All Forum Posts by: Drew Smalley

Have you thought out your exit strategy?  The reason I don't like this deal is the land owner doesn't want to sell the land.  In theory this sounds like  this deal could be done just as easy at a trailer park that allows renters and do away with transportation cost.  Also the family deal makes me nervous.

However if you get to control the land indefinitely 2 acres may be able to fit More prefabs on the lots

Also what's the water situation like do you have water access or does a well need dug?

Keep us us posted on how you proceed 

I am about to start my first marketing campaign looking for seller carry back notes.  When selecting dates to search for I curious am what everyones criteria is when selecting a date range or maybe why not just do a scatter shot and get all date ranges?

Hey Cody,  Looks like you didn't get a satisfactory answer on this forum post.  Did you ever happen to find out and good real life advise or source of knowledge?

Will banks give HELC to an LLC? If not are there any creative ways to do this?

@Darrin Carey fantastic I'm going to try to make it out. 

Hello,

So I've decided to invest in the next neighborhood over.  I'm buying SFHs with a goal of owning 10 in the next 5-7 years. Right now I have one (jaw dropping I know). These are 90-110k homes that when the right deal comes along can be bought at around 75.  Cool. No problem I can buy 1 a year with an awesome local savings and loan that currently allows as many as properties as I want at 25% down.  I've run into a bit of a snag I'm about to put another 20k down and then poof my nut is gone for another year.  I guess I'm just curious if there is another way I could accelerate this process because It will take approx 15-16 months to save a down payment? The 25% is the only deal I can find. I've not tried alternative finance. Tips, ideas, rants and rhetoric all welcome.... Thanks in advance. 

P.S.  I'm relatively new to the site please consider adding me to your colleague list

@Wayne SnellI've been very happy with my realtor Chris McAlister Roost Realty. I chose Chris because he personally has a large portfolio of investment property in the Miami Valley also he has an in house Property management team I think he told me like 150 properties under management. I think he would be more in the Springfield area. We're currently working on our second deal with him. Another realtor I know of in Dayton whom I met through the REIA is Sham Reddy. I've not worked with him personally, but I've heard good things and I think he would be worth interviewing.