All Forum Posts by: Brady Lee

Thank you @Jeff Howard for the advice, I really appreciate it!

I couldn't be happier to find this post, as my family and I are looking into doing the same thing. I have a couple of questions for you @Jeff Howard if you don't mind.

1. What do you do for financing? Do you just do conventional mortgages since it is where you are living?

2. Where do you find deals? Do you drive for dollars, mail marketing, etc.? Or do you just find deals on the MLS and other websites?

Any and all advice you have for flipping like this would help me out dramatically! We really want to flip houses to be able to purchase some rental properties but the only way that I have found to do it is living there like you and hard money loans. We obviously prefer living and flipping as HML's can be risky and expensive. thanks again for this post!

I agree there hasn't been much in regards to vacation rentals. For our first investment property we are getting a condo because it can bring in almost 3 times the amount of a long term rental. I guess a long term rental may be less risky but in my current market, vacation rentals seem the best route for us. Glad to hear you are having so much success!

@Joe Au I am looking mostly for SFH to flip and multifamily units to possibly house hack or just rent them all out. I have been looking a lot on the MLS, my dad is an agent so I have that access and then a lot of other real estate websites in Utah. It seems like there are deals out there, I'll have to keep my eyes opened.

@William Hochstedler what kind of properties are you buying mostly in Ogden? Do you get these deals yourself via mail marketing or just on the MLS?

I live in Northern Utah and I have been looking and looking in Davis and Salt Lake Counties and haven't found a ton of deals, everything seems vastly over-priced. I have started to look more up north towards Ogden, has anybody had any luck up there? There are some cheap houses but some of them aren't in the best of areas. I would love to hear what experience/success people have had up there or in any area that isn't "the best" of areas. Thanks

@Steven Bond I am new to the REI game and I've had loads of questions about financing. First of all, you mentioned that there is a Fannie Mae limit of 10 loans. As you acquire more and more properties/loans does it get harder to qualify for the next one since the debt to income ratio is higher?

Secondly, that portfolio loan from Mountain America sounds pretty amazing. Have you heard of a lot of people being able to do it? Is it hard to qualify for? Like I said I don't know anything about financing and that has been what has held me back from getting all in. Do these loans work for flips as well as rentals? 

@Andrew McFarlane first of all congrats on the baby, my wife and I just had our first 8 weeks ago. It would be great to hook up sometime and just talk about things. I have a lot of ideas but not sure how to make them happen. Financing appears to be my biggest issue as I'm trying to find the best way to do this. 

Ana Kinikini I would love to get added to your buyers list, pm me and we can connect. Don't listen to what people say, it sounds like you're doing great!

@Jared Carpenter with that being said though I am new to REI so I may just be blind to deals.

@Jared Carpenter Centerville is good but the market is tough right now for investing. House prices are pretty expensive for even "crappy" houses. I'm probably going to shy away from farmington as well unless I found a screaming deal. Some of the new developments are pretty pricey. Maybe if I was loaded haha that would make things a lot easier. I'm keeping my eyes peeled for good deals but they're tough to find right now.