All Forum Posts by: Brett McManus

Sounds bogus. Either start calling around to other small local banks or use it as the writing on the wall to start using other forms of non-conventional lending (seller financing/commercial). 

Seller finance, commercial, take a deep look at why partnering is out and potentially reconsider. 

Get solid, consistent W2 income and the house hack. Having some real income and tenants paying down your living expense will make every other strategy you learn about WAY less of an uphill battle. 

@Nate Sanow. I have not launched the site yet (just wrapping up the build) but am very pleased with the overall look. Site looks great but does not mean anything unless it can rank :) I will circle back after a few months to report on performance. 

@Vince Espiritu FHA203k is a solid route. I went with a standard FHA loan on my first duplex and wish I had known about 203k at the time. There are quite a few individuals who will downplay the program saying that you will never find contractors, banks to loan, etc. but it is nonsense. I know a few investors who have done this and many of their figures are phenomenal.

As important as I believe it is to have a runway, taking real action on steps on 2-4 far exceed building out step 13. Pick-up the phone, call a realtor and a mortgage broker, and get the ball rolling to see what can actually be achieved in your market with your personal situation. 

I've been using Vestor.com and so far so good. Pretty easy to update and create. 

Honestly I just tried to avoid Carrot so my website does not look exactly the same as every other "we buy houses for cash" site in my market. Almost every website is using the same stock images. 

@Bruce Runn

Good deal! I'll have to go check it out. Live over in the Powderhorn Park area but have been venturing out to some new neighborhoods when walking the dog to learn the area, see where the projects are happening, etc. 

Let us know if you ever consider walkthrough's on some of these projects. Would be very neat to see some of the rehab work you are doing on the inside as well (COVID pending of course). 

@Rebekah Valdez

I do not think it is necessary however, I would want to be certain their are good chances the deal could go through to sure I am not wasting their time. This is more for the sake of your relationship to ensure you are not calling them for every property you walk through. 

After talking to a few of my local contractors it is much more preferred to bring them in during the inspection period, especially when first starting out. 

Hi @Collin Emerson Miller, It has always been recommended to me that an inspection should be conducted regardless if you are having a contractor come through or not. If anything it is just another set of eyes on the property to catch any oversight from the first. I would schedule the inspection first and have your contractor come the same day or soon after to integrate anything the inspector finds into their SOW. 

I'm not sure I am fully following the 2nd part of your questions but if I am, I would think a few hundred dollars for an inspections is way better off in the long-run then pulling the trigger on a property to find out your SOW is way short down the road....