All Forum Posts by: Dave Fulkerson

I'm researching Virtual Assistants and found www.propertymanagerassistant.com.  They sound pretty good and are geared toward property management.  The company is based out of Wisconsin and the VAs out of Philippines.  Has anyone ever used this company?

I recently started a YouTube interview podcast. Wanted to get some feedback from the community. This episode was geared toward entry level investing.  Its obviously nothing as good as the bigger pockets real estate podcast, but I try to make it a real conversation.

Marysue,

I have a few units down that way.  I'd be more than happy to discuss what I can assist with.

Who is taking care of them right now?

@Nate Heaps

We operate mostly in North St Louis County and Saint Charles County.

We are not opposed to going into South City, But currently we only have a few places down that way.

Feel free to give me a shout sometime, I’d be more and happy just to talk shop with you.

A little bit about me. I’ve been in the Marines for 18 years, mix of active duty and reserves. Bought my first rental in 2010, got my real estate license in 2013 and bought a property management company in late 2015This is when my life changed and I became exponentially happier.I don’t punch a time clock and I’ll never go back.Since 2015, we have been hovering at around 115-130 doors that we manage for investors, as well as my personal units.

Between last year and now, I have personally acquired an additional 10 doors through bank financing and owner financing.Through partnerships I’ve put together a few deals and have a 17 others (two duplexes, one 12 unit apartment, and one condo) .

I love the podcast and this community of investors.

Thanks,

Dave Fulkerson

What recommendations do folks have to build up a larger management portfolio.

I run a real estate brokerage and management company in the St Louis metro area.  We mainly focus on management, but do some regular real estate as well.

We take care of about 130 doors from investors both in the area and all around the country.  I recently hired someone to help and we would really like to start growing.

We can handle leasing, maintenance and anything else that rental properties can throw at us.

Does anyone have experience in this management portfolio growth arena?

Does anyone do a lot of business in the St. Louis area?

Thanks,

Dave Fulkerson

@Austin Ojimgba

I don’t think this property would meet the criteria for Freddie Mac because Be less than 1 million.

Feel free to direct message me if you’d like to Have a phone conversation.

Alina and Michael,

Great information.  I'm trying to get go through a Freddie Mac loan provider using the Target Affordable Housing (TAHX) Program.  

What kind of terms would a HML usually want. This may be a bridge to far for me right now.

My Name is Dave Fulkerson. 

I’m an investor out here in St Louis. I’m looking to get financing for an apartment complex that is currently listed at $925,000.  Talked to the agent and we should be able to get it for closer to $890,0000 - $900,000.  

It is 20 units, all 2 bedrooms and one bath, contracted with Sect 8 (HUD) and is 100% leased.

My experience in real estate covers all the areas that would make this a good fit for me.

I’m a licensed agent and run a property management / real estate company here in the St Louis Metro area.

I manage 130 plus single and multi family units in the area, as well as own several rental homes of my own.

I recently worked with two other investors and we financed a 12 unit complex.  

This property looks like a good investment.

I'm looking into the Freddie Mac Financing.  

Does anyone have a recent example of the loan rate and terms.  Talking to the loan officers so far, it looks like a 10 year term, amortized over 30 years.

I'm also looking for suggestions for the 20% down payment.  Looks like I need $180K.

I plan on contributing my real estate commission into the closing costs and down payment, but I'm still pretty short.  I'd like to bring on as few partners as possible.

Suggestions?

I’m excited for the next collapse when everything will go on sale again...haha.