All Forum Posts by: Jason Larson

@Derek Dombeck Would lenders be open to something like a 70% LTV with a 30% seller carry with the 30% being a 48-60 month balloon payment? Or what would be the minimum a lender would like to see from me in the deal? I have seller deals I could close today if I could stay below 5% out of pocket to maintain a decent reserve.

@Nina Granberry

1) You could have an agent send you the report since they are usually calling on the same list to help sell. I buy the list, there are several websites that provide owners name, phone number, mailing address.

2) A good way to start as a private money lender is learning to analyze deals and understanding what you can bring to the deal. If you have the cash to bring into a deal you can partner up with a deal finder that is handling the marketing and up front work.

3) I pay for coaching and a mastermind that focuses solely on creative financing with SFR. There are a lot of free content with books and podcasts/youtube.

@Adam Tafel I get a list of properties that Expire/Cancel on the MLS and call on those to see if they are open to creative financing.

@Kalvin Seidl I just got a $285k property under contract taking over the property Subject-To the existing mortgage. The property was purchased about 18 months ago on a FHA loan, so there was almost no equity in the property for the seller. My out of pocket costs will be the title transfer costs, and I have built in enough time before I close on the deal to place a tenant. There are plenty of people needing to get out of their property, just takes a little time to connect with the right ones.

@Tom Vanderlinden I would reach out to @Jordan Moorhead. He has helped a lot of investors like yourself get into their first duplex to house hack

@Reese P. Are you looking at a non-recourse loan titled in an LLC or some other entity? Some big banks require the 40% down but there are other options to get a 20% down loan for an LLC

@Kenneth Biason There is great Facebook group focusing on Turnkey Rental Properties. https://www.facebook.com/group... There is a great mix of people like you and I looking to get started, along with people with several deals under their belt.

@Sam Giberti You should read "The Go Giver" by Bob Burg. Its a pretty quick read and breaks your question down pretty well.

@Steven Lam There are some high quality turnkey providers that do the BRRRR for you. I would reach out to @Ali Boone, she and her team has been extremely helpful in this process for me.

Credit Unions are non-profits and usually need to qualify for membership which is where the (live, work, worship here) comes into play. CUs are formed for those connected to specific companies or city/county/state primarily.