All Forum Posts by: Shedrick Boyd

@Fred CannonGreat to know, I’m curious how are you marketing towards these individuals? What kind of lease are you putting together as well? 

@Emily MartoranoAwesome, thank for the response! Good luck on building your empire!

@Bridget BrazeltonGreat to know. Thank you, I love hearing this stuff. I definitely need to do some more research but condos might be my only option. You familiar with some other options for investing in the Denver area or surrounding??

@Bridget Brazeltonthats awesome and great to know. I've seen some very interesting complexes with HOA varying. Condo I looked at at $300 HOA and was terribly managed and literally falling apart. Also seen low HOA with great management and maintenance. I see a lot of Airbnb in the Denver and surrounding area, I'm curious to know how they are able to make it work?

@Emily MartoranoWhat are you looking for in particular?? Single family, multi family???

What are you looking for in particular?? Single family, multi family???

Currently in the market for my next investment property. My biggest objection is my market (Denver) is so expensive it's hard to make the deal work. Only properties I can make numbers work are Condos....Goal would be to turn it into short-term rental/Airbnb. Any thoughts about condos, HOA, would love to hear from anyone who may have condos as part of their portfolios

After hunting for this deal I finally had the opportunity to meet with a motivated seller! The seller has a multi family 4 plex that he is desperate to sell....

Each door is a 2Br 1Ba, and rent for around $1000 a month. The entire property brings in $4000 a month in rent. 
The seller said that this property appraised at $400,000 and he is willing to sell it to me for $345,000. 
After looking at the property, they are currently rented out in year long lease, move in ready, and have had recent rehab jobs completed. I have done the math and I’m estimating my expenses to be around $3000 a month and a monthly cash flow of $1000 a month. 

On paper this is a great deal, but I have not been able to find funding as this is my second deal, no one is willing to work with me. The seller is open to carrying the mortgage and doing a seller financing but wants me to pay him cash what equity he has. Seller currently has an existing loan $210,000 leaving him with $195,000 equity. Still don’t have $200,000 in cash to give him to make this deal. 

Currently stuck and reaching out to as many people as possible. Any creative ways of making this deal feel free to share! 
If there is a problem, I’m gonna have to hustle for my solution!👍🏽

After months of research and studying, I have decided to look for potential sellers open to alternative options for selling their property.

Tracked down a property online to a LLC and then got ahold of the owner. I asked if they thought about selling and his response was that he was planning to list not one, but 3 properties for sell! I then asked if he was open to a different option of selling such as "Subject To" or "Owner Financing." He also being a real estate investor said he would be open to other options.

I have not yet looked at either of the properties in person but we agreed to meet and look at the properties after the holidays. This is my first deal with Subject To financing as an option. I want to give an offer and negotiate a win/win for both of us. My goal is to have a better understanding and a offer ready once we meet after the holidays!

I can’t wait for this learning experience, any information and insight would be greatly appreciated!

Thank you so much for your response! I will for sure do some research on subject to financing! Can’t wait to share my experience