All Forum Posts by: Anthony O Cave
Anthony O Cave has started 2 posts and replied 3 times.
Post: financing for ltr properties
- Posts 3
- Votes 1
Quote from @Patrick Prunty:
When you say, 4 properties 110-125k from same seller, are you stating each property is 110-125k or all 4 for a cumulative total of 110-125k? Also, are these 4 properties all on a single parcel/tax id or are these on 4 parcels/tax ids?
Post: financing for ltr properties
- Posts 3
- Votes 1
I have seen how to raise money for flips and brrr strategy etc. However Im a little stumped on ideas for getting funding for a rental that doesnt have a ton of value add. It meets 1% rule and is actually 4 properties 110-125k from same seller. I have my own business but only for 2 years now so most traditional lenders arent going to be of any help that I see. 2 units are rented currently for the next few months when lease runs out. Is there a type of lender that will lend in this scenario and having two units rented add as benefit to them? I have one rental now I could show details to a lender on and have rented a house previously for 4 years so not brand brand new to it. Any ideas on where I could source funding ? I could swing 10% down if I had to. Thanks !
Post: First purpose purchased rental
- Posts 3
- Votes 1
Investment Info:
Townhouse buy & hold investment in Osceola.
Purchase price: $220,000
Cash invested: $20,000
3Br 2 Bath townhouse we purchased for long term rental. 90s/2000s builder grade inside nothing special but was ready to rent with a little paint. Wasn't the best purchase as I didn't know numbers as well then and just went off realtors opinion mostly. It does cash flow and has appreciated 40k in the time we have owned it so not horrible.
What made you interested in investing in this type of deal?
Had previously rented out a home we once lived in and wanted to get back into real estate
How did you find this deal and how did you negotiate it?
realtor
How did you finance this deal?
primary residence loan, we lived in the residence for a short time while we were waiting on new house to close.
How did you add value to the deal?
nothing yet. future plans include roof, flooring downstairs, update kitchen and baths
What was the outcome?
decent investment for the long haul. Knee jerked on purchase as I was tired of procrastinating and impulse bought it honestly
Lessons learned? Challenges?
know my numbers better and look for properties I can add more value to. Not buying in hoa community
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Not really