All Forum Posts by: Steve Bale

If so, how are you determining the best location for that zip?  

Steve

Rock on!!

@Yaniv Sigler, 
Welcome. I am doing similar. Add me if you like.

Steve

@David Brizendine

Thank you for the response. 

Aside from the deal itself, managing the managers and a cut of the monthly cash flow - I don't know what would be considered 'attractive'. 

Great example. 

I am assuming you have experience in above deals. Would this be more of a syndicated deal or a private lending situation, or are these more or less one in the same when attempting to attract other investors ? 

Steve

A realtor, introduced me to a builder who happened to be building duplexes (he no longer builds). When it was done, and financing secured the final price was 633k. Currently, it grosses $5,500/mo. This will probably be the best deal I will ever do. My out of pocket costs were around $4,500. 

Apologies in advance if my terminology isn't 100% accurate - I am still learning.

I am a total newbie, I have completed only one buy and hold deal in Los Angeles (duplex). I am working to accomplish number 2+. On Friday, I received a listing with a few potential rentals that are under construction. They will be finished over the next several months. How do I take advantage of this opportunity?

Securing financing through conventional means, (assuming 5% down and primary residence) might work for one but not the second and beyond. In addition, I have no rich relatives - so borrowing large sums is not an option.

That leaves private lenders and creative financing. Currently, for me both are uncharted. Would I start by Google-ing 'private lenders' and submit applications or is there a more effective method to locate financing? Do they generally expect 20% down and is the rental income a driving factor? Any input would be greatly appreciated.

Thank you for your time and advice.

- Steve

My real name is Steve and I am a database programmer by trade. I am originally from the Bay area and currently reside in Encino. My background in real estate totals to one buy and hold duplex, purchased Feb of 2016. My goals are financial freedom through flipping and buy and holds. 

Simply put, like any other newbie - I have 1.3 Bazillion questions.