All Forum Posts by: Bret Halsey

Hey y'all, speaking directly with a seller and looking to put his property under contract. The property is in Arkansas and I'm looking for a purchase and sale agreement template that has clauses for inspection and appraisal contingency along with the general stuff. I'm not sure what I will do with this property, either double close wholesale or add value and flip, but either way I want to protect myself. 

@Robin Simon Ok, do you have any recommendations and should I look local or national as an out of state investor?

I'm looking for funding on a Triplex located in Arkansas. It's currently already rented however I'm looking to make some improvements, bump up rents, and refinance or sell it. The numbers are great and I really just need quick funding with not many hoops to go through. I'm open to private money, hard money, DSCR loans, partnerships, and anything else that makes sense. Please let me know if you have anyone in mind that could get it done for me!

I've heard of some investors getting more money as an incentive to rent their house through Section 8. Does this really happen? Can you be paid above market rents by Section 8 to sort of offset the perceived higher risk I suppose? If so, how does one go about knowing whether their rental can be a Section 8 house and how do you apply?

I've heard somewhere about a strategy to find a deal, bring a partner in and become an equity shareholder with no money (sort of relinquishing the wholesale fee for it), then buying out your partner later down the line. Is this strategy really viable? And if so, what would be a specific number example or if anyone has ever done it how did it go for them? I'm assuming the typical exit strategy would be to refinance and take those funds to buy out your partner but not sure. Any input appreciated, thanks!

How does one go about wholesaling a seller finance deal? 

@Travis Hill does it make sense then you think to reach out to a national lender and just try to build a relationship through them?

Makes sense, I'm investing virtually out of state so guess I will have to do a little more work haha but will do. 

I'm looking at a 10 unit property in Arkansas and I'm wondering should I seek a loan from a local or a national commercial lender? I'd be planning to do some renovation/value adding then probably refinance in 8 months - 1 year. I also would like as low a rate as possible of course so would it make sense to work with a local bank that understands the market and the area, or seek a national lender that may have better rates or be better long term relationship wise? 

Does anyone have any ideas the best ways to find the vacancy rates for multifamily properties/apartments in areas I'm considering? For example, if I were to be interested in different cities in Wisconsin, would it be smart to reach out to commercial brokers, lenders, and other investors there? Or is there some sort of data base or way I can roughly calculate it myself?