All Forum Posts by: David Garner

Anyone still thinking that they are going to find profitable deals like duplexes, fourplexes, and good singles family home to rent at potentially 6% or 7% interest rates and current asking prices?

I'd like to propose a simple question. If you have the ability to source investment capital regularly at a realistic interest rate, let's say 7% APR. Is it wiser to borrow the money rather than 'earn' the money traditionally in which you pay 30% income, federal, state, etc. tax on? I realize this is a loaded question and want to keep it fairly surface level to invite as many opinions on this as possible!

 Thank you for the perspective check. I didn't even consider those when narrowing down which process I want to learn first.

@David Garner wow some areas of Sharon are rough. That is too bad. That is true that good deals are hard to come by. The seller must have remorse over going under under contract for so low of a price.

I have a potential partner that is going to be the lending partner. He has a total of 4 SFH and 2 commercial lots that are completely paid off, but under an LLC.

I'm looking for creative financing ideas on how to access the equity that the LLC has built up and use it to fund my own deals.

Hope that makes sense. Thanks in advance!!

 Thanks for your reply: I have some questions as I am trying to do the same

When you get a private lender, how much do you need as a down payment? Ho do you structure it, interest only? for how long? How much interest rate do you need to accept. Thanks for your knowledge

Private Lenders: I did some lending a couple years ago, usually getting a couple points and 10% interest. That was when inflation was 2% and conventional rates were 3-4%. Now planning to do some more lending (to local folks I have worked with in the past). 

Question: with inflation approaching 9% and mortgages approaching 6%, what are you private lenders getting for your money these days? Are we still in the 10% range?

So I have a great fix and flip deal under contract in a hot area in Pittsburgh. The contract states that we must obey municipal requirements to transfer the property at closing. The municipality required an occupancy inspection and they found some downspouts that need rerouted away from the sewer. The seller is unwilling to do the work or pay to have it changed. We got a quote for $1600 to remedy the issue. Should I force the seller to pay full, half, or jump ship and look for another deal?

Hi guys, I'm an agent in Indianapolis and honestly I'm pretty tired of helping OOS investors buy there own rentals. I'm starting my own business which will buy rentals / value add properties, and use other people's money to fund at a 10% interest. I'm mainly looking for any wisdom from others who have used promissory notes, secured by a property, and how they structured that. Do you do interest only payments? What happens when they want to pull all their money out? How often do you pay them interest? And, if I'm buying them with an LLC do you guys have experience getting a mortgage with an LLC?

I recently have went back to the very beginning of the Bigger Pockets podcasts. With all the information, I believe that I would like to start executing the BRRRR Method. So I was wondering if there are any big differences between the standard Fix & Flip method, compared to the BRRRR Method? Any information will be a great help.