All Forum Posts by: Ericka Luddy

@Scott Thompson I would suggest that you look into properties that do not have an HOA attached, for many of the reasons stated by previous comments in addition to the fact that the numbers will probably be a challenge with an HOA involved. My personal rental portfolio is primarily SFRs and some small multi-units that have no HOA. There are plenty of opportunities to that your upfront investment of $50-75K, flip a property using hard money to leverage and come out with double [or a significant earn] that, use the $100K to split a downpayment on 4-5 units or one small family that would get you a much larger monthly yield. Goodluck to you!

@Samuel Barton yes I am in Dallas! I've been running a couple deals thru REO realtors but the issue I've been running into is that they're wanting almost full ARV for a property that needs a good amount of work and similar issues where the deal doesn't make sense for me or for me to flip. If you have anyone I can connect with up here that may have a different angle I would certainly appreciate it.

My strategy of going directly to the banks was more so to get the really old houses that have been dying on the vine for 6+ months and be able to acquire those, from the smaller banks especially.

The penalty is generally imposed by the bank, I would ask to see specific terms from the bank prior to accepting the deal [you'll want this during your option period] If you're trying to flip it will be an issue, if you're trying to use as buy&hold it won't matter much

Hi all- I have a list I've cultivated for smaller banks who have REOs on their books and wanted to see if anyone has a good script or email blurb they've seen success with in reaching out to these banks?

Thank you!

@Chris Jackson thanks! I'll look into them

@Shawn Ackerman I'm in TX and that is available public information but I haven't been able to find groups, if I have an address it'll pull up just the owner.  I am able to reverse search and see if that owner has a bunch of properties but I guess my biggest question is if there is a quicker way to find property owners that have multiple properties.  Thank you!

Hi All,

Does anyone have insight on the best way to course SFH portfolios? I've come across a few on referrals/networking sites and have had good success getting them sold, now I'm wanting to focus my energy on sourcing these types of leads/deals. Not sure that a traditional mailing campaign will work and wanted to see if there are some different ways to go about finding opportunity.

1000 SFRs is a great goal to have but I would suggest buying in bulk portfolios like @markallen suggested, much easier to negotiate purchase price and some of the legwork will be done for you [having property management in place, current tenants, etc] you may also find it easier to get commercial loans on an established portfolio.  I have a great lender for commercial loans if you ever need a referral!  Goodluck to you!

Hi All,

Does anyone have suggestions for sourcing SFR Portfolios for sale? I've stumbled across a few that were for sale and done well liquidating them for the owners but I'm not sure the best way to look for potential SFR Portfolio sellers. Any help would be appreciated!

Anthony Geren if you're looking for money for rehab or new construction let me know/ I have a good working relationship with Streamline Funding (hard money lender out of ATX). They're incredibly deal-friendly and I have yet to see any other HML beat their rates.