All Forum Posts by: James B.

Hello @Patrick Bingham Jr.

I've PM'd you thanks

Thank you @Simmy Ahluwalia

I will PM you to discuss

We own SFR's in both the wonderful Indy and Memphis markets, and have been operating there for a couple of years with great property managers.

In 2018 I want to change my strategy to the BRRR method and am looking for a lender that does this strategy.

We'd Buy and rehab with cash- tenant it ad then need to cash out refi.

Please PM me and I'd love to chat- thanks!

@Ryan O'Donnell

I’ve had the experience of rehab costs overrunning the budget-not fun in terms of money and time.

Although many people on this site poo-poo turnkey properties, one big benefit to them is you purchase a finished product with all-in price. 

Just make sure prior to any purchase that you throughly vet any provider that you deal with!

@Tom J.

Hi Tom, if you want leverage (financing) some lenders do loan on properties sub $50-$60k.

I prefer financing, as it increases your cash on cash return, and I like to carry mortgages (especially at today’s low rates) because I like loan balances that my wonderful tenants pay down ;)

@Benjamin Centeio @Justin Sheley

I’ve been thinking about this strategy.

Is the analogy like borrowing to finance college? 

So you obtain money now, promise repayment, hoping that future earnings will more than make up for it?

Good to go if all goes well, but if not then interest compounds against you?

Keep us posted-thanks 

I just listened to two podcasts (Kiyosaki and Get Rich Education) that featured Clayton Morris. He must be advertising.

Anybody have any updates for this thread? Seems like lack of communication is the theme here (that would drive me crazy as I tend to over communicate with my TK folks in Memphis:))

In today’s age of cell, email, video there’s no reason not to have all the info you request and require...

I like their Podcast. Not a member, but I like to listen to Del and Steve's mindset.

Hi @Will Barnard

That's a good question. I'm open to considering any investment opportunity, and changing strategies.

The reason I currently like the SFR is because I can save the 20-25% down reasonably quickly and secure the cash flowing asset, while the barrier to entry with some syndicates requires a lot more capital and for me to be an Accredited Investor (which I'm working towards becoming).

We have purchased 7 SFR's in almost 3 years with MCF. Obviously been happy. Sorry about your experience @Linda Hastings

I agree with @Will Barnard- go out to meet and scrutinize anyone you purchase properties from- also all TK (and businesses for that matter) are in it to make money. TK are priced at retail, but what's your time worth? I work more than a full-time job, so with MCF, earning a 9-12% coc return has been nice.

I manage my own expectations, and my managers at MMGT- we communicate regularly and know what each other brings to the table.