as I am extremely new to RE investing.

@Josh Harris I am looking in the Floyd County area, then after getting my feet wet I will be moving into the Louisville area

Just an update, I was out looking at houses today and happened to meet a RE broker that has 35 years of helping investors, at one of his houses. We got to talking and he offered to meet with me tomorrow and put a plan down on paper. I am kinda skeptical but hey it cant hurt right? He also said he knows of many ways to get funding other than traditional banks. 

I also want to give a big thanks to all of the helpful people here on Bigger Pockets, I am so glad I found this community. I look forward to connecting more people here, BTW if there is anybody on here in the southern Indiana area I would love to meet up and share ideas. 

@Nicholas Armstrong, it's not that I can't do 20% I just want to have as little in the property as possible. I guess a better way to ask my question is what are some ways to get 90% financing without using a bank? Not real familiar with hard money loans but have been advised to use them as a last resort. Again this will be my first deal so any advise is helpful.

I am looking at a few properties to be my first buy, fix, and hold property. I am needing some help figuring out the funding part. I have a down payment and good credit and my plan is to buy, fix, then refi for a 30yr. My questions are what would be the best source to get in the house for no more than 10% down and what options let me close the fastest? I hope this all makes sense, thanks in advance.

I am looking for a good RE/Business layer and a CPA familiar with RE investing in the New Albany Indiana area. Any help is appreciated, Thank you.

-Ace Saxon

Also around the Louisville KY area