All Forum Posts by: Andrew Garcia

Hi @Maurice Webb, the best way to figure it out is to talk to a local real estate agent.

Ask them to do a comparative market analysis, or CMA, on your property.

They will tell you how much your property is actually worth.

If you would like a referral to a Dallas agent, please let me know.

Otherwise, you can use the "Find an Agent" tool at the top of the screen.

Hope this helps! Please let me know if I can be of any assistance.

Hi @Michael Magee, the lack of inventory is not only with the lack of houses to buy. There is also generally a lack of rental inventory.

You could also try to bank on the appreciation. The home equity growth will generally outpace the negative cash flow.

If you lose $300 per month in cash flow, that is $3,600 per year in the red.

On a $300k house, at a 3% appreciation rate, you would be at $9,000 in the green.

You could also try looking at more cash flowing markets such as in the Midwest.

Alternatively, you can create the cash flow by doing a BRRRR.

Hope this helps! Let me know if I can be of any assistance.

Hi @Paul Conboy, I can refer you to a lender that can lend to LLCs if you would like.

Feel free to connect so that we can exchange information.

Hi @Jennifer T., you might want to get a DSCR loan since you have no verifiable income.

I am not sure if that product is available for Canadian properties but it is definitely worth looking into.

Additionally, you might want to look for local banks and credit unions to finance the vacant land.

It would be tough getting a loan against vacant land from traditional, larger lenders.

If you have enough assets that you will move to them, they might overlook your lack of verifiable income.

Hope this helps! Let me know if I can be of any assistance.

Hi @Jason Villarreal, welcome to the community!

If you go to the "Network" tab at the top of the screen, you can type in "Phoenix, AZ"

From there, you can connect with people in your local market.

Just remember, don't spam anyone as it is against community guidelines.

Hope this helps! Let me know if I can be of any assistance.

Hi @Maureen Muringi, who are you trying to market to?

Are you trying to market to distressed homeowners?

Are you trying to market to landlords?

Are you a real estate agent trying to market to potential homebuyers?

Specifying your audience will help me and others on this thread give you advice.

Hi @Matt Schulze, welcome to the community!

If you search by your location, you should be able to find some local investors in the "Network" tab.

Hopefully, they can help you find some local meetups!

Hope this helps! Let me know if I can ever be of assistance.

Hi @Ryan Friend, it depends on the strategy.

If you are doing a BRRRR or fix and flip, then you will typically need to put down 10-20% of the purchase price + rehab.

If you are buying an STR, you will typically need to put down 25%.

If you are buying an LTR, you will typically need to put down 20%.

If you are buying a house hack, you will typically need to put down 3.5%.

These do not include closing costs which are typically another 2-4% of the purchase price.

Hope this helps! Let me know if I can be of any assistance.

Hi @Solomon McConnell, I would be more than happy to refer you to a great lender in the ATL.

For the other two, unfortunately, I cannot be of much assistance. I apologize.

Feel free to connect.

Hi @Rik Hunter, there are plenty of lenders out there that can do HELOANs on investment properties.

I would typically be able to refer you to a lender that can help but Tennessee has some abnormal rules and regulations regarding second liens.

Therefore, even for a national lender that is licensed in TN, they may not be able to do anything in the state.

Sorry I could not be of more assistance. Hopefully, someone else has a contact in TN that can help you.