All Forum Posts by: Shaun Palmer

@Luis Suarez

Thanks Luis for the quick reply.

Hello BPer's

I am taking a look at some properties in the Raleigh area and am starting to look at Foreclosures. It seems that there are a lot of sources to find Foreclosures but they all have a cost to them.  Rather than try them one by one, I am wondering if anyone can provide some input on the following sites.  Thanks in advance

Hello BPer's

I am currently in the Raleigh, NC market looking to find a new bank/broker for financing long term hold projects in the <100k range. Most likely be focusing on the BRRRR strategy type of financing. Does anyone have any suggestions/recommendations that they wouldn't mind sharing? Obviously if it works out, I would be using this financing method in the future.

Please let me know and I appreciate any thoughts that you have.  

Thanks,

Shaun

@Graham Parham

Thank you.  I have not listened to is just yet but will tomorrow if I have a minute. 

@Eric F.

Thanks for the help on the monthly rental rates Eric.

Thanks everyone for the great advice on these types of homes

@Eric F.

I was just using what is on rentometer at the moment.  Rents are typically in the area of about $600 but maybe they can be adjusted.  Before I would dive in, I would really complete a market analysis for these types of homes to see what rent can be justified.

@Yany Rivera

Thanks Yany

@Rocky V.

Very helpful again.  My expenses and capex numbers are very low.  I think I am going to run them again once I can spend some additional time on them.  I would like to run them by you if you have some time.  Might be a day or two before I can.  

@Rocky V.

Again...Thanks for all the helpful info. 

Is your capex of 18% annually or is that a one time capex fee? Taxes are similar in my area as well (a little lower).  

 I am looking at financing but am also thinking of purchase in cash on some.  

I am curious, with the conventional bank financing typically not going below $50k (est), have you been financing these properties using conventional financing?  Also, on the back end, are your refi'ing out of these properties and if so, are you seeing resistance on the low refi options from banks on the back end?

Thanks