All Forum Posts by: Samuel Genung

@Greg Dickerson

This was very helpful. The area I am looking at is growing faster than my children. Should be able to create residual income, while the property appreciates at a fast pace.

I am currently looking at a open lot with the thoughts of turning it into a parking lot, for sports games and special events. Any suggestions, experience, etc, would be very helpful.

@Jamie Bateman

Funny enough, I just spent the last hour listening to the BRRRR method. Definitely answered this question. Will be refinancing and moving on to the next project. Great advice and awesome strategy.

Thanks!

@Jamie Bateman

The hard money should not be an issue, in getting. How does the refinancing work if I’ve used my own cash up front to pay for this deal? If it’s already paid for, I don’t understand the need to refinance.

@Bruce Lynn

Thanks for all of that.

Will bring a few things to my attorneys attention on the few deals that I am looking at. This will be my first time working an investment deal for real estate. I deal with contracts as a primary responsibility, through my day job, but I assume these will be a bit different.

Truly trying to be as educated as possible going into this one. I have been studying finance route for the most part, but the location of this place and the possibilities of working the price down, makes this property desirable.

@John Teachout

Ok, say in the case that I do have the proof of funds, how exactly are the payment terms typically structured? Monthly payments? Lump sum?

@John Underwood

This is great information.

I am very new to this. I am assuming that the seller is not wanting me to show up with a couple hundred, hundred dollar bills or even a check in that amount. How will the seller expect a cash payment? Is this done through ACH wire?

Thanks.

Hello all,

I will be looking at a property in a neighborhood that is in a great location for near future growth/very easy commute to downtown. The house is a 4-plex style that is very old and would need quite a bit of work. Let’s go with $100K in repairs. The only issue that I am finding is that the seller wants cash for the deal. I have used financing to purchase a house, but I have not used straight cash, which is making me a bit hesitant/not really sure how to move forward if say I wanted to buy the house.

Any help would be greatly appreciated.