All Forum Posts by: Brandon Pate

Ride around and find the houses that have a for sale sign in the yard by owner.  Speak with them and see if they are intrested  in owner finance.  You wouldn't believe the amount of people that will owner finance to avoid capital gains.  All they can say is no.  If you see a property that is vacant check the tax map and contact the owner.  All they can say is no.  When you owner finance you can get a better rate and sometimes not have to put down nearly as much as you would going through a bank.  If you are in a smaller town work with a local bank.  Get to know the bank manager.  They will be your best friend as you grow.  Also you will want to do a lot of work yourself.  But it will bite you.  Just go ahead pay out of pocket to get it done in a timely manner bc they power bill water bill and your time will almost be equivalent to what you could have paid someone to do it for not to mention loss of rent for the time it took to rehab it.  Off market deals are always your best bet.  Just bc it isn't posted for sale doesn't mean it's not for sale.  A closed mouth doesn't get fed.  
cheers!  

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $145,000
Cash invested: $190,000

purchased some run down quad plexes that were barely livable. Kept them for a while. Did a construction loan on the property. Property appraised for 200k after improvements 600k. 340k mortgage 8500 a month cash flow.

What made you interested in investing in this type of deal?

it needed some TLC

How did you find this deal and how did you negotiate it?

Found it by word of mouth. Off Market deal. Talk to owner to negotiate it.

How did you finance this deal?

Bank

How did you add value to the deal?

construction loan

What was the outcome?

better cash flow more equity

Investment Info:

Large multi-family (5+ units) other investment in Myrtle Beach.

Purchase price: $283,000
Sale price: $555,000

Owner financed a mobile home park at 3 percent interest with no money down. Flipped it 3 years later after increasing cash flow.

What made you interested in investing in this type of deal?

Cash Flow

How did you find this deal and how did you negotiate it?

found it in 2017 finally made the deal in 2021

How did you finance this deal?

owner finance

How did you add value to the deal?

hardwork and determination at a young age

What was the outcome?

great investment opportunity