All Forum Posts by: Brandon Richards

We have an in house lender designed around lending for portfolios and for hard money on rentals answer flips. Message e and I'll get you his contact info. As far as the "paid for" properties, what's holding you back from getting a HELOC and using it to fund the the next deal?

I would tend to agree with your friend, so long as the deals are there and are right for money. $50k is plenty to get a deal moving. I'd talk to a hard money lender who is seasoned in investments, not to necessarily get "hard" money but to be able to have conversations about what and ARV, Rehab, MAO and other investments conversations that a normal lender may not know and may not have access to the right funding for your needs.

The whole DFW area is still HOT. You've got to know where to look and how to notice a deal when you see one. I have nearly 20 deals come across my desk a week. Of the 20, I dial it down to atleast 1-4 good deals. These are spread throughout the DFW area. Garland, Mesquite, Dallas, Carrollton, Arlington, etc. Good luck on your adventure and let me know if there is anything I can do.

Depends on budget really but, if you want to be in the heat of the movement, stay north, thats where the money is going. 

@Chance Housos, I messaged you. Please send me photos and other relevant info

Is this still available ?@Chance Housos

this little area has evolved to be a very high end area

please pm me info

I'm always here

I don't ever suggest paying over market value, ever. You always want an exit strategy incase things go south. What happens if you buy this property at $143k with an estimated completely rehabbed value of $105k,then you decide being a landlord is not for you, or you lose your job and you need your cash out? Youve got an instant $30k negative equity. Let's assume it magically appraises for $120k as they say....appraisals don't mean a thing if the neighborhood doesn't support it. There's a a reason the "biggest" or " most expensive" house in a neighborhood sits on the market longer. It's an odd ball, no one wants to buy the one that might give them troubles when trying to resale. Only time I would ever recommend buying at retail is a brand new build, other than that I would never tell anyone to buy at any more than 90% of its market value. I'm a realtor first and investor consultant second. I know what sells and I know how the banks work. How are you going to get funding on a 143k house worth 120k? No funding I'm aware of and I have dozens of institutional and private lending contacts. They have in house hard money? Who's paying that gap between purchase and appraisal? Banks are wanting to know how they make their money back if you fail.