All Forum Posts by: Dewayne Reid

Skip to content

Quick search links

Find an Agent Find a Lender Hard Money Lenders Podcast Books

Pick markets

Market Finder - NEW PRO Picking a Market Workshop PRO Picking a Market Worksheet Top 100 Cash Flow Markets Market Insights - Sunbelt Region

Market finder

Pinpoint the best real estate market for your specific goals with expert recommendations and real-time data on appreciation, affordability, rent to price ratio, and more.

Find deals

On-Market Deal Finder - New PRO Off-Market Deal finding PRO Real Estate Syndications Investor-Friendly Agents Find Foreclosures Community Listings (FSBO) Business Directory

Deal finder

Quickly find your perfect investment property based on your cash flow and ROI goals.

Invelo - Off market deals

Scale your portfolio with off-market deals

Calculators

Rental Property Calculator PRO Rehab Estimator PRO Rent Estimator PRO BRRRR PRO Fix & Flip PRO Short-Term Rental PRO Sell vs. Keep PRO All Calculators

Rental property calculator

Is it a good deal? Run your numbers like a pro with this simple yet powerful calculator.

Run the Numbers

Rent estimator

Understand how much rental income you can expect based on recent reports and data for your specific property.

All Books

BLACK FRIDAY SALE Best Sellers Browse All New Books & Pre-Orders Bundle & Save Books for Beginners

Simplify your goals and find clarity for your investing

Dave Meyer's newest book gives a practical framework to craft and execute YOUR personalized real estate plan.

Claim your piece of a $30B industry.

Build wealth with this insider's guide to glamping, campgrounds, and RV parks in the outdoor hospitality industry.

Get Your Copy Now

Plans and Pricing

Pro Membership Business Membership

TRY PRO FOR 7 DAYS COMPLETELY FREE

Avoid mistakes and make informed decisions with Pro.

Start Free Trial

GROW YOUR BUSINESS

Promote your business on BiggerPockets and make quality connections with the right investors

Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.

x

Followed Discussions Followed Categories Followed People Followed Locations

All Forum Categories

All Forum Categories

Followed Discussions

Followed Categories

Followed People

Followed Locations

Market News & Data

Market Trends & Data

Buying & Selling Real Estate

Out of State Investing

Real Estate News & Current Events

Real Estate Technology

Investor Mindset

General Info

General Real Estate Investing

BiggerPockets Exclusive PRO Area

BPCON

New Member Introductions

Questions About BiggerPockets & Official Site Announcements

Off Topic

Starting Out

Real Estate Success Stories

Real Estate Horror Stories

Real Estate Strategies

House Hacking

BRRRR - Buy, Rehab, Rent, Refinance, Repeat

Commercial Real Estate Investing

Innovative Strategies

Mobile Home Park Investing

Multi-Family and Apartment Investing

Land & New Construction

Wholesaling

Rehabbing & House Flipping

Short-Term & Vacation Rental Discussions presented by

Tax Liens & Mortgage Notes

Medium-Term Rentals

Buying & Selling Small Businesses

Outdoor Hospitality

Landlording & Rental Properties

General Landlording & Rental Properties

Managing Your Property

Marketing Your Property

Tenant Screening

First-Time Home Buyer

Real Estate Professionals

Mortgage Brokers & Lenders

Contractors

Real Estate Agent

Financial, Tax, & Legal

Creative Real Estate Financing

Personal Finance

Insurance

Private Lending & Conventional Mortgage Advice

Tax, SDIRAs & Cost Segregation

Foreclosures

1031 Exchanges

Goals, Business Plans & Entities

Legal & Legislation

Real Estate Classifieds

Classifieds

Real Estate Events & Meetups

Reviews & Feedback

Ask About A Real Estate Company

Real Estate Deal Analysis & Advice

Guru, Book, & Course Reviews

Syndications & Passive Real Estate Investing

Dewayne Reid has started 2 posts and replied 10 times.

Quote from @Connor O'Brien:

I used Getinland for my hud203k in 2018. It’s been a while but if you can’t find any good ones I’m happy to share their contact

I recommend Getinland as well. They did our property last year.

1 Vote

Chicago, Illinois

I would join if you made one.

1 Vote

Chicago, Illinois

Quote from @Li Lu:

I recently closed a building with 24 residential units and it is more than 100 years old.

I have talked with a designer/architect about interior design.

His quotation is around 21k for all the units.

Is the quotation reasonable?

I remembered I saw one of the posts that said the budget is around $1000 for an apartment.

Please share your experience.

Much appreciated!

That sounds reasonable.

0 Votes

Chicago, Illinois

Originally posted by @Corey D. McCray:

Where

Just sent you a message.

0 Votes

Chicago, Illinois

I'm need of CMA for a property. If anyone would be so kind to help me run those numbers would be greatly appreciated.

0 Votes

Chicago, Illinois

Originally posted by @Shanina Butler:

I think you should go for it Kendra, Englewood is being gentrified by the millisecond...

I agree, Englewood is rapidly being gentrified.

2 Votes

Chicago, Illinois

The property is going through preforclosure. Just wants to get rid of the property ASAP.

0 Votes

Chicago, Illinois

Originally posted by @Jake Fugman:

@Dewayne Reid I would say that conventional is always the best if you can make it work. Understand that if this property is an investment only then you will likely need to put down at least 20% since you wont owner occupy. If you can find a way to remove the tenant and move in yourself for the first 12 months you can take advantage of FHA loans which cater to lower credit and allow 3-5% down. PM me if you want a few names of mortgage brokers. Good luck!

Thanks for the advise. I'll keep you in mind if I decide to go that route.

0 Votes

Chicago, Illinois

Hi All,

I just wanted to get some ideas on where I should be looking for a loan or hard money to purchase my first rental property. I've been wholesaling and closed a few deals, but I came across a property that is currently tenant occupied that is deeply discounted will have a large amount of equity right off the back. ARV is 138k , purchase price is 83k, and tenant pays $1250. The house is in great condition and only needs cosmetic work as it has been been well maintained. The current tenants have been there for over 10+ years.

I don't have great credit and it will be my first home purchase. Is hard money the way to go or should I be looking into a conventional loan?

Any advise is appreciated.

0 Votes

Chicago, Illinois

Congrats! The house came out amazing!

1 Vote