All Forum Posts by: Rod F.

Shane I have pretty well stayed with the in house loans, borrowed the rehab , and closing in with loans,  Finished rehabs and hold approx 30% equity in the sfrs, Occasionally something comes up and I go back and refi for the problem. mostly i buy and hold, reinvest everything to pay off loans, This is the year (15) our domino effect has kicked in, one will be paid off about every 6 months now. 

House hack, fix and flip,  Owner finance, Partnerships, Hard money, family members, there are many ways it invest without banks. The First one is the hardest.

Personally We have been using 5 different banks, some sold out and now down to three,  This gives me more creative finance options, each person brings something different to the table, and this increases my "Available lines of credit" .

Build relationships, you never know when you might need one to help you out.

Jeremy try Robert Hudgins in searcy , he has helped us alot.

don't forget loss of state 

Health insurance,

and retirement  

interested in turnkey or property's that need light rehab work .

keep your heart out of it.

it's a business, make sure renters understand it's a business.

never rent to friends and relatives, your the last one they will pay.

get your team in order. 

automate rent collections if possible. 

late payments should be dealt with on a schedule. 

fix anything wrong, thank them for letting you know about a problem. i can't fix what i dont know about.  The domino effect can be disastrous.

after you start to build a portfolio you can delegate the tasks that are less comfortable to you. (at an added cost).

contact Portfolio lenders and start a relationship. for when you will need future financing.

start scanning, studying, and searching for the next purchase. It's a business.

surround yourself with like minded people.  listen and learn. It's amazing what they see and do in there business. 

These are the first thing s that came across my mind while having my morning coffee.

Check out chicken tractors, you move them to keep down the odors and buildup of deposits, actually fertilize the yard. I had them for years and the grandchildren really enjoyed them. My 4 yr old granddaughter is asking for them again. Personally I don't have a problem as long as its within the city ordnances. If a renter is going to invest in the place, I guess they plan on staying a while.

Originally posted by @Theresa Harris:

@Brian Zaug  This is exactly why you tour the property just before closing.  The seller is going to have a problem no matter who buys it.  You have two options: 1) delay closing until the seller fixes it or 2) get a quote and signed contract from a plumber to replace the lines and hold that amount of money back until repairs are done.  I would go for option 2 as you know it is done properly.  The seller pays for it either way, but one way they get most of their money and don't have to deal with the repair themselves.

 Option Two for me!!!!

Contact City Inspector, Tell him you are trying to buy the house and could he explain to you what needs to be done to close these orders.  Those are negotiations to be solved before closing. 

I have done this many times, So far they have been very cooperative and even gave me copy's of the ordinances that needed to be followed.

Here back flow has to be installed by a licensed plumber.

Electricial Inspection , i would think city inspector has to make sure it meets current codes.