All Forum Posts by: Ryan Peach

@Paul Hurtubise I know a few contractors in the area. Let me know any details you have as far as your needs and I’ll send what I can your way.

@Shaune L Clark II Hey Hey! Welcome to the Evansville BP community. I’m a realtor and REI in the area. Best of luck and if you have any questions hit me up. I love helping fellow REIs reach their goals and take care of their fam. The Evansville BP is small, but growing fast. Glad to have you a part of it!

@Jose Trevino welcome to BP Evanville! My wife and I are REI in the city as well. Would love to meet up and talk about all things Evansville. Let me know if you’d like to get together! Cheers!

Had something just come up. Won’t make it gang but please keep me in the loop on future meet ups. Enjoy tonight! 

So when and where? I like coffee, bourbon, and beer. Lol

I was wondering when Derrick Powell was going to chime in!

Rough year my friend. Ok, here we go. 1. Continue to connect with and love your kids. Money/financial freedom will never replace them. You know this. 2. Continue to love and respect your (ex)wife. She spent a lot of her life pouring it into you and visa versa. Your kids will thank you for this someday as well. 3. Real estate: there are a 1000 ways to do it so just pick one you are comfortable with. I started with single family because it made sense to me. I did “construction loans” because they required no money down. There is only one wrong way to do real estate (or anything for that matter) and that’s half-assed! You have earned and been dealt a tough hand. Own it! It’s your hand. The good, the bad, and the ugly are all yours. If you own all of it then you own the ability to fix it. “Don’t cry to quit. Cry to keep going. You are already hurt. You are already in pain; get a reward from it!” - Eric Thomas One additional piece of advice.... “Have the Conversation” What I mean is call the banks and see what loan options you have. Call the listing agent on Zillow to get more info on the house and the buying options. Call your wife and see if there is anything you can do to save the marriage (if that’s what you want). Have all of these tough, deep, uncomfortable conversations. Don’t stop at doing the research. Don’t stop at writing this post. Have as many of these conversations as you can and then do something with the info you’re given. The BP Family is here for you! I’m here for you! You’re not alone! Take one big ***, scary step after another and before you know it HAPPY will be a reality. Much love to you my friend!

Chris Mason do you have an resources where I can learn more about these loans?

I currently own 3 rentals (4 doors). All have mortgages, but all properties cash flow. The last property I purchased was a duplex and the gentleman I purchased it from has 5 additional duplexes that he is willing to sell as one deal. The numbers look good (Purchase and Reno cost of $300,000 and $4500+ monthly rental income). My concern is getting the funding for this deal. My previous deals were all done through construction loans so no money down, but I had to drop nearly $10,000 of my own money into the duplex because of unseen issues. That was all of my cash!!!! I do have over $30,000 in a 401k, but I would like to keep that money there if possible. I have heard of converting a 401k into a self-directed 401k which would give me access to those funds without penalty. That would still only be 10% down I would need $80k-$90k for improvements. My questions is....

What are my lending options?

What have you done that has worked in similar situations?

I’m down!