All Forum Posts by: Jonathan West

@Rumi Tever @Scott Schultz @Jay Hinrichs @Chris Mason  Thanks for your replies guys.  I'm going to reach out to these lenders.  Also looking at negotiating w the investor for he and I to pay cash and then we can go refi out of it once we have 100k in properties.  Very much appreciate the help!

Seeking advice and or connections in regards to this-

We buy SFR's in Milwaukee WI for 20-50k. We use investor capital for 20-35% of the purchase price and are looking to finance the rest of the purchase price. We could finance repairs, or we could pay for those out of pocket. Most lenders I've found aren't willing to lend this small of an amount as the loan would typically be 20-35k. We are looking for a long term mortgage preferrably or a note with a 5 year balloon.

Any thoughts greatly appreciated, we have the investor and we can find properties, just need the end lender.  Buyers can show significant reserves as well.  ($50k+)

Thank you!

Hi,

I'm looking for guidance on setting up an LLC to be managed by a Trust for some rentals here in the Austin TX area. Is there anyone who is an expert on this that would be willing to speak with me? I'd really appreciate it. Looking for an attorney or an experienced member.

Thanks in Advance!

Jon

Anything under 200k @Account Closed

Does anyone know of any good sites to look for good deals in the Kyle (South Austin) TX area?

I'm looking for a low priced second home in the area.  Thanks in advance!  Feel free to add me. Jon

Hi,

New investor, I live in Las Vegas put an add up that I pay cash for mobile homes.  I got my first response yesterday!  Great news however now what!

Its a double wide.  What questions should I be asking the seller?  He sounds motivated on the voicemail.

Here are my thoughts on questions-

What park is it located in?  What fees are associated with keeping it there

Why is he selling

How much does he want?

My questions to you BP regulars that understand this market, what are sites that can help me value this mobile property whether it is rents or etc?

Its a double wide.  Should I start at $1000 and negotiate up from there?

Its in my city, so thats a plus.  However mobile homes are not the norm in Las Vegas.

Any help would be greatly appreciated.   I am pretty lost as to where to start.  Thanks!

I live in Las Vegas bought my owner occ in January this year.  I knew I wasn't getting a steal at $107/sqft in the Southwest, however I was in a good place in my life and it made sense to buy.  I'm now keeping my eye out to upgrade if I can find the right property at the right price in a premium neighborhood.  That being said I'm seeing the listings available soften (I have my RE license however it is not active).  I'm seeing decent to quality neighborhoods in the southwest now with prices as low as $90 sqft.  If the market goes to that level in general thats a pretty big shift.  The southwest of vegas was trading around $115-120 psft when I purchased in January.  I wonder where prices will be in 9-12 months, whether this winter is the time to step in and buy or wait 9-12 months until all these new builds are built and sitting without selling.  Long term I believe in Las Vegas, the regional story just makes a ton of sense.  I find it hard to believe that we will trade below $90 per foot for good property however maybe we will!  Not pessimistic or optimistic at this point, just my 2 cents as a lay person who pays a bit of attention here.

Hi Dylan.  I don't live in Milwaukee however I am looking to invest in Milwaukee.  I'd say it can't hurt to attend any meetings, theres always going to be people offering their goods/classes/coaching, however you can just pass on those items and instead see what other great people are there for you to meet.  Just make sure you go prepared to introduce yourself to as many people as possible.  Just my thoughts!

Hey all,

I'm looking for the best website to track specific crime data for addresses and streets.

I'm currently looking for the greater Milwaukee area specifically.

Free or paid subscription, either is fine.

Thanks a lot for the help!

Jon

Thanks everyone for the input!  I did not know about DIHLR.  I very much appreciate all the knowledge!