All Forum Posts by: Jordan Murrell

Cody, 

What a great idea that is. Essentially if I do this right, I could potentially pull all of my money out of the deal.

I haven't thought to go the Hard Money route. That would be a great way to close quickly and add value to the property through the rehab. I guess my next question would be... 

What hard money lenders would be happy with 2% flat fee?  

Hello friends,

I am looking to purchase my first investment property. Currently, I am living in Las Vegas and looking to purchase out of state. The deciding factor for investing out of state has been reading David Greene's Long-Distance Real Estate Investing. I have boots on the ground in Memphis and know that the market tends to cashflow well. 

The property is in Memphis TN located within a C class neighbourhood where the number's work for me and I feel comfortable investing. The property will need about $5000 in repairs. There is a current tenant month to month and paying below market rents which could be $675-$700. Comps in the area run about $55,000-$60,000. 

As a new investor, I would love to share for some feed back on what you think about the deal.

Thank you in advance!!

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*This link comes directly from our calculators, based on information input by the member who posted.

Good afternoon to you all,

I am living in the US now, down in sunny Las Vegas. My investment strategy is to BRRRR properties and my target market is out of state in Memphis TN. Listening to ample BP podcast's, BP Rookie podcast's and specifically reading David Greene's 'Long Distance Real Estate Investing' has really enlightened me to the necessary steps needed.

Through my limited amount of time living in the US, I haven't built substantial credit to get conventional lending. So to help this process, I have set up my credit card's automatic monthly payment's for my cell phone bill and spotify to have substantial credit history. That being said, my Canadian credit is great. 

I was wondering if there is a way to use my Canadian credit to get a loan for an investment property here in the US? How have you used your Canadian credit to fund your deals? Are there particular lender's that you may know that use this method?

Thank you for your help!

JM

I know I am late to the party... But this is incredible information. I will use this as soon as it comes time to screen tenants!

@Omar Merced

What an incredible idea. I suspect it shouldn’t be long to start seeing these pop up especially in the downtown Las Vegas area.

@Carolyn Blackburn

I agree. I am still in the market to purchase. Still viewing homes virtually (which presents challenges), nonetheless still looking to build my portfolio. Las Vegas is currently still looking like a great market considering everything that’s happening.

@Craig Curelop

Craig thank you so much for the insight. Currently educating myself in the realm of real estate. I have been listening to the bigger pockets podcasts and have just recently ordered multiple new books.

I will continue to use the forum so that I stay up to date.

As for real estate meet ups, I will definitely attend as many as possible once they start up. I hungry to learn and create the financial freedom for my life moving forward.

@Brad Bellstedt

Brad, thank you for the insight. I think it’ll be some time before 20% will be accumulated. House hacking seems the way to go.

Lots of lessons learned but the most important was you took your first step. Cash-flowed and learned a lot. Seems like a positive to me.