All Forum Posts by: Brian Ellwood

Are houses there cheap enough to work as rentals? Typically rent/all in price should be above 1% or .01. 

Are you going to renovate and sell or renovate and hold? 

Private/hard money will work for you as long as you are getting the deals at the right price so the amounts they will loan you will cover 100% of what you need. 

For example, if a lender will loan 80% of ARV, and ARV is 100K, and you can buy AND fix up the house for 80K total, the lender will give you every dollar you need to do the deal.

Do you foresee it being cheap enough to buy rentals out there (assuming rentals is what you're referring to)? I'm thinking, like most of the areas around Denver, the rent/price ratio will be way off. 

 What Robert said above - every strategy works IF you stick with it consistently for the long haul. I achieved financial freedom (passive income = expenses) with single family properties. There may have been an better/easier way, but I'm not worried about that because SF worked for me. So the answer is whichever strategy is most exciting to you, and whichever you feel like you can consistently take action on for at least the next few years or more. 

Better for what? 

Nachi.org is a site that lists Nachi certified inspectors in all areas, which I've found are the best ones. 

With a LOC, you basically have access to quick cash to take down a property, and rehab it (assuming the LOC is big enough), and then you can refinance and pay back the line, rinse and repeat.

I recently got approved on a 6 unit by Pinnacle Bank, worth giving them a shot. Also try Marshall Reddick, they're not a bank but a private lender fund. Done a bunch of deals with them. 

Hi Ken! Were you asking about how to build a team? I generally recommend just finding a good property manager and a few contractors that come recommended. This is assuming you've picked your market and narrowed in on the zips/neighborhoods you want to focus on. 

From there, you want to focus on LEAD GEN, because the name of the game right now is finding good deals, and you typically won't find them on the MLS and will have to do direct to seller marketing.