All Forum Posts by: Ryan Dyess

@Scott Wolf In Virginia. What role would the attorney be able to play? Would he draft the paperwork needed and the transfer of title to where I would just need a title company to handle the title check and closing? Thank you for your reply

I have a coworkers family member who lost her husband and she is not able to make her mortgage payments. The house is in need of an update. She found out that at the start of Covid the deceased husband took the forbearance that was offered on the mortgage so it is 10mo in arrears. I am interested in a potential subject to but how do I go about finding a title company that will handle this closing and paperwork? The few companies I messaged said they do not. 

The numbers

Owes 130k

Needs 30-40k in updates

ARV 250K

How would you structure this deal? Would love to hear everyone's opinions on what they would do.

As an upcoming apartment investor/syndicator I do not have a problem solving "rolodex" of how to handle the many things that could go wrong in a deal. I would love to start a conversation of people sharing stories of mistakes they have made or problems they have encountered in deals they have done and how they have learned from them. 

Looking forward to learning from you all!

The real estate industry seems to be centered around your network and who you partner with. Most recommendations that are given to find partners or to make connections are "Find your local meetups". In my area, in person meetups have all gone virtual. In my experience to gain trust and make a genuine connection with individuals, it needs to be done in person. My question for you all in the BP community is, how have you had success networking and finding partners during the Covid virtual era? 

Good morning BP community! I am hoping to get some clarification on @Brandon Turner's tactic on stacking multi-family. He says your first year buy a duplex, the following year a 4, then to an 8, 16 and 32 unit apartment to be financially free at year 5. I am interested in learning if anyone has used this strategy and if so how you financed it. We could do the duplex and 4 unit because of the ability to use a conventional loan since anything under 4 units is a SFR in a lenders terms.

If I had the 4 unit and the duplex that would put me at 6 doors. The average of net $100-200/door would put me at $10-11k/year net. That would take a while to earn back the initial investment from the down payments. Definitely not by year 3. Could someone advise on how they have funded an 8+ unit building? I am learning/studying/networking to get into the syndication world. Does anyone who owns over a 4 unit building have a network of investors to treat it like a syndication? Looking forward to diving into this subject with some experts in the industry!