All Forum Posts by: Landon Dean

Looking to build a pipeline of wholesalers in the Tulsa and NE Oklahoma market. Would love to meet up in person with some wholesalers, learn how they drive their business and how we can mutually help each other.

I would love to house (pun intended) everything for my 4 rental properties in Stessa. Love what it seems like it can do. Does anyone in the Tulsa, OK area have experience with this platform that could give me a quick tutorial or provide guidance? I use a management company but trying to import that information from Buildum into Stessa to create a fully functioning overview of all aspects of each property and portfolio.

Thanks everyone for the advice. I talked to my lender, which helps that he is a good friend of mine and said we should be able to make this type of deal work.

I am not clear on what a subordinate lien or lien against the property is? Can someone explain that?

My strategy, but not sure how it would work:

Need about $30K (for 20% down payment) to purchase another buy & hold rental roughly around the $110K - $120K price range. I have two possible private money lenders and was going to take out HELOC on my current home to get all the funds needed for closing and then take out conventional 30 year mortgage on the purchase. Will the below strategy work to use as my 20% down?

• Private Lender #1 - $10K
• Private Lender #2 - $10K
• HELOC on my home for $10K

With all this being said what is the best way to pay back private money lenders and is there a way to set up an amortization schedule for $10K? Do you pay them monthly, lump sum....I assume it's whatever you work out with them. I was going to offer them 10% ROI so for their $10K investment they would make $1K.

Thanks BP members for your help in advance.

Thank you all for the replies, this just keeps me learning......I can't thank you all enough for your help and guidance.

Portfolio Loans.....I am looking to learn more about them and some real life scenarios people have used.

1.) How does it work compared to a traditional 20% down loan that I have used on my other two properties.

2.) Are smaller local banks best people to approach about these?

3.) Any other information to help me understand everything I can about these type of loans would be great.

Thanks BP friends!

Joel - understanding you is where I lack in this game. You have some great sound principles it seems but not being a finance major, I don't understand your strategy :(

Tyler - great responses for sure and I am in the process of reading Brandon's book right now.

Kerry - I love your comment, short/sweet but makes complete sense. When you say wide, what does that number mean to you 5 or 20?

Bryan, as you say that it's SO true which is what's great about this industry! For me a small mix of both is what I am going to strive for. I want to get 2 more properties and then take cash flow from them and work to pay down the one that cash flows the best.

Thanks again for the advice Bryan!

Thanks for the information and welcome Theresa. You have some great valid points and great to know about Zillow, I knew it didn't take all of the factors into account but glad I heard it from you as well :)

I just need to learn how to grow my business the safest and smartest way.....love that there are so many different strategies to do this just trying to find the one that fits for my family the best and our goals. Takes time and I just need to be patient I guess.

Thanks again