All Forum Posts by: Brian Bauk

What´s up everyone? I hope this finds you all doing well. I am fairly new investor, currently owning two single family homes using traditional lending and my own money for down payments. However, I would like to expand into other financing techniques and just have a few questions. There are a few “big money” guys I have discussed preliminary actions with, but I’m curious as to how you actually go about that. It all feels complicated. Should I go grab a lawyer to type something up or is there other ways I could go about it less expensively? Thanks.

-B

Jason and Sánele,

Hope you guys are off to a hot start this morning. Sanele, I originally typed up a full proposal for my parents as well as another investor that was interested including everything I could possibly think of. I worked with a general contractor that I know to get some opinionated estimates on repair costs and so forth. Long story short, negotiations didnt quite go how I wanted them but my folks were still open to renting it. Now I am working on getting the house together to rent for them and take a piece of that profit. In short, the original plan didn’t work out perfectly but the renting for them plan is going fairly well. It sounds like Jason is predicting the future here so I need him to stay in touch with me lol. Keep grinding.

-B

Hello everyone, hope everyone had an awesome Thanksgiving. I’m very thankful for everything that I’ve learned from y’all!

My parents own a lake house that they see as simply just being a burden. There was talk in the family about selling it after we had an issue with the well system... but in general they are motivated sellers. I, however, think this place is a gold mine. It has a fantastic view and sleeps 10 people, all on an acre of lake front property. I’ve expressed interest to both of my parents as well as my other siblings as a buyer of the place and it was actually very well received. I’m the only family member that has any rental management experience, but this is a little different story than my typical small properties. 

Without going into super sensitive detail, I just cannot afford to put a normal 20% down payment on that house and I need a new solution. I’ve heard of installment land contracts and have been exploring that. However, I didn’t know the legality of renting out a property that I don’t have a title to (and yes my understanding of ILC’s is that the title isn’t fully transferred until after the debt is paid? Please correct me if I’m wrong!). For what I think this place would bring in annually, it looks like a great deal and I could start building generational wealth for my newborn. I just need to find that perfect arrangement. If you have any ideas or suggestions, or even criticisms in my thought process, I would love to hear them. 

Thanks, everyone. Happy Thanksgiving!

- B

Hello Everyone,

I’ll start by just saying thank you for any feedback that I can potentially get here. I have located a property that I think is worth a second look. The outside is ugly and will take some effort to make a solid rental, but any real problems are unknown to me. I would like to hear everyone’s idea of when or when not to request an inspection or timing of this. In short, I am nervous because I am not sure how to request an inspection without offering and what not. Thanks!

Hello everyone,

My name is Brian Bauk. I currently am taking real estate classes (total noob) and live in Boone, NC. I own a house here and have 3 tenants that are the only reason I can afford it. Recently, I’ve been hearing about the growth in one of our neighboring towns, West Jefferson, NC, and would like to hear any feedback on this deal. There has been properties going for dirt cheap (50-60k houses). This property, in particular, has a small house at about 750 sq ft, but is located on 96 acres of land that is listed at 550k. I’m confident that we could make a deal for under 500k with some effort, and I’m confident that this is a good deal. The highway going to W. Jefferson is being widened that has a bunch of real estate heads turning for potential growth. I have been in contact with a real estate paralegal that has said he has been doing deals on properties out there constantly and obviously I want in on this possible growth. My problem is that there is no way that I couldn’t personally afford it, and have no clue where to start on finding private money to do so. I just started reading Brandon Turner’s books. If anyone has any advice or interest in the deal, please reply back to me. Thanks!

Bauk