All Forum Posts by: Jordan Sutherland

Haha, thanks for the reply Jonathan. Do you have any tips on how to find seller financing in Lubbock?

Hi, 

I recently purchased my first rental property in my hometown Lubbock, TX. I am very anxious to purchase another in the near future. I am 23 years old, married with two children, and my goal is to aquire enough buy and hold rental properties to provide my family financial independence.  The only thing holding me back right now is a lack of capital. I have a large emergency fund that I am not willing to use for real estate investing, so I can be prepared for anything unfortunate that may come up. I  have set aside about $12,000 that I want to use to purchase my next property. My credit is around 800 so I could get a loan through a bank easily, but I would need 20% down. I'm interested in good B class, 3 bedroom SFRs that are priced around $90,000- $125,000. This leaves me a little shy of having money for 20% down. Does anybody have any ideas how I can obtain a property like this with only $12,000 to work with? Like maybe any decent private lenders in the area, or tips on finding someone willing to owner finance. Or should I just wait 6-10 months until I have enough money to do 20% down with a bank? (Also my wife said house hacking is definately not an option, as we are comfortable in our current home.) Thanks!

- Jordan

hey everyone, 

I'm purchasing my first investment property. It is a 2000 sq ft duplex I'm purchasing for $70000. I just got a $75,000 actual cash value insurance quote and a replacement insurance quote. The ACV is almost half the price, so it's what I'm leaning towards. is this a good decision?

Hey everyone,

I'm 33 years old and new in the whole real estate investing thing. I'm closing on my first investment property in 1 week! I have heard a lot of different  opinions from friends and family about real estate investing and what kind of properties to buy.Im interested in buying properties and keeping them for the long haul to gain financial independence. My question for you is this: Is it better to purchase properties that are in lower income neighborhoods that will make good cash flow and good CoCROI, but poor appreciation? Or is it better to purchase properties that are in middle/upper class neighborhoods that will provide poor cash flow and CoCROI, but will most likely appreciate very Well and attract good tenants? Thank you all for the input!

The property is in the Clapp Park area just east of university, which I know is not the best area. I budgeted for 8÷ vacancy and $250/month in total repairs, cap expenditure, etc. I think that is pretty reasonable. Also, the property is in pretty good shape, with a 2 year old roof and fairly new A.C. units and water heaters.

hello, I have my first investment property in contract. the property is a C class duplex in Lubbock, TX. I'm purchasing the property at 70,000. it was originally listed at 85,000 And the approximate worth is 80,000. The current rent is $1100 total for both units and both units are already rented. I was offered a private loan at 5÷ interest amortized over 30 years by a private lender. All I have to provide at closing is 7÷ ($7,000). The loan will be $350/month and all expenses are estimated at about $540/month. This leaves me with an estimated cash flow of $210/month. The duplex is in a neighborhood with poor projected appreciation With an initial investment of $7,000 And a projected annual ROI of 35÷, this deal sounds too good to be true. It's my first investment property and I'm still slightly skeptical about it. Does anyone have any input on whether or not it is a good deal to close on? Thanks for the help!