All Forum Posts by: David Cornett

Looking for feedback on best allocation of capital. Goal is to grow the number of doors , for long term cashflow.

Currently have one cash flowing unit and a primary residence. (SFH)

Looking to deploy approximately $25,000 - $30,000.

Option A - renovate and upgrade current primary residence with roughly $15,000. (Although it’s in good condition and rent ready as is).

Take remaining capital and purchase another SFH to now live in, turning previous into rental.

Option B - investing all capital (including saving 3-5k for reserves) into a turnkey property out of state.

Option C - continue to analyze and save enough for a small multi-family property.

Additional info: I’m a W-2 worker , and law school student, free time is not something I have in abundance.

What would you do?

@Kevin H. Hope all is well. Did you end up making a purchase with Mid South?

@Julie Gates. Just sharing my own story here for a home we just bought in July. Same story, there were no offers on the home, when we put our offer in, the agent responded that they had 2 other offers as well. And they requested our highest and final offer. Ended up submitting a offer for just $1000 over asking and we won. Thr process didn’t feel right, but glad we got the home.

@Collin Schwartz This has been beaten to death in other posts, and I’ve done a ton of online searching and just straight cold calling banks. Are you familiar with any banks or lenders willing to do a HELOC on an investment property. I have a condo that has been a rental for the past 8 years, has performed well in downtown Chicago.

@Collin Schwartz. Congratulations and thanks for sharing. Any chance you can share the numbers on your first deal? How did you find it? What did you pay for it, how did you finance it? What you did specifically with that first property, etc.

@Ryan Fox Thank you for the update! Did you use a lender of your choice, or one recommended by GC? I’m assuming the numbers should be similar. Thank you so much for your response!

@Andrew Hargreave would love to hear an update. How have things been going? Can you share the inspectors info? I’m thinking of purchasing a Single Family from GC.

@Mike Thoeresz can you update us on how your property you bought through GC is doing? Do you bring your own financing to the table or did you go through their preferred lender?

@Ryan Fox do you still hold property with GC? I’m curious how those turnkey properties are going? What PART IF Chicago? Can you share or send me a message? I’m thinking of purchasing a single family through their turnkey program.

@Amy Yarnall I’ve been told it’s October 29th. But, if you bought the hard copy, it may take a few days to get to you.