All Forum Posts by: Quasar Alexander

I am trying to see where to find financing to turn this 8 unit office building into a bed and breakfast with 8 rooms.  It needs to be upgraded with a full restroom in each unit.

Is that a construction loan?  Any help would be greatly appreciated.

Thanks

What did you do, Im interested to know

Anyone know of the best way to go about buying multiple rental properties?

We want 5 and want to buy them using the best mortgage company, private lender etc..

Is it better to buy them all at once with a mortgage loan?

Whats the best way to pickup 5 rentals at once? 

1. Need a answer for best way to buy multiple  rentals at once.

2. Need an answer in case some of them.need repairs too. Whats the best loan type of i have goos credit. 

Thanks

I have been lucky enough to get 3 nicely located properties next to Downtown Marietta and across from Kennestone Hospital. FSBO. Two homes have tenants.

I ran into a line of credit hiccup. Looking for other ideas on how to get rid of the property now that my line is low. Help???? Please

Hello BP

I have ran into my first FSBO deal.

The owner owns the property outright next to Historic Downtown Marietta GA. At first she said 180k, now she wants 190k bc she grew up in the house (an emotional connection).

Its a:

3/2 with half finished basement. A house across the street without a basement sold 3 months ago for $240k.

I planned to wholesale the house, but at this price there is no money in it for wholesale. I need to get this under contract for $180k or less. I have the option of fix and flip as well.

She has 2 other properties on this same street for sale. I sent LOI on all. She rejects to only be unreasonable. Are there any other way I can structure this? Wholesale? Of should I keep, fix, flip and hold? Any ideas?

The 2 other properties.

3/1 $180k with tenant, needs over $30k repair with extra bath

3/1 $170k needs 40k repair and extra bath

Thanks for any feedback.

Jerry,

I have the opposite problem. Too many deals, not enough money.

Find a partner that plays to your weaknesses. In this case that would be someone with real estate investing experience.

You can also leverage or use your money to make money. Invest in deals and get high returns in 6-8 months.

Look into buying or acquiring a Home restoration company that already exists and is doing well. 

Try some of the people from your area on BP as they may be a great resource.

Send me a colleague request if you like. I can give you ideas.

Happy investing

Always keep as much cash on hand as possible. Maybe get a partner. 

In my business experience, you always keep the cash. But you may have a way to leverage a partnership if you have cash and they have experience. Maybe use the cash for down payments but still split the down payments if possible.

It also depends on how much cash.

If you have enough then that may be a different story.

Happy investing

Thanks all. Thanks Jonathan M

I find these type properties daily as I drive around cobb every day.

I need to wholesale some. Send me your criteria. 

I would look in Austell, Smyrna, Marietta. Those are good Cobb county areas. Lots of fsbo too.

Also Cobb Auction is on the first Tuesday I believe. 

Send me a coll request. I saw some today with tenants in them.

Good luck