All Forum Posts by: Cody Campbell

I would do a modified B, Take out 300 in a HELOC and buy 3 properties (100k down on each and a note that is paid by the renters)

Getting the loan will primarily depend you and your credentials as opposed to the property itself. Best way to find out is to walk into a local bank where the property is and talk with them. 

Talk to different banks. Whats the purchase price? Can you add value to the property quickly? If so buy with a Hard Money Lend or someone else's money, rehab with that money as well then walk into a bank and refi. The rehab will get the appraisal up, hopefully (due your research) beyond your purchase and rehab and you could potentially get in it for zero money down. 

A total loss? Not necessarily. You can always get under the house, pour (haul in buckets of concrete) small footers and put a nice beam underneath. Is it easy, NO, a pain to do, YES, will it cost you, Yes. This could be a way to get the home at a drastic discount too. 

Everyone in my town thought this was a total loss. I gutted it from floor to ceiling...nothing is a complete loss...just needs more love. 

You can, check out my profile and the deals on there...all but the storage facility are no money down deals. You have to have access to cash to get the deal, but the key is refinance to pull your money back out. Ask the bank for a line of credit, find some investors who will gibe you a hard money lend. You do need "ACCESS" to cash but you don't have to have it to do deals.

Hope this helps

This will vary with every person you ask, but here are mine: 

"Rich Dad Poor Dad" 

"Richest man in Babylon" 

"Think and Grow Rich"

"Proverbs" in the Bible...a chapter a day (so much wisdom)

What you could do is find another hard money lender to loan you to purchase price, rehab with your buddies cash, and then you can refi as soon as your done...no waiting period because on paper you own it out right, and there aren't any other loans attached to the property. 

If your a first time home buyer, buy it in the traditional sense and possible only have to put 3-4% down, some places can do 0% down for first time home buyers. The logistics for this is tricky because the home is in your buddies name and not yours. Have a good contract with your pals first. 

Hope this helps

I have a designated account for my rentals, different properties. I run everything through rentechdirect.com and its a pretty good program. It keeps track of everything and which makes it easy at the end of the year for my accountant. 

I use several small tankless heaters in one house. I have used small tankless water heaters in the last 9 units I've done. The current house I'm using 2, one for the kitchen and one for the 2 bathrooms. The ones I use are all electric and self explanatory. I usually put them on the wall in the laundry room. Check out tankthetank.com to compare all of them. The small water heaters are around 250-400.

Hope this helps

@Marlen Weber I know small market deals are great for it, especially starting out...100k or less. I’m excited to hear about some large deals with no money down.