All Forum Posts by: Caleb Christopher

So it's just an arrangement individuals have with lenders to take a reduced fee. Got it (unless someone else chimes in with other info).

I've got one single family rental at this point. I'm seeking to either:
-build cash with a flip
-(preferably) do a BRRRR on a single family home
-acquire a 4-plex

So far, I'm solo. Have some capital saved and some potential private investors if I can show a complete plan.

You're quite a drive from me on the KS side, or I'd say we should meet up and look at finding a deal together.

I started searching for all-in-one loan, but that's a HELOC strategy and not what I'm talking about.

BRRRR: Is there a name for the type of loan where you get the rehab loan, then refinance upon appraisal? Or is this just a custom arrangement every time with lenders?
(And do you know lenders who do it?)

I know I've heard of some lenders agreeing to do the refinance quickly and accept reduced fees for the double transaction. This simplifies the process and number of people I have to find/involve, and dodges hard money.

I would say, if you've not started anything yet, you do need to analyze the heck out of a lot of potential deals. I'm no sales rep, but the calculators here are handy. If you want to build your own, go for it, but I spent about an hour and a half trying to do it and understand other peoples' spreadsheets and realized my time is worth more than that, so I went Pro.

@Shaun Keune Are you planning to self-fund? Have you got finances squared away? Either gather the cash, the investors, or the pre-approval, and start analyzing deals using the calculators. Do it again and again and again. And again.

Connect with one or more agents so when you have the funding and find a deal that looks right, you can put in an offer.

Find other investors in your area and ask to tag along on anything you can. Ask to see their work or hear their stories. People love to talk about themselves, so let them do it.

If you're a do-it-yourselfer, offer to help do some work with flippers and/or contractors to build relationships.

@James Hamling, I don't want you to think I'm being adversarial.

I did look. I've got above average Google-fu skills, and I did not find that from Kiyosaki. That's why I'm asking you to help me validate your statement --- you're claiming to "help the younger ego/arrogance wanna-b's" but I can't verify what you're saying.

I gave context of where I did know it from, and asked for your assistance. I asked because it seems contrary to what I know Kiyosaki did say, and I would like to understand the context of the sentiment if/when/where it was used.

Thanks for your time.

@AJ Shepard good insights. Thanks!

Keep it up. Good summary. Thanks for taking the time to do it. Are you seeing a difference on MO vs KS side, or were you only talking about the KC, MO side?

Nice to meet you. I'm on the KS side (Leavenworth county) with one single-family rental right now.

Curious: what's your reason for targeting a "specific area" of St Joe? Are you planning to self-manage?

I'm aware of that line with/from Warren Buffet, but I know I heard/read Kiyosaki say what I said above (never met a wealthy person who didn't lose money).

I can't find the "never lose money" thing from Kiyosaki anywhere.
Is that something you can find for us? I'd like to see the context.