All Forum Posts by: Bryce Bunton

Hey Brandon, this is similar to my story. We bought our first one with 20% down, and it took a while for it to build back up, but as it did and we strengthened our relationship with our small local lender, we were able to get into our 2nd one with 10% down instead of 20, our cash flow improved significantly and the market moved up (good timing).

We then bought 6 the following 2 years, 3 of them with 10% down, then we sold our very first one, did a 1031 and was able to use all proceeds and original 20% to turn it into 3 more. We have new leases and moved rents up and starting next month our cash flow will have more than doubled from where we were 12 months ago. 

 We also now have equity from appreciation in those properties our lender will let us use as collateral against new purchases. Like many others have said, it’s not a get rich quick system, but with the right places and buying right, the opportunity is there with patience and time. We purchased our first in summer of 2016, we’re nervous and patient for a couple years and then got rolling in 2019 through 2021. Now our cash flow from property has doubled our income allowing us to keep scaling if we want. 

we are also being patient and picky on what we buy right now. Deals are much tighter and more competitive to get. Start networking in FB groups in the area you want and messaging PMs or owners trying to get places rented and see if they have anything that people are wanting to sell. I’ve had some luck doing that too. 
good luck

@David M. one is rented already and the other one will be rented once he finishes it in a few weeks. It might not get rented until May 1 as that is when the new leasing year starts in this town. 

I’m not familiar with the rules on flippers vs investors as i haven’t done any flips. Does that status change when it gets leased after an update? 

Lots of people willing to roll the dice that they won’t get audited right now too, 

@Jake Wiley thanks, I will do a little more digging into this see if anything will fit. Thanks, Bryce 

@David M. Yeah, both are complete flips, and the market we are in didn't really explode with appreciation until mid to late summer last year, kind of lagged most metropolitan areas, but it moved significantly since then. Seller has quite a bit of a gain, 100K+ and if it hits at the higher tax bracket, that's a big hit.  

Thanks @Lucas Miles, I like the lease option idea but not sure I want to delay the purchase with rates moving up between now and then. Not a deal breaker but something I want to keep in mind. 

Hi all,

I'm working on an offer for a package of 4 properties, a 4-plex, duplex, and 2 SFR. The seller is hesitant because the duplex and one of the single families will be short term capital gains and he isn't wanting to 1031 or take the tax hit as a short term.

We have a price agreed upon if I can help solve this for him. I’d like to figure out a creative way to structure a deal that would help him out and get me the properties. 

Is this a place where I could possibly use subject to? I’ve never done a subject to deal, but very intrigued by them. His notes and Loan payment would be significantly lower than what mine would be so, if I could take  over his payments that could be a win for me too. 

I’m open to other ideas also. One of the properties needs about 6 more months until it would be a a year of ownership for seller. 

Thanks in advance! Bryce 

Make sure you call it a 2nd home, not a vacation rental or investment property, your language matters. You should be able to purchase with 10% down. Gateway Mortgage does this with 10%, we are doing one with them in Orlando right now.  I originally worked with Jeff Chisum (tenpercentdown.com) but his team has now moved to Northpointe and they have lots of products too. I'd check them out for sure.  Good luck.

Much appreciated! I will dig in and check them out. Thanks 

Keep grinding doing your thing! Good luck!  

Did 20% down on the first one and then 10% on everything since then. Also I knew people in the bank personally, it’s been amazingly powerful for us to scale and only need 10% down to purchase. I’d bet others could develop this with smaller banks and developing a strong history with a property or two first.