All Forum Posts by: Matthew Cretzman

A friend of mine who is a realtor contacted a FSBO property and turns out the owner also owns about 40 properties in all and is selling EVERYTHING in her portfolio.

Most have tenants. Some do not. Her asking prices fluctuate between $88,000-210,000. All are in the Dallas-Fort Worth Area.

Experienced investors, could this mean:

1. She knows the market has begun to turn and wants to cash out before the crash?

2. It would be best for me to wait to buy investment properties until AFTER prices go down and the market re-adjusts?

Am I overthinking this whole thing or is this really a great opportunity to acquire some properties already cash flowing??

A friend of mine who is a realtor contacted a FSBO property and turns out the owner also owns about 40 and is selling EVERYTHING in her portfolio. Most have tenants. Some do not. Her asking prices fluctuate between $88,000-210,000. Experienced investors, could this mean: 1. She knows the market has begun to turn and wants to cash out before the crash? 2. It would be best for me to wait to buy investment properties until AFTER prices go down and the market re-adjusts? Am I overthinking this whole thing or is this really a great opportunity to acquire some properties already cash flowing?? MODERATOR NOTE: Please answer the question only. No deal making in the main forums. Do not reply with: PM me, tell me more, I am interested etc.

Gotcha. Thanks, Chris! 

What rental contract did you use? Thinking about turning over my first rental from a flip I'm in the middle of.

Do you have renters in these properties already, Stephen? Curious to know how you're floating these properties so long on such high hard money rates.

I just started work on a property in a very solid rental area in DFW and am thinking it may be better to refinance the property post-rehab and stick a renter in there... As a flip, I wouldn't net very much (maybe $10k with 45 day turnaround). But, I could rent it out and hit the "1% target." The deal is: $93k purchase $25k rehab Can sell fast for $130k Private lender gets 25% of net I know it's pretty slim but I'm just trying to do what I can to build some capital and eventually my rental portfolio. That's the end game. So, I've found I can acquire properties using private money (I have two excellent lenders with amazing rates), rehab, rent, refinance through a bank. My quandary is --- 1. Would a bank refinance the property with new renters? (if I had a good relationship with a small one, which I may.) 2. Would the private lender be turned off by my changing the game plan mid-rehab? (this is our first time working together.) 3. Would the property be refinanced at the same price I would/could sell the property? ($130k) My play, as I see it now, would look something like: 1. Finish rehab and refinance through the bank 2. Pay private lender off and give him his cut (25% net) 3. Put in a renter and hold the property indefinitely (for cash flow and equity) I can rent the property for $1300/month, and do that very quickly (within a week). Mortgage - $700/month Additional Expenses - $400?? Cash flow - $200?? My REI goal is simple -- replace my income with rental properties within the next 12-18 months ($4000/month). I guess the better question would be: what's the fastest way to do that??? Any wisdom on this deal would be greatly appreciated!