All Forum Posts by: Amberle Farthing

It's a little tight if you ask me. With the Purchase price and down payment your in 44k then add on the repairs (which before you put this under contract you should get a couple bids from local contractors) that puts you at 52k assuming everything goes super smoothly (which is hardly ever the case) then if the area is depreciating every year that ARV is decreasing while how much you've put into it isn't. Also what are the terms as far as % and # of years they will finance you for?

I would try to get it under contract applying the 5k to the purchase price making it 32k and then every month that is paid on time a predetermined amount is credited to the purchase price no matter how small, it will add up. You never know until you ask! Feel free to message me with the answers to those questions and i'll help where I can!

Partner with a "boots on the ground" fellow investor who needs what you have and offer a partnership. Do research on which area you want to invest in and make contact with investors who live their. They can provide the deals and you can provide the capital. 

New technology has made it incredibly easy to invest out of state and out of country. If you need any ideas feel free to message me. I invest out of state using a variety of tools that are rather inexpensive in the grand scheme of things. 

Hello all! 

I am a Hampton Roads Real Estate Investor looking to expand to Lynchburg, VA. I need power team members there to be successful obviously so, does anyone from the Lynchburg, VA area recommend any specific investor-friendly:

Realtors

Closing Agent (must be familiar with double closing and transaction funding)

Contractor 

Property Managers

Lenders

Sign Company

Thank you so much for your help! 

It's the same process with cash buyers except takes longer because now you're dealing with the bank. If you find yourself having to take title for the deal to go through you can get transactional funding which covers you for a super short amount of time (varies company to company). That would give you the money to be able to take title and then double close to your end buyer. One of the benefits of double closing is that it keeps the end buyer from seeing how much you made on the deal. You just need to find an investor friendly closing agent who is familiar with double closing and transactional funding. Just an alternative to assigning. Recap: -Get property under contract like normal -Prelim title search -Start marketing to find an end buyer -Find an end buyer -Sign a separate purchase contract where you are the seller and end buyer is the buyer as opposed to assignment contract -Closing day: -end buyer comes in first with funds - closing agent contacts transactional funding company letting them know the money has arrived An investor friendly closing agent should be able to help you through this process. Hope this helped!

Recent update -- decided to use Michael Hamar from LT Caplan he is wonderful and does everything you may need like double closings which is hard to find from title companies around here. 

Thanks @Bryce Kemmerer for that referral he has been amazing!

Yes I will be there. See you there!

Hey Kenny I'm pretty new myself but I have a lot of good information if you wanted to get together.

Hey @Dan Gongora welcome to BP! It was a great idea signing up, I have learned so much, from the podcasts to blogs to forums. It has really helped my business and allowed me to meet real estate professionals that I probably never would have. Good Luck on your journey to financial freedom. I wish you the best!

I agree with Chris in addition to attending local Investor meetings and telling people what you said above. I'm sure if you do it enough you'll click with someone. If I've learned anything it's that networking is almost essential!

Originally posted by @Katie Brewer:

Aw man.. the link doesnt work. :( Anyone have anything on this?

 I was looking for it as well, did anyone find it?