All Forum Posts by: Paul Charles Bayliss

I know it's not connected to the BP Rehab tool anymore, which is unfortunate, but the AI it was powered by is called "Kukun".

You can still make free estimates there similar to the BP tool, but it limits you to I believe less than 10 "rooms" per project.

@Andrew Kiel

From everything I have seen throughout this creative finance series and in my limited number of creative deals, I can definitely agree that a solid Title Agent is a key member of any team.

It's crazy that there are people who would actively try to make creative finance more difficult!

Hey BP!

I've been watching Jerry Norton and Pace Morby's fantastic YouTube series on creative financing. I want to pose this question for the BP community, hopefully as a spot to aggregate important and useful information, as well as create a constructive dialogue regarding different Creative Financing strategies!

** What Team Members are most essential for each (or all) of the following Creative Finance Strategies?**

**Are there any UNIQUE Team Members that you may need to successfully implement each strategy?**

- Seller Finance

- Subject To

- Hybrid (Subject To and Seller Finance)

- Lease Option

- Arbitrage

- Novations

- Executory Contracts

- Wraps

- Options Contracts

- Any other creative finance strategies not listed here!

If anyone who sees this post hasn't had a chance to watch Jerry and Pace's series, I highly recommend it!

Thanks!

-Paul

Thanks @Michael Turner! I will definitely be taking a look through their website. Has your series LLC in Texas had any standout pros or cons when compared to your LLC in Florida?

Does anyone have any experience, good or bad, with series LLC's in Texas? What are some pros and cons of using a series LLC vs regular LLC in Texas?

Thanks!

@Tom Kaz

I’ll definitely do that then. Looks like the only way I will be able to reach the 20-25% DP is by saving more or finding a partner.

@Odie Ayaga

Thank you for your input! That definitely makes sense.

@Andy Webb

Hey Andy, thanks for commenting!

You are definitely right, it is blowing up down here! I am also looking at some quadplexes down here but right now they are priced to high for the current rent in those areas. Property taxes are also unfortunately high (one of the reasons I was looking in lower property tax states).

As far as cash reserves, I do have some! It’s just the amount I am comfortable putting down is not enough to cover 20% of most properties while still retaining enough for an emergency fund.

Hey BP!

I’m looking at buying my first rental property. Currently I am looking at a Triplex in TN that will come to market at approximately $199K.

I am leaning towards going with a conventional mortgage however I don’t have the normally required 20% down payment. I’ve thought about utilizing a hard money loan or possibly a personal bank loan to reach the required 20%. I am also actively looking at finding some private money to reach the 20%.

Any other suggestions on routes I could take to do this? Any input would be appreciated!

-Paul

@Thomas Rutkowski helped me build a cash focused whole life policy that allows me to potentially earn interest in two places at once!

Thanks Tom!