All Forum Posts by: Greg Larson

Hey BP,

I'm considering pulling the trigger on a duplex in my area that's currently renting for $700/side. I believe it can rent for $1100/side and my agent thinks it could go for up to $1300/side.

If I paid $280k for it and then took the rents from $700/side to $1200/side, then refinanced it, do you think it would raise the property value all that much?

The cash flow at $1200/mo would be good, but I'm trying to see if there's a bigger play here where I could refi and leverage this duplex into a 5+ unit deal after just one year

(My loan for this property would be an FHA with 3.5% down)

Thanks in advance for your advice!

@Jonathan Klemm great idea on the fix & flip listing referrals. I hadn't thought about referring those, only the off-market leads I'm finding.

@Crystal Smith thanks for this feedback! Yes, any leads I send to another agent will be fully vetted by my team using the resources available to us in that state (basically everything besides MLS). ARV, estimated repairs, all of that would be included in a lead we send.

As far as exit strategy, what I was saying is I would be providing the agent another exit strategy they can use for unique situations where sellers have little to no equity and little to no cash reserves to where they can't sell on market (due to commissions, closing costs, etc) and they can't sell to another cash investor because the numbers don't line up. I would be the owner finance/subject to buy & hold investor that can take over the property, and all the responsibility, pay the agents commission, get the seller where they need to go, etc. Make it a win win for everybody.

Hi BP,

I'm a new creative finance investor who is looking to form relationships with agents in a few new markets.    I'm also a licensed realtor in Illinois and I've just started running a semi-automated lead gen system so I can find off-market investment deals for buy & hold.  My plan is to wholesale or refer any deals I find that won't work for me personally.

In the spirit of giving value before getting deals, I want to come up with a list of benefits that I can provide real estate agents if they were willing to be part of my team.

The main benefit I can think of would be referring them leads of qualified sellers who I speak with that want to sell but won't sell with creative finance or a cash offer.  I also have quite a bit of sales and marketing experience, so I could offer advice in those areas to agents if they ever needed help or suggestions.

The second benefit I can think of is allowing the agent to make a commission where they previously wouldn't have, i.e. if the seller can't sell on market for financial reasons but I am willing to pay over market value, or situations along those lines

Can anyone think of any other benefits that a creative finance investor in my situation can bring to a full-time real estate agent other than leads and another set of profitable exit strategies for their sellers?

Thanks in advance for any suggestions or advice!

Hey @Dean OMalley, congrats on this deal!  Out of curiosity, what type of return did you see in the first 12 months?

Hey Knoxville BP,

I'm brand new to Knoxville as of January 2022!  Looking for other real estate folks to network and grow with.

I'm still a licensed real estate agent in my home state (Illinois - license now in holding), but my main focus this year is investing in multifamily property here in East TN.

If anyone wants to connect and expand your network, shoot me a message and let's talk.

Otherwise, I'll be at the REI meetup at Barleys on 03/31.

Looking forward to meeting the Knox investor community!

Hey @Tucker Kincaid, I just moved to Knoxville in January as well and am looking for multifamily properties right now.  Let me know if you want to get on a call or meet up and connect next week.

@Andy Yong   Welcome! I just officially moved here in January of this year from Chicago.  Still loving the area after 2 months in, despite it being the "bad" time of year as far as weather goes. I'll take a TN winter over a Chicago winter any day haha.

I'm looking for multifamily properties right now but also looking for team members like RE attorneys, lenders, contractors, wholesalers, partner investors, etc.  

Let me know if you want to get on a call and connect, or grab a beer at one of the many awesome breweries here in town.  Maybe we will end up finding some deals for each other in the future.

Hi BP,

I'm looking for real estate attorneys, lenders/mortgage brokers, and contractors of all trades to add to my team.

The attorney and the mortgage broker I'm looking for should be experienced with real estate investing and creative finance strategies such as seller financing, subject to, wholesaling, etc.

Does anyone have recommendations for professionals in the Knoxville area?

(admins, please let me know if this post belongs in a different area)

@Remington Lyman are your VA's calling the off-market in hopes of setting you a listing appointment, or are you buying multifamily with help from the VA's?