All Forum Posts by: Jeremy P.

Check out your Local REIA (Real Estate Investors Association)

If you're wanting a lower interest rate (9% seems high). Conventional or even Private Money is better. You can always try the 3 Offer Approach

1st Offer (Lowball) All Cash $199K (Make sure you have the cash to close or you're just wasting everyone's time)

2nd Offer Little Better but you want to set them up for the last offer

$210k 20% Down 0% interest with payments over time

3rd  Offer Full Price or More

$250k 20% down 0% interest with payments over time

Why did I offer more than they want? by over paying 20K (and them saying yes to 0%) I am saving on the Interest during the loan term.

I would do a smaller loan term also:

1. Are you going to keep this for 30 years? Maybe in a Land Trust so it passes to your Children, etc.

2. Are you going to try to BRRRR? (Where is the Equity if you have 30 years? you need to wait till year 7 or 10 before you can try to pull anything out)

3. Smaller Loan Term gets Equity Faster and Mortgage paid down faster

@Brandon Turner

I agree with @Josh Cohen I got the digital copy and audio book couldn't listen to it.

I'm more of a physical book so I bought that and almost finished reading it. I have Rental Book and Managing Rentals from Brandon lined up next.

https://www.biggerpockets.com/books

3.5% Down sounds like an FHA or 203K Loan.

Requirements are 12 months of owner occupy, you can only have 1 FHA Loan out at a time.

You will need to obtain conventional financing on the refi before trying to get another FHA for the next property

What is Vacancy % & Cap Ex %?

It looks like it could work but without those, its hard to gauge.

Came across these articles:

https://www.biggerpockets.com/renewsblog/teach-kid...

https://www.biggerpockets.com/renewsblog/2015/07/2...

One of the Articles talks about a Money Savvy Pig, not sure it will work for tweens & teens but if your children are younger it is worth a look

https://www.amazon.com/Money-Savvy-Generation-LMSP...

Books, Books, Local REIA Meetings, Lunch with other investors, etc.

just remember basic sites are open to the public/retail buyer.

It might not be feasible to even find a decent deal worth looking into.

I don't quite understand your request.

My local Wholesalers (these are the websites I use frequently) in my area would not benefit you any unless you are looking to buy in the Central Florida Area.

The best resources for deals would be:

• MLS (depending on Area you want to buy)
• Agents (Realtors) (depending on Area you want to buy)
• Brokers (depending on Area you want to buy)
• Wholesalers (depending on Area you want to buy)
• Local REI Meetings (depending on Area you want to buy)
• Friends & Family (depending on Area you want to buy)
• Bigger Pockets (depending on Area you want to buy)

Just follow this post: https://www.biggerpockets.com/forums/645/topics/41...