All Forum Posts by: Hunter Jones

Well, I have a very limited supply of cash. I could do these 2 deals and be done for a year or so, or finance and go after more.

Good evening BP fam,

I have come across 2 deals in my area, both less than 100K combined. One will be a BRRRR and the other is a buy and hold rental near a college. I am looking at financing options so that I don't have to tie up my cash, and I really dont want to do one deal at a time with the bank, plus I would like faster funding.

Deal 1- BRRRR, 20K for the house, 12K for reno, 50K Value

Deal 2- Buy/Hold- 2/1 central heat and air....32K

I could pay cash, but why? What options are there to purchase both at one time rather than go the bank route?

@Zach Westerfield Thats EXACTLY what I needed to hear!!!! SO I DONT SUCK AT FINDING DEALS!! lol thanks Zach!

Yes, I have heard of the 2% rule, and I have seen only 1 property in my short stent that worked using the 2% rule....but MAN, the seller has to be desperate, right?I usually try to bundle properties together to get that deal but Im lucky to get 1.3 or even 1.....1.5 is a unicorn around here, Warner Robins, Ga.

What is a realistic, day to day target that has worked for you all?

Also, might I ask how realistic is the 2% rule? Because I have seen one before....but this deal isnt it.....as the deal stands now (1.3%), waiting on my counter .....1.8%.

So...I am looking at buying a SFH portfolio. What do I need to ask the seller for? I assume it would be the same questions as if I were buying only 1? Its just that 12 is a little bigger of an investment...I only have 2 rental properties to date, so this would obviously be my biggest purchase to date.....

My loan started at 20%, then the lender called me and said that due to a "new rule" investment properties had to have 25% down and some kind of fee included on top of that. I went from bringing $29,145 to closing to $40,000.....in one phone call......incredible

Good afternoon BP fam and Happy Mothers Day to the Moms!! I have a situational question....I have a closing on May 27th on a SF home in a decent area generating $250-$300 cash flow per month, my 15 day due diligence is up tomorrow at midnight. I say that because I have found a 14 unit package that gross $5600 per month for $200,000....I can put $60k down in cash currently...but if I back out of the SF home I can put down $100k on the 14 unit property. NOW, the 14 unit is in a low income area but has proven cash flow provided by the property manager. The SF home is in a good neighborhood where home values will increase over time, the 14 units likely will not, however, utilizing the 2% rule...its at a 2.8!!!!!And from what I understand the 2% rule is kinda for properties that likely will not appreciate much.

Now, I am new to real estate investing, proven by my previous post. The only cash flow I have currently is my regular job, and soon to be a condo I am about to rent out...

Keep moving on the SF home (40k due at closing) valued at 148K 16 year tenant that pays for all maintenance repairs? If so,

how can I get a loan for $140k for 7 duplex's? Hard money? Bank? I am pretty sure the property owner wants to move faster than a regular closing...kinda hinted that....

I need help/ideas....this could be a total game changer for me moving forward in my new investing career.

Good morning BP fam! I am not "new" to real-estate, but my only knowledge is from when my wife used to sell it as a realtor, not investing.

I have purchased a condo with cash, and will close on another property in 2 weeks, financing. The cash property was 75K and I feel like it would have been a better idea to finance it....and keep some cash on hand for another deal...however, I have good credit and a good paying job, but that will only allow me so many mortgages at a certain price point, or any price point for that matter, ex. the house that closes in 2 weeks ($129,000) I had to put down 25%, pay closing and pay some kind of fee (2.?%) for it being a second mortgage/investment property. Bringing $40k to closing..$871 mortgage and insurance, $1150 rent, tenant deals with all maintenance issues, she is a 16 year tenant. 

I feel like my best price point is 40-70K, financed if possible....more people available to rent @ 600-700 than 1150

I know there are pros and cons at a any price point.....but cash flowing +400/mo is always better than +150/200, in my eyes anyway. 

I REALLY suck at wording...so take it easy on me.

Thanks for knocking me off of the fence!! lol