All Forum Posts by: Keenan Patton

Headed into a new market and loving learning the way things go. I'm a California investor pushing capital into Memphis. Just starting my TN journey and I can tell this is gonna be a fun endeavor. Lots of rehab, lots of potential, and lots of cool stuff to do when I go to see the properties(hahaha). I have a few door in Cali right now but pushing into TN I've put in 8 offers in 3 days with rehab budgets ranging from 20k to 55k. If you're in the Memphis market and want to connect don't be scared to send me a message. Always looking to connect with other like-minded people. 

@Jeffrey Masessa if you have the time and money to concentrate on real estate, than go for it. College, in every experience I've known, is over rated unless you want to be a doctor/lawyer/tradesman.

Has anyone ever found a group in the area. If not I'd love to make one. Is anyone around still or open to making a meetup with me. 

With a crowded market in my area, I'm still finding it semi simple to find great deals. Though with low money reserves and fair credit I have delays getting the funding needed.

All the deals I find that are good enough deals, for my variables, I can't seem to get owner financing. With only small bank accounts, and credit that doesnt help much, what are some techniques people would use, or f uh lending partners. Does anyone have this issue and are able to overcome it without just waiting to save large down payments for all the properties you want?

Of course many states have slightly different regulations but in your city does a quit claim activate the due on sales clause. I'm doing a deal now in California that we are wanting to do a quit claim than a refinance in about 2 years. Anyone have experience with this. 

What states are you all from, and how does this affect your state? :)

Thank you James. I appreciate the hospitality. 

Following this thread. I've run into this issue myself. Thanks.

Score on this one, I have a deal like this going on now. The woman want to get out so I am giving the lady 30,000 to quit claim, she wants to stay in one of the 2 properties, which with her payment and a granny unit rented 90% of the monthly cost will be paid. The property next to it is included in the deal and will be 90% profit, 1350 a month cash flow after expenses. BOOM! Gotta love real estate.

If this is an investment property loan that may be reasonable. What type of loan do you have? Is it through a national bank/private lender/credit union/etc. If you are using the loan for a primary residence than i'd say that is a pretty poor interest rate. I'm closing on a loan now 703 credit with a 4.3% interest rate on 265,000. I have a repo from years ago and my credit length is still in the low category. This is on a primary residence loan.  

Hi everyone, 

I just want to introduce myself. I'm a new investor that is looking to work in the fix up contruction side, potentially as a project manager while I learn some more of the in depth knowledge of investing. I've been learning and for years and have now started making deals and now want to make it a full  time thing for me. 

I'm here to share any potential knowledge I have and learn as much as I can.

I'm currently trying to land a deal that I pay 30,000 to take over a loan of $373,524.33. The property has 3 doors on it. It is one parcel with 2 5 acre lots. One of the lots has one house on it, the other has a a house and a granny unit. The loan I'm taking over is 2500 a month with taxes and insurance included. The one property with the granny unit will pay 2550, while the other property will pay 1500 on a low end. So from what i'm thinking, and it being in California, I can find good deal and understand what to look for. 

I'm interested in knowing what everyone thinks of not only me wanting to do real eastate as a job and investment as well as if you think I found a decent deal. Thank you.