All Forum Posts by: John Morgan

@George P. did you do private money, hard money…?

@Jonathan Towell could you use private money for the down payment? Just thinking out loud and trying to be creative with financing if I was a little strapped for money but had great credit. I know that some banks wouldn't do private money lenders for payments but didn't know if some would or if that is just a terrible idea. Like I said just trying to be creative in my financing for those deals that come and go quickly. It never hurts to have options

If I wanted to do a conventional loan of 20% down on a SFH that was intended to be used as a rental, how would you design that partnership if i wanted the partner to bring the 20% plus the closing and I would manage? Would you do 50/50 on cash flow each month and then sell the property in however many years and split that 50/50? How would you structure and what is the most common form to that partnership?

So turns out I know a good amount of people that are high ups in the homevestors business. I have mentioned that I am trying to get into the business of real estate investing and they have discussed with me the opportunity to do an associate franchise (I am a full time 3rd grade teacher). Looking at the business I see that they have a lot of training and good mentor programs to help a new investor understand the business as well as their own type of financing. I was wondering if anyone on the forum has had any experience with them or if you know someone who does?

How are you going to finance? It looks alright but I would be sure that the water in the basement is not a leaking foundation. That can cost a pretty penny

I am in a reflection mood. Think of your worst deal you have done. What happened? Did you buy at too high a price or was there an unknown problem that popped up?  

@Paul Timmins Thanks. Definitely had some good stuff to use. Just didn't know if there was a residential area.

@Paul Timmins 

So I looked at that website and could only find commercial numbers. Is there a place to locate Residential #?

What types of property do you manage? What all do you do with that management company?

I am in the beginning stages of starting my investment company and am writing sort of a business plan. I want to include a section that defines my market and shows how the Knoxville Tennessee market is doing. I am looking for information on the amount of homes being rented vs bought, what the temperature of the market is, and any other types of data that I might be able to include on a letter to give to a private lender to show what the market in Knoxville is like. 

Any ideas where to get this information? Should I just look at the main sites like zillow and truilia or are there different ways to research this? Also any other information to help a new beginner looking to purchase buy and holds would be great. Thanks

John