All Forum Posts by: Daniel Wheeler

Equity partner on the front side, hold for 12 months, hopefully that gives you enough cash to do an interest only refi with a 5 year call, hopefully that gives you around a 40% downpayment, and refinance to a conventional. Seems a bit convoluted, but it's how I may approach a stabilized prime location class A in south Texas should the opportunity present itself.

I'm overseas and looked at my San Antonio SFRH today... ouch. I've had the same rental rate on the house for two years. It may be time for a raise on the next lease.

In 2013 when I bought this house I had an entire selection of prime target rentals I could buy at 120kish less than 10 years old etc...

Just looked at the listing for the city and there is 1 I would buy and rent out.

County records lists them as loan mods. The note is held with a decently sized state bank. I think the original note included seller financing with the intent to take out the seller at the 90 day mark with a refinance. For whatever reason that didn't happen I'll see what else I can find out Thanks for the response!

That's the next thing! Getting the website up and running as well.

Mods: I definitely don't live in Manila, but I'm unable to change the Zip code inside of a month...

San Antonio Texas would be a better location description.

Longtime lurker first time poster...

- Originally from Texas

- The general strategy, in brief,  is to accumulate a portfolio of small businesses and real estate with operations capable of servicing their own debt load, consolidate, pay down debt, rinse and repeat.

- I've done personal deals but only recently have taken the leap of starting my own company and moving to make this a full time thing.

- Target primary market is Texas and specific areas in the mountain west.

- What else would you guys like to know?

Question for the Guru's...

I am doing a deep dive on a property that looks viable at a given price point.

While searching the county records I noticed the current seller has done a loan modification every year since the purchase of the property after purchasing with a very short term (90 day) original loan.

The loan was between $1-3M...

Why would a buyer go into that scenario?

I'm attempting to back into how much may be left on the note, but the above is a curveball.