All Forum Posts by: Jeffery McBride

Thanks @Tyler Thrush I'll give Terry a call.

Looking for a recommendation for an appraiser who can appraise a flip that I'm working on.

Thanks for your help,

@Andy W. and @Jonna Weber thanks for responding.  I will contact the people you mentioned in your response and hopefully we can find someone quickly.

I'm currently working on a high end flip in Boise and our contractor has had a medical issue that will prevent him from finishing the remodel.  Can you recommend a contractor that will be able to help us finish the job.

Thanks in advance for your help,

I talked to my lender today about a triplex I'm looking at and she told me that I would need at least 25% down.

Good luck with your duplex.

Thanks for the great advice.  This really helps me get started on the right foot. @Chris Clothier I'm in Dallas for the meet and greet.  Hopefully I can thank you in person.

I'm looking to purchase my first rental property through Memphis Invest and I've been working with their mortgage lender to get pre-approved. I found out that I can't qualify for a conventional mortgage due to a foreclosure in 2011. In March of 2018 I can qualify for a conventional mortgage or I can get qualified now for a bridge loan which has an interest rate of 7.375% and $7,000 closing costs with a 2 year prepayment penalty. My questions is, is it worth it to buy the property now using the more expensive bridge loan and refinance it in two years or use my downpayment money to payoff my remaining bad debt which is a HELOC (Interest @ 3.99%) and save up a new downpayment to purchase a property in March of 2018.

@Merritt Whitman Thanks for sharing your experience with Morris Invest.

I had my long awaited call this morning with Morris Invest. I talked to a guy named Dave who told me they buy SFH in B and C type neighborhoods in Marion County, IN. They buy 6-8 homes at a time for $20,000 and they put in about $20,000 for rehab. Properties rent for about $700 a month and give a COC of 15-20%. He said they have had very low vacancy with most renters signing 12 month to 24 month leases and they have had no evictions or late payments. They have very low inventory and only had one property that he could send me, a 2 bed 1 bath for $38,000. Anyway I enjoy listening to Clayton's podcast and because of him I found BP. I've decided to not purchase a property from them based on comments I've read here on the forums from @Jay Hinrichs and other posters.

@Tanya Smith & @Brady Lee thanks for the warm BP welcome. @Caleb Rigby thanks for the tip on using Estately. That is a great idea. @Stacey Mollinet I'm curious to get your perspective on buying investment property in Utah versus out of state. I'm wondering if I'll need to go the turnkey route to buy my first property.