All Forum Posts by: Patrick Ketchum

Looking for over encumbered or underwater homeowners wanting to sell without incurring a loss. Will pay full commission to agents who refer these deals to me.

My wife and I are looking to get into our first "house hack". We're looking for a 3 or 4 plex in Ogden Utah. We're looking for something that would cash flow at least $100 a door after taking out 6% for vacancies, 5% for maintenance, 10% for capex, and 10% for management per month from the gross monthly rents. We're hoping to live in one of the units for a while at least, so one of the units would have to be available or close to being available. 

Price range 200k - 250k

Seller financing would be great.

If anyone has a lead on something like this, I'd love to hear about it. 

Welcome to BP. I'm looking to break into the Ogden market as well. I hope we getting the chance of working together some time. 

Welcome to BP @Roger Middleton. While I have never golfed, I do play a mean game of mini golf! Haha. 

I'm moving up you're way in the next month or so. I'll hit you up then and see if we can grab a bite to eat and talk about RE investing. 

Good luck! 

Welcome to BP @Benjamin Ostler. It sounds like you have found an awesome way to use your current job to your advantage starting of in RE investing. 

You know, I bet if you were to contact some of these places you see that are vacant and get all the details and then bring it to someone who's interested in flipping, you'd probably have a lot of interest. You could even use the flipping calculator offered on BP to analyze it and see if it would be a good deal. It would probably only take a few calls a day to find something that could help you get your feet wet. 

Good luck!

Did you get the estimate from an agent who pulled comps? If the estimate comes from another source like zillow, it might not be very reliable. 

Another thing to consider is how you are purchasing it. Can they do seller financing or another form of creative financing that would save you money and make the deal worth it?

It sounds like you're also going to be saving money by purchasing directly from the seller and not paying agents. 

Podcast 103 talks about seller financing quite a bit. 

Good luck!

Yes. and FHA seems to give me the best interest rate for the lowest down. I would definitely consider an alternative but this seems like my best option so I want to pursue it and see if I can find anything that would allow me to do it.

Best of luck to you, Secret. I hope you find massive success in this new journey.

Way to be an animal! Thanks for the inspiration. 

I admire you for not giving up. I think that's exactly the quality that will help you succeed in this field.