All Forum Posts by: Lee Haskins

Know your rates. Start talking to some lenders to get an idea of your terms. I am assuming since your going for an LLC, you will be looking for commercial financing; you want to make sure you will qualify going that route as well.

Don't let that hold you up, courtesy of NIKE "Just Do It"

Good Luck!

@Rocky Griffin said it best.

That is the way I started. Had about the same amount of cash ready to invest. I used it to buy a SFR at 55k. All in at 69k and refinanced for $70,600. It's nice getting all your money back for the next deal.

The only downside to that, if another deal comes along, you have to look into alternative financing to get it.

Start reaching out to your local banks and  establishing some relationships so you know there guidelines. You want to be able to know your terms ahead of time and their process so you have a good timeline of when you start your cash out refinance.

Good luck!

I did a google search for all the local banks in my area and sent emails to everyone explaining what I wanted to do (BRRRR), with a little more detail, and waited for responses to see if any of the lenders had interest in my plans.

I would recommend to just start reaching out and explaining your path. Some will come back and offer their own criteria but there will be a few lenders that can offer you referrals to others in the business that can help you reach your goals.

Best of luck!

I have not, but I will give you a tip. The base post office has a community board and it has high volume going in and out.

I am not positive on how Tinker has their mail set up but when I was in the military all the airmen in the dorms had PO boxes in the post office on base to check mail.

These will be the people that are trying to get off base due to rank or overcrowding in the dorms. Along with airmen in the dorms, families that live in base housing that want to move off base.

If your looking for civilian employees to fill your units, they have community boards pretty much in every building on base. Getting someone to go around and post them all over bldg 3001, the mile long building, would be a good start.

I need to make out to another one of these. Time schedule makes it difficult, might have to play Hookie this month.

I highly recommend Casey Gray. I have personally used him. His expertise in real estate investing and real estate law is exceptional. He is quick to respond and has solutions to better protect you and your investments.

I just sat down with an attorney 3 days ago to go through legalities and risk associated with seller financing and lease options(in Oklahoma/County). According to the attorney, regardless of what direction you choose to sell, lease option or seller financing, if the end buyer challenges the equitable interest in the property it will be handled as a foreclosure rather than an eviction. 

Basically he said when pursuing these options, it comes down to your risk factor and what you are comfortable with, if any issues do come from it. If you choose to go the route of seller financing, I would highly recommend having a local attorney draft your contracts and do them through your LLC versus your personal name.

@Ricardo Rosales,

Did you ever receive any information for a good title company for this? I am working a lead and wanted to start getting my ducks in a row for the same purpose.

@Brett Goldsmith

Thank you for the advice. I will pass that info on to my realtor and see what happens. I also sent her a link to your website to see if she can find some useful information to help out the situation.

I am not one to give up so I am hoping I can maneuver this to work. I am re submitting a new offer with no inspection period and bring offer up to 40k to test their response