All Forum Posts by: Brian Turnbough

The couple on that show are both real estate agents so they do have an advantage. The only difference between off market and on market is that the seller hasn't advertised it yet. If you want to buy an off market property, I would suggest making yourself known to the agents in the area that you want to buy. Also, you could send out yellow letters. But I would use the networking approach first. It doesn't cost you anything to introduce yourself to people.

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If it were me, I would flip the property without replacing the roof. Unless it failed inspection. You need to get capital so you can move on to the next property.

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I have an executed contract on two houses. One is to hold and the other is for flip. I made an offer on the hold property with a contingency that I can purchase the other property. The seller said that they would let me have the second property because it was used as a shed for the first property. It is a 1000 sqft house. Thought I would share.

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Are you wanting to state that in your ad? If not, what difference does it make. If the Vet comes in and on your application he shows military history then just give the deduction that you want to give. (Not a lawyer) I believe the fair housing act states you can't discriminate against a certain group but offering a discount shouldn't apply.

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Originally posted by @Missy H.:

@Brian Turnbough

That is great. What was the average cost per house and the total loan amount? Just curious. I really never thought about a commercial bank loan for my investments, but it does sound like a feasible option.

The average was 70k. I am offering on 300k hoping to get them all.

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Originally posted by @Missy H.:

@Brian Turnbough

Sorry, forgot to mention you above.

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70k with funds for repairs. 15 year fixed at 4.6%. I didn't realize that type of loan existed until I listened to that podcast you mentioned. The loan officer said I could do 1 or 100 properties in one loan. He also said that there was no limit with this loan like a traditional conventional loan.

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Originally posted by @Cailyn Aune:

@Steve Vaughan- Thanks for the specifics on how to use the CL ads. I can totally do that! :o) I have looked up owners of addresses on the county assessors site, so I am already familiar with that, and you're right- not hard. So when you say to avoid the "wholesalers"- you mean people responding to my ad who are trying to pitch their wholesale deals?

@Brian Turnbough- Okay, this makes the most sense to me so far. I can do that. :o) Sometimes when people list a billion things to do that you need to figure out- it definitely leaves you feeling a bit lost. Great questions on how to find a contractor... I'm going to do that with my hometown, too- definitely! Good to know regarding your wife... it is a bit intimidating! I'm encouraged by this, thank you Brian!

@Alex Franks- Thank you Alex... this is a lot along the line of what Brian (above) was saying. Like I mentioned, this gives me a path for my own local market as well, which we are not opposesd to, just still not sure how to make numbers work. Having a trustworthy contractor is a huge piece in my mind. Thank you for the reminder on staying away from lower-end investments... I have seen this mentioned mutliple times, and when you read it again- it confirms what others are saying. I appreciate it!

So, how is the research going? Have you been able to find any good contractors in your area yet?

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Originally posted by @Missy H.:

Hi @Brian Turnbough

I recently heard a podcast where an investor used one commercial loan to close on several properties. I think it was Anca Rader - but don't quote me. I seem to remember that these were all under $50k each and she had done business with the bank before so they already had a relationship. You may want to listen to it to find out more. I can't swear that it was Anca but the podcast was somewhere between #120 - #135 and it was a female guest.

Hope it helps.

Thanks. Since I posted I have talked to a local bank and have been approved for the properties in a commercial bulk loan.

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Renters are so lazy! When they decide they don't want something anymore they just leave it behind. Make sure to charge double for clean up.

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All Forum Posts by: Brian Turnbough

Brian Turnbough has started 7 posts and replied 139 times.

Post: Properties off the market

Post: Would you flip this property or rent it out?

Post: Buy one get one free

Post: Can I offer a military discount?

Post: Multi SFRs in one deal

Post: Multi SFRs in one deal

Post: Multi SFRs in one deal

Post: Alternatives to Turnkey Investing?

Post: Multi SFRs in one deal

Post: Tenant Leaving 3 days after the end of the month