All Forum Posts by: Gregory McKinley

Hello BP,

I am getting into Multi-Family investing. I am looking to buy & hold some units (cash flow is king), wholesale some deals and find creative financing for the down payment of the buy & hold units. Any tips, advice and/or suggestions would be greatly appreciated with the below:

2.) Suggestions for finding private money for down payment purposes on buy & hold deals. 

@Gina Mondesir Hello, I've never done any tax lien/deed transactions myself, but I did take a mentor ship program specifically geared towards liens and deeds. Are you wanting to wholesale the deal, with the encumbrances still attached or are you going to pay off the liens so the deed becomes a warranty deed, then try to wholesale it?

Very inspirational story. Thanks for taking time out of your day to share. I really love how you have a blueprint so others can follow. I am sort of on a slightly similar path. My first rental was a turnkey property, btw I am very new at real estate investing and learning, barely 7 months in. I also acquired a 7 year mortgage note paying 12% per year. I am looking to get into multi family now to help me reach my internal goals. Thanks again for the inspirational mentorship in writing this blog post. 

@Mary Jay I believe it's gone now. Thanks for asking.

@Jason Bruning Thank you very much for your advice, I greatly appreciate it.

Here are some details I was able to acquire:I am looking at a buy&hold deal with having a PM manage this property after everything is said and done.

I would need to use leverage to acquire this deal, but not sure how to fa

Price, including closing costs: $160K (does not include lender's fee's)

Based on BPO: $4K

2017 Taxes paid: $790

Average Price Opinion between Trulia, Zillow, etc: roughly $155-160K

BPO for what it could sell for is: $190K

Average Rent Rates (based on rentometer): $1295 - would not be within the 1% rule, but would be about a 9% cap rate not including debt service and interest. 

Beds: 3/2

Crime: 2 out of 5 roughly

Schools: 5 out of 10

SqF: 1120

Year Built: 1971

Based on the above would you guys think this would be worth pursuing? Thanks

@Stone Jin Thank you for that advice, I will look into that.

Hello,

I would like to connect with someone, that I can meet with face to face from time to time to help me get my feet wet and analyze deals so I can become an expert at it. I am ready to start pulling the trigger and acquiring my buy&hold R.E. Would be honored if someone would like too connect over coffee or lunch (my treat) to discuss. 

Thanks,

Hello,

Does anyone have any suggestions on where to find a true mentor that will guide one through real estate education and deals, without having to pay $30K? 

Glad you have brought this up. I have been doing some research on Fund and Grow, Midwest Corporate Credit and Credit Suite. For me, thus far, I am thinking I may give Credit Suite a try. I haven't tried any of the credit places yet. Have you decided on any?