All Forum Posts by: Christine Glasner

 Thanks for the insight. I have worked with one private lender so far. It went well and he ready to do another deal with me. Guess I should ask if he is interested in being an equity partner and not just a lender. :) 

@Luke Tetreault Even if they haven't stated a cap rate, you can calculate the cap rate if have both the NOI and purchase price.
Ex. If the NOI is $30k and they are asking $600k for the property. Divide 30k/60k = 0.05 --> 5% cap rate. 
Hope that helps.

Hi Fernando. Thanks for posting. I am just starting to look out of state to invest. I live in NC and I am looking at Cleveland, OH and surrounding areas. I was given a lead on 6-unit building that looks very promising. An agent has put me in contact with a broker with a DSCR program where they can roll the rehab cost into the loan, basically skipping the hard money loan part in the beginning. I don't have enough for the 25% down, so need to raise money (about $80k). I would like refi the property after 3-5yrs and keep it instead of selling it. As you are looking into getting into larger properties, any suggestions as how to structure with lending or equity partners would be greatly appreciated. Thanks.

Hi Bryan and welcome.  

My husband are have only done buy & hold so far in Statesville area.  Best of luck to you!

Thanks for the info!

Owner has so far been MIA

Hi Everyone,

Thank you for taking the time to answer this.  I have found a property that I believe has the potential to be a good flip.  The property has been vacant for 5 years. I have found blog posts from neighbors complaining about the property, that it has been foreclosed on, is an eyesore, vacant, etc.  However, I can not find any records of which bank holds the property.  The county tax records still list the original owner who no longer lives there.  Is there a way to find this information without paying for a title search?

Thanks again

Great! I will be there.

HI guys,

Thanks for the warm welcome.

- Matt, how far is Woodleaf from Statesville?

- Sheila, so good to hear from you! Congrats on being President.  My husband works a rotating night shift, not sure if he'll be able to make the meeting, but I would love to attend.  Where will it be and what time?

- Terrance, We've identified a house that could be a flip.  However, we accumulated the rentals more quickly than we anticipated and do not currently have the cash or equity to fund a flip.  We are a little hesitant to try hard money lenders.  I would love to step away from my J.O.B. and do this full time.

Hi Everyone,

We're not really new, but we have been MIA for about 2 years.  My name is Christine and my husband is Thom.  I first want to apologize to those who tried to contact us for colleague requests or other questions and we did not get back them.

About 2 years ago we posted about a truck that ran into one of our rental properties.  Long story short, the insurance company cashed us out on the property.  With the money we were able to buy our own personal property at an estate auction.  We bought a 3/2 on 1 acre for $28,000.  We are very happy with it though still working on making it our dream house.  

So now we have 8 rental units in the Statesville, NC area.  We have definitely had a very busy two years.  Originally my husband wanted us to have 10 rentals before we did our first flip.  I think he's decided now that 8 is plenty. We don't have a property manager and we both work full time jobs. I look forward to reconnecting with people and building relationships that will benefit us all.