All Forum Posts by: Adam M.

Hello all. My buddy and I are really interested in REI and would love to meet up with some people in the KC/Lawrence area and socialize.

I've been looking into CRMs for a broker I am freelancing for and I came across Pipedrive.com. It looks like a comparable price point to all the other ($29/mo for the middle tier). Looks fairly customizable with solid analytics. Just a suggestion!

Yeah I think they are likely in the big markets CA, TX, NY, NJ etc. But anyway to save money increases returns.

Read this the other day and meant to post it.

https://techcrunch.com/2017/05/25/spruce-4-5-milli...

Looks like a good way to save some money on closing

My first question is why?

I'm gonna have to remember to revisit this post in a year and see how I feel about it. At the end of the day I'm perfectly ok w/ 6-8% returns over a long time. S&P 500 averages 7% long term.

@Rick M. There are plenty of spec MF plans out there. Keeps costs down. Maybe find a builder that has done a couple. Just my 2 cents. (meant to tag Rick)

Don't have any properties myself but from everything I've read it seems to be the best option. Talk to your bank about setting up ACH. Also if you use Quickbooks or any land lording software it is likely this is a feature. You do have to get them to sign an ACH authorization form.

@Danielle C. I think in this situation I'd stick to a conventional mortgage. Save up the downpayment and possibly borrow from family members. Finance repairs with a combination of CC and HELOC. Get a GC (help mitigate doing anything improper) and negotiate to do as much of the labor as possible. Your carrying costs on the conventional mortgage will be way less than HML without the pressure of the balloon payment. Also you could decide to rent the property out and refi out the equity gain when you are done or sell. Another thing, as nice as it is to save money by being your own realtor but established ones already have a network of buyers, know how to market and turn properties. Same w/ the GC. Just my 2 cents.

Is there any particular reason you don't want to get a standard 30 mortgage through a bank?