All Forum Posts by: Ryan Billingsley

@Walker Seid Wow that is a great rate!  I will definitely have to check with my banker!

We also have a coworker who is interested in loaning us the cash for a 10% return.

@Walker Seid 

 Another good idea!  Wonder what the interest would be..  We have a good banker who will loan us any amount we need at a very low rate but requires 20% down payment.

So we came to an agreement for the two properties at 46,000.  We will need to come up with 9200 plus closing cost.  We have 45 days to close.  Exciting!!!!

We are always looking to keep the capital free for other opportunities to create more capital.  We don't like to be house poor.  The goal is to get into this opportunity with no out of pocket expenses so we can have cash on cash infinite.

@Richard C.   I keep a 0 balance on my credit cards by paying the balance every month.  But I do have one with a 11k limit.  That is another possibility.

@Jesse Waters   We currently do not have any properties with equity to borrow.  The private investor option would be a great idea!

@Christopher Gilbert   The 401k option is a great idea!  We do have one and would consider borrowing money from it.  I will have to look into the interest rates that they offer.

We recently ran into a great opportunity!  Because of our success with our first Direct Marketing Campaign, we decided to target another area and last week was our first week to hit the new area.  We had a great response rate and many good leads.  One of the opportunities we are pursuing is on two properties that we did not target.  We received a call from a investor/contractor who received our letter on a property he was not interested in selling but had two other properties he wanted to package and sell.  They are both turn key rental properties.  One is currently in the middle of a 1 year lease and the other is waiting for the new tennant to move in as a section 8 rental.  We walked through both last night and they are in a quiet area and need zero work to rent.  The specifications of each house are:

2/1 600 sqft  renting for 600 to section 8

3/1 855 sqft  currently rented for 600 but we could get 700

The investor wants 50k for the package deal. We offered 45k and are waiting to hear his response.  We have a banker who will finance us with a 20% down payment.  We do have the money in our bank account to pay the down payment but we would like no out of pocket money invested if possible to keep the money we have to invest in flip opportunities.  What are some creative solutions to our problem?  Thanks in advance!!  

Welcome!  This site is by far the best place to get started!  What you can't find by searching can be answered by the many helpful members!!!

Welcome!  This site is a great place to start!

I guarantee there is a couple investor friendly title companies in the KC area.  Investors are closing their deals somewhere!