All Forum Posts by: Cory Spitznagel

@Nicole Heasley you could try to instead find a real estate deal/deals that cash flows you the amount of the new car payment? Sorry if this has already been mentioned!

Jay Hinrichs thanks for the advice! Maybe I’ll just see if I can get private loans for the down payment first and then worry about proceeding.

Matt Hoyt Anthony Dooley sorry I should have mentioned I would be an owner occupant and live in one unit. Also I’m more wanting to know if there is any good way to approach maybe a private investor for something like this or if traditional loans would be best bc I’d be able to take advantage of the 3.5% down payment. I don’t have the $42k down payment liquid right now though as a good amount of my savings are tied up in stocks. So was hoping there was possibly some creative ways to get this deal done

Hello all! I found a 4 family in a very upscale part of St Louis and they are wanting $1.2 million for it. Any advice for acquiring loans of this size would be very helpful. I make $85k a year salary and have a good credit score. I’d love to land this building but don’t know how to even approach something of this magnitude. Any advice is well appreciated!

Thanks Alex Deacon I sent you a request and a message!

Hello all! I'm looking for advice on finding private lending for buy and hold deals! I work out of town about 90% of the time and am working 80-90 hours a week usually when I am gone so it's tough to create good relationships with possible investors/mentors. I have a good amount of money saved and can dip into it if possible but I'd really love to start acquiring properties using the "OPM" method. This current deal I am wanting to do has instant equity and will cash flow great I just don't know where to look for lending outside of traditional methods that will require 20% down and a plethora of paperwork and time. Any advice would be truly appreciated!

Sorry everyone should of clarified! I will be doing an FHA loan for my personal residence duplex I was just mentioning that it was going to be my first for sure real estate deal that I do within the year. I am wanting to use BRRRR strictly for fix and hold rental properties afterwards.

Antoine Martel, Thanks for the info! I am looking to invest in STL! I'll shoot you a message and maybe we an chat more about your STL investing experience.

Hello all, I have been researching REI the past year and have yet to make my first deal. The first plan is to buy a duplex (I rent a 600 sq ft condo now for $900 a month 😒🔫) and house hack. I have a good amount of savings. My question is really just how the hard money lending works for brrrr? Is it even a good means of financing? Mainly I want to know if you have to make monthly payments while rehabbing the home and until it's sold or do you just incur interest all along and owe it after the home is sold? I want to make my first deal soon but just want a better understanding. Thank you!

That was the other option I was looking at! Sorry that question sounded silly now that I read it again haha. I didn't mean to focus so much on the FHA aspect of it. I am also willing to get a traditional loan with 20% down