All Forum Posts by: Gerald McCullough

Let’s say you found a deal like this for $20K 3BR / 2Ba 1100ft2 available now 3br 2ba available for CASH BUYERS. It is currently renting for $600 a month with a 5yr tenant. Only minor touch ups needed. In an area that houses are selling for well above $75k , but the only experience you have in real estate has been wholesaling and lease options. Would like to purchase as a buy and hold. How should you structure to get lender to fund deal for short term for 1yr ?

@Mohammad Haidarasl I would start sharpening my negotiation skills to better your chances in getting no interest seller financing

@Christine Kankowski can not leave out Mississippi lol

@Matt Shields thanks for your response! That helped out a lot. Did you raise money to start off with using the hard money lenders ( down payment) ?

@Matt Shields how did you initially build relationships or find this hard money lender ? Also could you give an example of some numbers of a deal you completed like this ?

@Jason Turo great question!!!

@Nick Britton thanks for your recommendation. Could you send that information to me as well ?

Hey BP friends ,

I got this investor who approached me with the chance to buy 2 properties. I'm gonna try to not bunch everything up so details below

4/3 sfr 

he's asking $120k which has lease option tenants paying $1450 per mon* $200 credit towards principle with one year left with the option to buy for $160k.

 7/5 sfr 

he's asking $150k also with a lease option tenant to buy in 1 year for $185k. House would appraise for $220k

How would you purchase this deal if you had no money ?

@Aaron Klatt what was your pivot moment in the real estate business ?

@Aaron Klatt yea I have a bit, but definitely could use more experience just getting into it going on 2 years.