All Forum Posts by: Andrew Kilgore

Hello all! I have found a cheap property in the Anniston/Oxford (Alabama) area for around 20k. I haven't estimated rehab costs, but hypothetically it would cost around 30k for a full rehab. I am also estimating the ARV to be around 85-90k. The problem I'm running into is I can't find any hard money lenders that are willing to lend under 100k. Do you guys have any recommendations, or do you think I should just try to find another deal?

Thanks for the reply @Greg Henderson! I’m not sure that there is much improvement to be made on this one. However, I am planning to rent this out, as I am living elsewhere at the moment. I wouldn’t necessarily say that this is a poor area, but it’s definitely not a “wealthy” neighborhood either. It’s in a good location next to the high school in the area. 

Thanks @Jeffrey AlbaumI will be renting this home out to tenants.

Hello all! I am a 23 year old male, and I am looking for advice or info on my first deal. I am under contract to buy a 2 bed 1 bath home that is move in ready. I am purchasing for $54,900, and the house appraised for $65,000. I obtained a 15 year loan that is amortized over 30. The house is in a quiet neighborhood in north Alabama (around the Oxford area). I am looking for ways to leverage this property to buy new ones, or ways to grow my real estate business. Any advice would be appreciated!