All Forum Posts by: Jeff McCaskey

Brian,

Were you thinking you could get near 110K since it will be owner financed by you?? That might be appealing to some people - to be able to buy and not have to qualify with a bank. It might be worth the extra 10K over your BPO. 

I would say that if you can get this done without putting yourself in a pinch financially then do it as long as the numbers work out. I bought a house owner carry a few years back and knew it was a break even deal but it would develop equity as I paid down the note and appreciate as I fixed it up over time. I bought it for 21K, its probably worth 28K now and I owe 14.9K on it. Like I said, that is a break even deal but it still doesn't sound to bad or look bad on paper does it. I will have a balloon pymt later this year and will be able to upgrade a few things and pay myself a "fee" also. I just had to wait a few years for it.

However, even though I'm not all that familiar with the FT Worth market etc etc I would say that if you can't comfortably get this deal done then there are tons of other deals out there, probably by the hundreds, so if it won't work out just let it go and go find a GOOD deal. 

If you have questions drop me a line. No big deal. Ill get to ya when I can man.

Good luck!

Ha ha thanks Larry, I just watched the pod cast 108 last night with "his name is on the tip of my tongue" so I'm not quite feeling like such a "PRO" today lol. But thanks man, I've done pretty much all the mechanical stuff you can do to a house other than build one. I've faced most sides of the management mountain too. It's time for me to roll in the private money and get some bigger pants!!!! hey if you get time drop me a line and let me know what's going on with you out west.....

Brian,

I have considered Ft Worth as a potential market to enter in the future. I would be looking for a discount on the property since its an investment.......

I would want to know:

What is the market value of the property - not just the list price?

What are the comps and since youre a novice - where did you get the comps? (zillow isnt trustworthy)

What is the cond of the property (so what rehab costs are required)?

What will it rent for monthly?

What are the terms of the seller financing?

Do you have pictures available?

Why are they selling the property?

Are they leaving appliances etc etc?

*** Hope that helps. I cant get into that market right now since i have other things going on at the moment.

Hey Dave! Thanks

Thanks Joe!! Best of luck to you out on the coast!

HI Mary, welcome to BP!! Good luck investing. Hollar if you get in to deep.

Jeff

Hello, I'm Jeff McCaskey from Pratt Kansas and I am looking for individuals or groups who are interested in lending private money for short term (flip) and possibly longer term (finance) opportunities. I am not a newbie and take my investing very seriously.

I currently have a flip project I'm working on and need some additional money to finish and get it sold. I specifically would need about $15,000 - $20,000 for 3-5 months on this project and would pay a 10% on principle return. I am half finished with the project so I already have about $23,000 of my own cash in the game. I purchased this 4/2 2000 sqft home for 12,000$ and its ARV is $75,000+.

I need to get past this current project and will then have access to a significant LOC of my own, so to anyone who is interested I would greatly appreciate working together over the next few months.

I also have other project opportunities in the "pipeline" if you will, and would like to partner with private lenders on some of those as well.

Thanks for your time,

Jeff

Hello BP community, I just wanted to do my introduction after signing up. My name is Jeff McCaskey and I signed up as a "pro" member just a couple days ago. I've spent many hours on YouTube watching the pod casts and decided last week I needed to sign up, mostly prompted by the access to the calculators and pdf file tools. I needed them quickly to provide a private lender with a professional deal presentation though I know there is a lot more value to this site.

I am from Pratt KS and have been investing for about 5 years now. I have certainly faced a number of challenges along the way but its always fun to accomplish something. I have 7 properties and 13 units. I started with 36 cents and serious determination. I'm at a point now where I am looking for private lenders to work with to speed up and build my business. I am sure there are many new people to REI here, and I would'nt mind if anyone has any questions, I certainly have a lot of experience at this point. I own SFR, multi-unit property as well as some land so I have somewhat of a broad base I suppose.

Looking forward to being involved in the community, good luck to everybody!!!

Jeff