All Forum Posts by: Richard Helppie-Schmieder

I agree with @Patricia Steiner. No harm no foul yet, but be sure to stick to the lease. If there truly is a concern, you can always send someone once a month to change the air filter and make sure everything is looking good inside. 

@Andy Lange If you find a great portfolio lender, a lot of times they can lend based off of asset and experience. If you have true solid pro forma numbers on your rents and can cash flow it, you can more than likely get a bank to finance it. Where abouts it the property in LA?

@Marek Berry if the lot is in the Dallas area, I would love to help out if able. Please let me know!

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Hey @Ryan Cooley, you could start calling local banks to understand their terms. For my first portfolio lending deal, I called 45 banks, 5 got back to me, 2 offered to fund and I negotiated with one bank for 10% down because the equity was there. Hope this helps! 

@Richard McCaig II I think this depends what type of loan you are getting. How are you financing this deal?

@Cameron Hunt They move alot of property, but alot of times the numbers are off. I have seen around 300 deals from them over a 4 year period, walked 3-4 properties and bought 1 from them. They listed the property for sale at 155k with an ARV of 290k. We purchased it for 140k and it has a true ARV of around 250k. Hope this feedback helps!

@Mark White No regrets on my first property, but putting actionable steps in place in list format helped a ton. 

Hey @Steven Arterbery. This is cool to hear that you are ready to jump in. For me personally, I have learned to not sink any capital into systems until I need to make them more efficient and I know the direction I am going in. One easy step I took to find deals was to call the numbers on the "for rent" signs in front of houses and on Zillow. I have purchased 4 homes this way and the yard signs are a good indicator the owner is older and more willing to sell. Good luck! Hope this helps! And if you find any deals in DFW, please message me. I am looking for more!

@Corey Slaughter Awesome work man! This is what I did on my very first home 10 years ago. Bought a home, rented the spare rooms and paid virtually nothing for the house on a monthly basis. This is how I got the real estate bug. Rockwall is a great city too and think you are spot on with the natural appreciation as it is getting to be crazy expensive to live in or around Dallas. Time to get it fully occupied and take down another! Great work man.