All Forum Posts by: Dustin Tucker

If you aren't getting any traction, you are probably over priced, you may want to consider a Mid term Rental to the Snow Bird community.

Hello Faysal,

1st of all, I personally don't like option 1, not equity gain with your investment.

For your option 2, with your cash available position, I would see if I could talk the owner in to Owner financing the property for 12 months at 5%, with $100k down. The reason is that this is a complete buyer's market. That would leave you with $230k to do the renovation, and cut down your negative carry by 2/3. Also, after 6 months like you said, I believe you could easily get a cash out Refinance with a DSCR option that would be in the 5% rate as well.

If the owner is not interested in Owner Financing, as long as this a 1-4 unit complex, we could get you financed at 80% of purchase, 100% rehab at 11.25% Interest only, I may be able to go as high as 90% of the purchase, but I would need additional information.

Hello Thomas,

Were you involved with the creation of the fund you work at currently? How big was their 1st portfolio?

Thanks,

Hello Roel, how is your 2nd flip going?  I would be interested in connecting and collaborating.

Hello Jack, in Texas I find a lot of investors using the Subject 2 method, especially with FHA properties where they are at or under water on their mortgage, but most of the mortgage rates are under 4%.

Buying vacant land is always a good option, I would check on the rules for subdividing the land before purchase, and also find out how you can add additional income producing projects to your land. Such as storage, RV park, Mobile Home Park, etc.  You also have a small amount of ag use, but you would need to be the producer.

Hello Nate, have you completed any of the Bigger Pockets courses? You might want to check out a local real estate office and see if they need someone to do door hangers.  And while you are out doing door hanger, you can scout out vacant properties, and start your investing career with a wholesale.

If you want to be an investor, I would get my real estate license.

Hope this helps.

You might try apartments.com, Trulia, Homes.com, Redfin,  From a Real Estate Broker Perspective, Zillow generates 80% of all traffic at this point in time.

I don't believe that you can get a specific contingency on vacant space for CRE, but typical due diligence is 60-90 days with 1 or multiple 30 day extensions. Once you have the property under contract, go market to local businesses to find your replacement tenant. I know of investors who contracted on a 80% vacant property and leased over 50% of it during due diligence. As long as you are in your due diligence contingency you can back out with minimal expense.

Hello Lesley, Have you thought about using a DSCR loan to do a cash out or rate and term refinance to recoup the out of pocket money you have spent on the property. If I were you and could do a refinance and get all or most of my investment out of the property, I would hold on and wait for the market to come back next year.

You can get up to 80% LTV on a DSCR Refinance.

I assume you are using a Property Manager, I would take a little more control of my future tenants and call their previous landlord to see if they made any repairs to the property while they were there, how many time they were late on their rent, etc.