All Forum Posts by: Charvick White

I've found a few good deals that offer owner financing but I still feel stuck.  How do I get over the hurdle of coming up with the large down payment. 10%, 15% and 20% are really large numbers when we are talking a half a million or more. Can anyone tell me how they have achieved this, I know partners are the obvious option, but I feel once I start the negotiations the clock starts...... Right?

Great information @Brandon Hall.

Thanks 

@Jared S.

I'm guessing your strategy is to house hack while rehabbing to take advantage of the tax breaks, down payment requirement and make a profit by forced appreciation. So I would look at buying a house the same way I would a regular flip. I suggest running the numbers in the flipping calculator and having a good knowledge base on estimating repair cost.  Regarding where to buy there is no one answer because each investor wants different things, the safest bet is to always buy the worst house in a A or B area. 

@Christian Benitez I am closing on a duplex in Tallahassee next week and house hacking it as well. I suggest you do as @Adrian Smude instructed and talk to a couple of lenders to make sure the info you have received is correct and you will qualify for the loan that works best for you. Secondly make sure you consider the other cost like the inspections, closing cost and appraisals. Also some expenses regarding MFH are more expensive then SFH.

@Buck Savage Thanks 

Welcome and good luck.

Congratulations and just out of curiosity how do you find your other deals?

This does not look like a good idea from the numbers. You're not covering your expenses with the avg. rent in your area and you are not accounting for the hold time, unexpected repairs cap ex, ect. I strongly suggest figuring out what you want your rent rate to be, bare minimum at 1% but 2% is ideal. Use the BP rental calculator it makes this easier to see; at least to me.

Hey Joel,

Congrats on your first rental, like you I'm just acquiring my first rental so I wish you luck and this site as a tons of useful tools and info. 

I was wondering if anyone can offer any advice on utilizing the County official foreclose sale. I've seen some good deals but I don't have any knowledge or experience with it.