All Forum Posts by: Marc Rice

@Dylan Osmon

Call other investors who own multi family there and ask them who they use. Ask other agents in your area. Look at nearby towns. See on Zillow what houses are listed for rent and by who

@Rick Rolfe

Have your contractor sign a lien waiver. Look into this and how it protects you from mechanics liens.

@Trevor Miller

It was a play on the often mentioned 1% rule which is a prequalified to a good deal. I was saying your gross rents were 3% of the purchase price which is great

@Trevor Miller

3% rule! Killer!

1. See if he’ll loan you part of the down payment for the purchase at a good interest rate.

2. Seller finance it where you give them a down payment that you can afford and pay him principal and interest monthly until you can refinance it with a commercial lender. Usually a 3-5yr balloon is normal

@Patrick McCarthy

You can’t refinance as an equity partner (tax free) or have full control and scalability of your own money and units. More risky (some would argue less risky since you’re in 100% control), but more reward to own your own rentals. It’s easier for equity partnerships down the line and you’ll be more in control on those - I’d recommend buying some yourself to start

@Lauren LiGreci Brown

10% CoC and $500/mo cash flow + APPRECIATION AND LOAN PAYDOWN.

Numbers seem great, just send it and it’ll force you to make it work. If you over analyze you’ll be working a W2 until you’re 70.

@Joshua Fields

You’ll pay top dollar on all rehab and it’ll be delayed, that’s if you can find a GC willing to deal with the paperwork of the 203k.

@John Walter

Awesome!

@Kordell Coleman

Great! What gross bookings are you getting a month and how much is your operating expenses?

@Antony Charlier

Cold call, consistently. Try to find seller on the phone and naturally you’ll build a network and learn the market. Find a local mentor you can bring your deals to to get paid. Keep growing and make a plan to buy your first house hack rental