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All Forum Posts by: Sarah Melton

Sarah Melton has started 2 posts and replied 25 times.

Thanks so much to everyone who has commented and already had a conversation with me, every little bit helps!  Overall I would say we are not looking for bank financing we are likely looking for a private lending group.  I know this is a one in a million shot that someone on here knows what I'm talking about (or that it exists) and also is willing to share their contact but I thought I would try!  Thanks again to everyone who's already contributed.

@Eric Veronica Thanks and I am messaging you now!

@Andrew Postell  Thank you and I just PM'd you to learn more!

Does anyone have any lenders they use or have heard of for long-term financing for lower value loans between $30-50K?  There are so many great cash flowing properties in the midwest that don't need any work and are in decent areas that fit in this price range but we can't seem to find a lender to meet this market demand.  We can bundle many of them together to meet a large minimum (i.e. 2 million), if that helps too.  Thanks!

Post: Long term Success in Real Estate

Sarah MeltonPosted
  • Akron, OH
  • Posts 25
  • Votes 14

@Tandi H.   I really work from a perspective of systematizing everything and the beginning is one of the best times to at least wrap your mind around how you want things to look in the future and work backward from there.  I almost think of real estate as a web because you have the core property but there are so many aspects to finding it, closing on it and maintaining it to consider.  I just broke down each faction of the process and started considering how to make it automatic through a lot of self-education.  For example, you said you are property managing and finding deals.  Unless you love those aspects of the business I would look for a way to at least have the option to take those off of your plate.  Property management is probably one of the easiest things to start with because if you don't want to manage the properties eventually, make sure property management costs are included in your buying numbers now and are in neighborhoods that property management will work in.  You don't want to get to the end and have enough properties to get your husband out of work to only realize you can't turn over the property management side.  You might continue to do all of the duties in the beginning but if you change your mindset to start looking for ways to either get others to do the jobs or find automatic ways to have it completed I think that is key.  Sometimes it's just about making things easier too like finding a good Title company and doing all of your deals through them because then you don't always have to be sending the same documents every time.  Also, it's not a new tool but I've recently discovered the power of customizable programs like Podio in my own goals, as one example, which could help you in the processing and tracking of finding deals too.  I hope this helps!  

Post: Long term Success in Real Estate

Sarah MeltonPosted
  • Akron, OH
  • Posts 25
  • Votes 14

I know this is basic advice but treat it like a business from the beginning.  So many people treat it like a hobby, where they look for or do deals whenever they feel up to it and that won't work long term or lead to success.  Also, keep in mind what your end goals are.  Meaning, if you want to retire start setting things up in the beginning to make the business run by its self eventually, instead of just owning a job and having to rework everything again later to actually achieve your goals.  

Post: Turn-key rental portfolio For sale Ohio!

Sarah MeltonPosted
  • Akron, OH
  • Posts 25
  • Votes 14

Hello!

Is this portfolio still available?  Thanks for your time.