All Forum Posts by: Account Closed

@Sunil Chauhan  #1 CHRIS Clothier is "The" expert in turnkey , having said that I completely agree with what he says. I find that properties under $1000 USD per month ARE BAD INVESTMENTS. Here's why let's say you do buy that $30k property and you manage to get a good one with rents in the $850 range. You will most likely want to either finance it With a commercial rare (today 7-7.75% ) or at least account for your internal cost of funds (for me 10%) so let's just take a simple number of 10% APR. so your costs are as follows $3000 - cost of money $700 insurance $700 taxes $1020 reserves $1020 property management $1020 maintenance $3600 profits (always make sure you pay yourself $300per door/month) $11060- total costs $10200 - gross income Leaving -($860) negative At this rent range you have higher turnover and your returns are negative if your tenant moves out before 12 months. The numbers above are from an actual example (everything rounded Down to 10% (reserves and maintenance) . If you don't account for your cost of funds or for your profits or maintenance or reserves well now you can claim a high CAP Rate . But that is where reality comes in. I sell properties to my clients where everything factored in they can safely maintain $200-300 USD cashflow per door with a 98% occupancy rate Lynn

Incan do your fix and flip deals message me with your contact info and we can talk on Monday

I M looking for rental properties in NC,SC ,GA,Fl, TN and KY If you are tired of dealing with tenants and you own properties in the above states, I am looking to expand my portfolio. Send me a message with your property addresses and contact information . I will reply with a time we can discuss your property.

Kendelo, 

Look into private lending first , it gets you into the game with limited risk as long as you are lending to an investor with a good track record. Typicallly in my network we pay 10% returns on the money borrowed . Usually we have a limit of $50-100k but in some markets I have taken invesotors on for as little as $20k. Depending on the market And the upside  you may be able to get 10% per turn and a good investor will turn houses every 90 days so at the end of the year your $25k investment could grow to $33,275 but in the process you may get to see 3 flips through to completion and add those to your resume while having your money secured by realestate. Private lending is not as sexy as flipping but as a first step into flipping it is a good way to get involved and get some experiance without jumping fully in before you know some of the ins and outs. Our company takes on new investors as private lenders for the purpose of educating them because when we all operate to a higher standard it elevates our profession. "flipping houses" has a bad impression sometimes but what we are really doing is repurposing real estate to make it useable for the home owner , the neighborhood , and the city.

Jamal i have several commercial opportunities depending on the level of investment you are ready to make. Our commercial group syndicated deals with one or multiple investors with 10-20% investor equity jointly with equity/debt partners for the larger portion. We focus on properties which we can force appreciation through improvement and repositioning. Reach out to me directly for further information esp considering you are working in Afghanistan i suspect that a component of your income is taxed differently that if you were here in the US. Our focus is to assist our investors in retaining as much income as possible while limiting their tax liability so i may be able to show you some options for investment that you are not aware of. US

OPC - other peoples credit If it is a great deal partner with someone to take it down . "Some of the money is better than none of the money" send me the CMA and average days on market for homes in that area in the projected sell price range as well as a detail repair estimate from your contractor. If the numbers and hold times work we may be able to put something together.

Great plan here is what i would suggest yes use the VA for the acquisition, establish an Scorp (NCH INC las vegas NV ask for Hunter ) establish a relationship between your company and a lender who will do a blanket loan for multiple properties in multiple states. When you change duty stations roll the property into your companies portfolio loan and extract your equity for the next purchase. If you know your next duty station ahead of time then market your property for lease through the housing officer at your duty station. If you can swing it buy more than one property at each duty station to get better traction with the housing officer ( let me know if you need a partner to make this happen i syndicate deals every day). I might suggest that as opposed to buying single family homes you look at 5+ door multi family units in each duty station the down side is that the VA i think will only finance a Quad since it still qualifies as residential but if you can buy two quads you can roll those into a commercial loan. Ping me if any of this is confusing. At 23 i commend you for having the vision of building your family's freedom. Im here to help!! And John THANK YOU FOR YOUR SERVICE !!!

Read Andy Tanners 4 pillars of investing it is a great book and if you have an opportunity attend one of his seminars.

lesson learned from this one is dont use all of your money for the flip. Leverage is a good thing it helps you react faster it also increases the cost basis for the flip and reduces your taxable cap gain. A full year to fix is too much this is one reason your house may not be getting attention .I can build a house ground up in 90 days after permitting so a flip shouldnt take longer than that. Ok so lets deal with the problem at hand you are getting no traction from your MLS Listing . Drop the listing since your days on market is just going to increase from here and that will limit the buyers. Introduce yourself to every realtor in your area and give them a flyer , host a wine and cheese for them to view the prioerty and point blank ask them what they would do to sell the property. Offer a $5000 bonus in addition to full commission to the agent who can sell it as a pocket listing in the next 30 days. List the house on craigslist , backpage and the other 36 sites that show home listings. List it as both for sale and lease Purchase. If you sell it on a lease purchase you can sell the purchase note at a discount to a note buyer ( contact me first ). You need to take massive action to obtain a result.

When it comes to your credit being trashed well it is just your utilization ratio is tooo high , next time call and ask for increases in your limits as you use the cards and then apply for new cards as you increase your credit , however the best option is a hard money lender and a quick flip!!