All Forum Posts by: Luke Roberts

Did you do the deal at Kiawah? I am currently looking at a condo at Mariner's Watch on East Beach Kiawah, and would love to hear from other Kiawah property owners.

Thanks,

Luke Roberts

Thanks everyone for your responses.  Let me clarify that I could buy this house with all my own cash if I wanted.  Cash on hand is not the problem.  The issue is more that I am intrigued with the idea of putting no money down, and using that leverage and appreciation with the tenant paying down the mortgage to grow long term net worth.  Then I can put my cash to work elsewhere.  

If cash was not an issue, would that change your opinion?  

Thanks,

Luke

Hey Investors, 

    I have been looking for deals all year and in my area, rents don't typically EVER cover the 1% rule because houses are too expensive compared to rents.  However, this deal is owner financed up to 80% (I figured I would use only 20% owner financing and 80% bank financing to get the best blended interest rate) and I can purchase the property with zero of my own cash.  So, my question is, is this a good deal even if it barely cash flows due to the fact that it is infinite return and I will still have the upside of equity, appreciation, and tax advantage.  It violates the 1% rule and the 50% rule and it barely cash flows.  

Is this a good deal or not?

Would you take the deal or not?  

Thanks!

Luke

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Thanks for the feedback Fred... that sounds like a great idea.  

To expand this subject, are there any of you that would use this money for hard money loans?  Just be the bank and make the money do all the work?

Thanks everyone for the feedback. I will look into the syndications and more "passive" REI techniques.

Hey,

I am new on the forum and to residential real estate investing. I have roughly 200k to spend to get started. Am I better off to pay cash to BRRRR one property or to put 20% down on 5 turnkey properties? My goal is to build a portfolio as quickly as possible that will eventually replace my 'active' income. My active income is as a mulitlocation/multidoctor/multispecialty dental practice owner, so I really don't have a lot of 'free' time and I worry about the time committment for BRRRR even though the same 200k could go much farther in the long run. Any advice would be greatly appreciated.

Thanks!