All Forum Posts by: Meghan Freckleton-Hopkins

@Alex Maksimiak this is the meetup I was talking about. 

Hey! Checking out this thread. Live in Hampton Roads, VA and have 2 investment properties there. Have a few people I know out in BA who said Tulsa was a great place to invest in. Interested in hearing from the out of state that are still investing there. How has the past year been? @Melanie Lovejoy @Rina D. @Ben Li

@Alex Maksimiak Hey! Welcome to BP. My husband is Active Duty Navy over on the Truman at Norfolk. We also utilized the VA loan and we started with SFH. With VA loan it cant have major renovations, but cosmetic is fine. We are looking to sell one of our single familys and 1031 it into a multi, but like you said they can be hard to make the numbers work here. Let me know if you need any help looking for properties or if you want to connect. Its always great to find like minded people in the area.

I do have a question in regards to the rent calculator- when we are analyzing for a multifamily, is the rent estimator calculating the price per each unit or is this for the whole property?  Please let me know when you get the chance and have a great night!

Thanks,

@Kerry Baird have you ever come across the bank calling the note due when it changed from the seller to you?

@Brianee Tolentino What part of Virginia are you in? I am in Hampton Roads, specifically Suffolk. But work mostly on Southside.

@Daniel Boda Hi and welcome. There is a meetup in Chesapeake next week for newer investors. Check it out in the meet up tab :)

@Kerry Baird Thank you. That makes sense. Both of your sellers have 100% equity in the properties, so they are the bank for you. Have you done a deal with subject too as well. I understand the difference of taking over the mortgage in the sub to and the seller being the bank in seller financing. I am a little hesitant with the sub to because of the bank being able to call the note due at change of names. 

How did you find the tired landlords? I have been looking at the MLS and multis that are expired or been sitting on the market for a long time. Also going to start reaching out to for rent by owners on Craigs.

Thank you!

Hi Kerry. I have been looking into seller financing and subject to. With what you said above, are you saying lump sum= your down payment? How do you determine how much there, just a negotiation? And then you only do the interest for the 5 years and then you start paying the regular loan and interest payment... for the life of the loan or do you payoff early? Just trying to make sure I understand everything all the way when I am trying to converse with seller and explain the benefit to them. Have you ever refinanced out of seller financing to a bank to cash out? 

My husband and I have 2 rentals that we bought conventionally, but now looking to get creative. Thank you for your time!

Hey Austin! Looking forward to it!