All Forum Posts by: Samuel Watts

@Christopher Foote I'm having pretty good luck now. Have found a few lenders who will work with me and will allow me to pull out up to 85% of appraised value (drive-by appraisal) with no seasoning period. Most I have talked to didn't want to do it because it was such a short-term loan and they wouldn't be able to make much return on it. 

I am interested in getting a fix and flip line of credit though. Are you familiar with how those work? 

Jeff, I am working on that now with a lender but they're moving really slow and I can't find many that want to do it on a short term hold, most are wanting to do it on a long term hold only. 

@Jeff Brower I should have mentioned that these are flips, no intentions on holding.

Hello! I currently have 2 houses I have purchased with cash and have just started renovations. I have enough cash to complete the flips but would like to pull my equity out now so that I can purchase more properties and keep the ball rolling, instead of waiting for the properties to close to free up funds. 

I have talked with quite a few lenders in my area about doing cash-out refinances or lines of credit on the properties but it has been tough finding a lender to lend on properties that I don't intend to hold as thats where they make their money back. 

Is anyone else doing something similar to free up their money without using a hard money lender? One lender I have spoke to is willing to do it for 1% of the loan value plus appraisal and recording fees. This is pretty good but I wanted to see if anyone else is doing something similar. 

@Antonio Coleman are facebook ads still working for you? I have had little success with them and am wondering what I need to do in order to get them "right".

What part of town is it in? 

Buyer leads are easy but seller leads seem to be a lot tougher. To get buyer leads you just need to advertise a property you have for sale. 

I can't figure out a way to target potential sellers very easily. If someone is having luck I would love to hear what you are doing!

I am looking for a multifamily property in the Covington area. 4-20 units up to $450k. Don't mind if it needs some updating but don't want a total gut project. Please let me know if you might be thinking of parting ways with a property or know someone who might be!

Hey Aaron! Is this still available and Is the property in need of any major repairs?

Hey Joe! Can you explain more about how to sign up with a credit bureau and how this works?