All Forum Posts by: Keith Thomas

Well this was a great start to a First for alot of areas for me. First off-market deal, first time using HML and first for a partnership. This is truly a surprise after I gave it some thought to the no or low money down. I always wondered how can I achieve that as well. So a little networking a agent bought this deal to me after we talked after a podcast. So I looked ran the numbers and it was a solid deal. Had other people saying stay away from it. I took a chance and it paid off. So I picked up this deal for 227k we put 65k into it and used hard money but payed for our own rehab. As it stands we though the comps would be around 360k right now we have offers at 415k with a review date coming up. My goal is to get 10 doors this year as rentals and do a minimum of 5 rehabs. Also looking for Seller Financing contracts if anyone knows a good place to seek that information I would like to know.

ple express that they may want to invest as well. But I think once we sell this one and show some success then it makes u

s look more solid.

I have family down there so if anyone has any local REI groups or know of any good contractor's or PM's I am interested . They are driving for dollars an trying to get over the hump

@Pete Harper Awesome to see that. I do have a question did it matter what was owed on the property for you to construct your offer? That sounds like a great deal that has to be exciting. 

@Chad Dunham Chad as a investor you should never sign anything that locks you in with one person. I had a brand new agent try to slip that in with an off-market deal to myself and once I informed them that I do not sign those, they tried to get my partner to sign as well. I would talk to the broker and let them know your not looking to burn bridges but this agreement you may have not been clear on. Good Luck 

@Cassie Swan Cassie although I am working my way up to multi-family it seems that networking and building relationships and showing that you can close a deal is the best way. Creative is always good no matter what even if you need to partner with someone a deal is a deal and everyone can win. I found an informative property manager that is also keeping her eyes open as well, so that can be another route they are prevy to some of the ma and pa owners who may be tired and wanting out at a decent price or willing to do some owner financing. But I would start with building relationships and your target areas and reach out to a few property managers. Hope this helps.

 I am looking for any local investor's, property managers, and agents  down in SC. I have family down there and they are driving for dollars and I will be long distance investing with them. @Osric Harris So any guidance or help would be appreciated. I am looking to invest in the area and would like to connect family members with someone local if your interested.@Bobby Tindal if your a wholesaler lets chat.

@Whitney Hutten Thank you for that information that is eye opening. I take it that you have that exit strategy in place well before you get to that point. May I ask how did you find your projects and which HML did you use? 10 investments thats what I would like to shoot for in 2021 and then scale up from there. Any more insight on your process that you are willing to share I am all ears. Thanks again

@Account Closed Do you mind extending that template to me as well

@Brian Bufalini You make a excellent point there. I also am curious with the credit score dropping how can you continue to get approved for more when the income to debt ratio will also shift. @Evan Polaski How are mortgages rated differently can you explain that? especially when your renting an how are the banks determining how to lend and keep you safe from over leveraging yourself?

@Kody Henderson Well Kody I am not a lawyer so I am not sure whats legal or not. But you can get an address from anywhere and call it. You could call the person next door to the place you were responding to, it does not seem like you creating a legal concern but I am sure you will get some other responses that are more valid than mine. I am just on the out skirts of seattle down in Auburn. If you want, lets connect Kody