All Forum Posts by: Jordan Lockaby

from my limited understanding.. there is obviously a difference between being a US citizen, a permanent resident, a visitor, etc. I have several clients who have bought homes in the US and were not yet citizens, but they were ITIN for example. I like what other folks have said too, about partnerships. Find someone who is a citizen or resident, but might not have what you have (ie capital, experience, skill set).

Another option to think about is partnering with someone who has more room in their DTI - i.e. someone with a steady W2 job who maybe only owns a primary and no other real estate, or maybe doesnt even yet own a primary. I like to think about partnerships in terms of; what's your missing link, and what do you have to offer? Find someone who has to offer what your missing link is.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $225,000

Beat 26 other offers to snag this CUTIE PIE of a round house in the Wolf Laurel Resort community. (Ski resort, golf course, air strip, Appalachian Trail hiking, swimming pool, fishing, etc.) Yes, it was during the height of a hot sellers market in Asheville, and yes, I paid $65,000 over asking. Worth it? YUP.

How did you find this deal and how did you negotiate it?

Listed on the MLS. Made a very competitive offer well over asking price which included waiving my own commission as the buyer's agent.

How did you finance this deal?

DSCR loan.

@Josh Myrick - super cool to know about your services! This sounds like a unique, custom PM solution that I'm certain will be a huge asset to our community! Amazing!

What a cool idea! Being outside city limits but walkable to downtown will be really tough. There are many places within city limits of our town that are still not walkable to downtown due to highways and such. It's not a city. It's a lil mountain town! :D There is a big need for midterm rentals, for sure. I can think of a few people who may be interested in your live-in mgr arrangement. I'll send ya a message. 

PS Can't wait to see the movie!

 Congrats!!!

Hi @Robert Hasty! I host the monthly BP Asheville area meetup. We'd love to have you attend and learn with us. 

hey @Chris Harjes, can you share his contact info? Thnx!

@Mike Szabo, great job!! What a huge rehab. You should be very proud. LTR's are so very hard to find and make work. You really put in the sweat on this one.

Love this project!! What part of town? I’m curious how you built a relationship with the builder / developer. This is the critical relationship in this type of project. Had you know those individuals previously?