All Forum Posts by: John Gaber

Fair another and that's what it's sounding like the more research I do.  I guess I'm just at a loss on where to find lenders or partners willing to assist with the down payment and I can pay them their money back plus extra for helping me get into the home.   I'm currently saving to by my next home but reading through the posts and listening to the pod casts most of what I've seen is flipping a house and gaining a lot of money from that to inject in buying other houses.   Is this the only way to do it besides just saving from a full time job for the next house purchase?  

I'm not sure I follow, I can't get money from a HML to pay for a down payment? I do have HELOC's on my rental and my current home but I haven't touched them yet. I was using those as a reserve.

Yeah that makes since,  I guess I'm looking for how to start that relationship.   I guess I will just reach out to the various hard money lenders and see who gives me the best deal and go from there. I just don't know what to expect,  is the loan going to be for a few months or years.  Will they want percentage to make on their loan and/or points.  I will keep doing some more research and reach out to a few and get the dialog going.

So I've read a few of the books from bigger pockets and I like how they give Brandon's examples of good and bad sides of things but I was looking for more examples. 

I already have one rental and I have have a good cash reserve (but good is relative) but I'm looking at picking up more properties.  Any advice on working with hard money lenders or investors that are willing to make money on the money they loan me to purchase buy and hold properties?   I'm in the Seattle market and this market is on fire right now.   I have looked through the links that biggerpockets has on local lenders but not sure whats a "great deal" or not.   Some want points and cash, some just do interest only payments and you payback the loan etc.

Anyone done this before and have more examples that add to Brandon's.   

Thanks for the great responses guys,  honestly I'm surprised its day one and already getting responses.   You guys are making me feel very welcome, haha.

So I know this all depends on market, cash flow etc but is there a "normal" or average on how many homes you buy a year?    Are any of you doing this full time versus rentals on the side and working a full time job as well?

So I started reading one of the books from BiggerPockets which brought me to the site.   Like I'm sure most of us here I'm looking to get out of the rat race of working for a big corporation and getting my rentals to work for me.    I'm interested in buying and flipping but my primary focus is on buy and hold.  I currently have one rental house which is doing really well and live in another.   I'm looking to pick up my next soon and I'm kicking around the idea of a duplex.

Any advice would be great and I'm here to meet like minded people and essentially build up my network and team.