All Forum Posts by: Robert Shortsleeves

@Juston Clymore I suggest you reach out to a broker that is familiar with creative ways to finance deals that most banks would laugh at. Personally, I work with Patrick Stoy Founder and President of MC Mortgage Group https://www.macmtg.com/. His is an investor himself which means he understands what you are trying to accomplish and can give you multiple options on most deals. Most banks have their few loan products and don't like to move outside that self imposed box. As a broker, Patrick can shop around and has a strong network of lenders that can get the job done. 

@Lawrence Gillett your best bet is to get in touch with @Daniel Kidd with the Five Pillars Realty Group.  He'll walk you through the nuances in this market and keep you on track through the entire process. He is an investor himself and specializes in working with out of town investors. I've worked with him on a few deals and I can't ask for a better agent to have on my team. 

When I met @Joe Prillaman he introduced himself as "average Joe". As we can see, Joe is not so average. I'm doing me best to follow in your footsteps brother. Working on a BRRRR now. Just going to add a door and closet to an addition and BOOM, 2/1 turns into a 3/1 = forced appreciation. Should be able to pull all my cash out and keep it moving.

@Dustin A. Great work! I've been working with @Shelby (Osborne) Johnson and the Five Pillars team for while now and I couldn't ask for a better group of people to work with. Highly recommended! With a single phone call I was able to get my core four lined up (rock stars know rock stars) and start making offers. Daniel Kidd and I closed on a SFR about a month ago and now have another under contract. Planning on BRRRRing a turn key. :)

@Josh Wagner

@Mark M., Josh is working with a PM/GC that is extremely trust worthy and has a great reputation within the Fayetteville REI community. He can handle your rehab then manage it for you. I met him at the last Pints and Properties meetup and may work with him in the future. Josh can also help with finding your next deal.

@Josh Wagner, can we connect Mark with your rock star?

Hey Gregory,

Always glad to someone getting motivated. 

Answers:

1. A great BP "quiiiiiiik tiiiip" is setting up key word alerts. I started with my county and surrounding cities. This will give you some clarity on your specific market and help you network with local players.  http://www.BiggerPockets.com/alerts

2. https://www.biggerpockets.com/store/how-to-invest-in-real-estate-ultimate @Joshua Dorkin and @Brandon Turner did a great job breaking down the nuts and bolts of what is required to get started. Highly Recommended! 

3. Useful Terms https://www.biggerpockets.com/rei/glossary/

Useful abbreviations https://www.biggerpockets.com/rei/real-estate-abbreviations/

@Gregory DeRosso getting over the fear of failure was a result of education. Now that I've consumed a ridiculous amount of REI information, I'm ready and will be closing on my first deal this month. You're moving in the right direction. Just keep grinding.

Preparation Eliminates Fear. Well... for the most part. :)

@Chalie Krautkramer I’d like to see the Fayetteville growth video.

@Aidan Mulligan I’m working with ShawnHuss.com at Chemical Bank. They do not have a minimum loan amount. They are focused on an enduring partnership and not a single transaction.

@Jeremy Wirths I've been working with Mr. Kidd and I pushed him shawnhuss.com with Chemical Bank. They do not have a minimum loan amount for either of their cash out refi products. 30yr fixed delayed financing is at 5.75 as of yesterday. This is the only lender I've been able to find thus far.