All Forum Posts by: Brandon Boyce

@Mel Hayes Thank you very much those are great suggestions. I will definitely try some of those options. In regards to Hard money and OPM, I keep hearing people not using any of their own money. I ran an application with a hard money lender and they want me to have 60K liquidity for down payment, carrying and closing costs. 

I've spoken to a few different contractors and wanted to reach out to a couple more. Where is the best place to find contractors? 

@Bruce Woodruff 

Price point is $300k-$400K, with 20% down for a coventional loan. We like hard money because they fund 90% purchase and 100% rehab with less down for a BRRRR or flip. That would leave us money for carrying costs. Long term goal is to do this full time, have some SFR and duplexes adding doors at a reasonable rate.

@Jonathan Greene 
Thank you for your response. We are looking for off market because there are so many eyes on the standard sites and when we pencil the numbers they dont make sense for long term rentals when using conventional 20% down on a $400k a SFR. When we crunch numbers on rehabs the ARV is usually tight. We have some experience with 2 fix and flips. Now we have our primary residence and have been doing some upgrades ourselves. We have equity that we want to leverage and buy something close and manageble so we can learn more. We have some hard money lenders lined up for BRRRR or Fix and flip, STR’s around here aren’t a good play. We want to have numerous exit strategies, Yes Ive seen numerous properties in person. 

@Andrew Freed Thank you I have used some of those methods. Ive joined some groups and done some zoom meet ups. Ive talked to numerous agents and Im on their MLS lists but there so many eyes on those properties. For example a duplex in Roseville Ca on 7500 sq ft lot that went pending in 24 hours. I constantly crunch numbers on SFR and they don't pencil out. I just recently have been using a list of pre-foreclosures/ foreclosures cold calling and driving for dollars.

@bud 

@Bud Gaffney Sacramento Ca region

Sacramento Ca region

I'm north of Sacramento and also looking for my first investment property. We have been crunching numbers for awhile on properties around this area on duplexes (if you can find them) or SFR. The numbers don't make sense. I need distressed, pre-foreclosures, foreclosures, something with an upside. We have a good amount of equity and want to leverage that to hedge against inflation, amongst other reasons.

Any advice or resources is welcomed!

Thank you 

@Lyndi Love 

@Tim Ryan

Thank you Michael, I have been using those methods like deal machine, list source etc... that you have mentioned with no luck as of yet. All the agents I've talked to just send lists of MLS properties at retail prices, I do have one agent that is getting a list from a bank this next week so hopefully he has some decent ones. I NEED access to pre-foreclosures, foreclosures, and distressed properties, not some turnkey SFR that I can't cashflow or rehab.

Where is the best resource to find off market deals?