All Forum Posts by: Andrew Zannotti

@Nathaniel Clark I've never personally met anyone that's done this but I would imagine that there is some lender out there that may entertain this if they are in 1st position on the lean. You just gotta beat the phones up hard and ask. Please post a follow up with what you find out, I would love to hear about it.

@Justin Shabanian really depends on what market you are in but I kinda started out the same with a set amount to spend out the gate. 1st I would house hack with a low down payment multifamily. Second I would BRRRR or do some type of value add so that you can refinance and reuse your money, in my opinion it's the fastest way to scale without over leveraging.

@Rafael Frias

Awesome post, it's great to see the why for people!

My goals are to create 9K a month in passive income for BRRRRs and other value adds. Also to own at least 2 STRs in areas that I want to vacation in that will pay for themselves and give me the flexibility to visit at least once annually.

@Josue Vargas They saying is out some book, I think it's Rich Dad Poor Dad but I could be wrong. You are absolutely right you make money on both ends but the quote in itself is meant to talk about buying when you know it's a good deal that will make you money in the longer term when you sell or cash flow.

@Anthony King

And it also sounds like you have stable tenants and turnover is going to be your highest expense.

@Anthony King just from what you said and this was me I would probably go for it. From what I got out of the thread you are making a down payment so you don't immediately need to recycle the money for your next purchase so you already had money set aside for this. I do value add because I keep reusing my money to acquire more deals but that's just a difference in strategy and more of it would take me a while to save a sizeable down payment like that.

You mentioned the neighborhood is good, that goes along way with taking care of your property and I would pay more or work harder to make a deal work in a neighborhood I want to own in.

Interest rates are insane right now, if you decide to sell down the road your loan alone is worth money when rates climb again.

As everyone mentioned networking is going to be your biggest help for the scenario that you a re looking for. 

When approaching sellers get a great understanding of thier situation and see how you doing an owner finance with them will provide value for both of you. I just put an owner finance deal under contract because I could solve a problem for the current property owner so believe me, what you are saying can be done. 

Would a potential house hack with a 203K loan be an option for you because the lending restrictions are a little more lenient and you have the smaller 3.5% down payment?

Last, I visited Spokane a few years ago, I thought it was an awesome city, it would be awesome to own a multi up there, my first deal was almost up there a few years ago but I couldn't make it work because I was still in the learning phase and didn't thoroughly understand how to finance it.

Looks great!