All Forum Posts by: Stacy Fernandez

Calling all investors in Madras, Oregon. 

Looking for cash offers, and would be open to owner financing offers as well. 


The property was built in 2022, is in great condition. I don't foresee this working for flippers. Thinking it would likely be a good rent-to-own option/lease option, short-term rental, mid-term rental, or long-term rental. Price point $420,000

Please reach out for address.

Gift funds shouldn't be an issue if it's coming from a family member and you disclose it with your lender. I agree with Scott seasoning the money in your bank account is wise, it just leaves less questions to be sorted through for the lenders (especially if the amount is more than 10k). Most lenders here in town will use the last two bank statements for your loan qualification. 

I wouldn't limit yourself to only using an FHA loan. I work with lenders here in town that are really good at helping you weigh the different loan options, like Juan said NIFA is a good program to consider. They just came out with a new program if you have higher income limits than the original one.

I'd recommend getting with an agent that can help you find a lender and start working on your pre-approval. That way you know exactly what the bank will need and your next steps. 

If you need an agent, I am one! I believe we have already had some contact through the BP agent request, so looks like we need to get in contact official!

Haven't personally listed any yet, but definitely considering doing so with Furnished Finder. I haven't found a solid cleaning solution for the Airbnb's I manage but longer term stays would help with that issue since it would be far less frequent. 

Following this post though in the event others have had success with traveling nurses/business professionals. 

@Danielle Coleman Regarding BRRRing acreages. It's definitely an option - my dad and his partner did that around Lincoln, NE. They bought raw land them parceled them out as mini-acreages. It did take cash to purchase the land, develop the roads, get utilities to the properties (electric), wells & lagoons - responsibility of the buyers. This was right around Lincoln so I wouldn't call it Western Nebraska Rural but it was technically rural property. If you already have a house on the property you are probably in a better position because you have some sort of utilities - just be aware of how much frontage you need to be able to parcel off lots properly (try to avoid easement driveways and what not). 

I would get in contact with a commercial lender (I have a great one in Lincoln if you need a referral), let them know your plans and what they would require. 

Jan Veran is very popular especially for evictions. 

Hoppe law firm works with Realtors and just in general stays very up-to-date for landlords etc. 

Trev Peterson with Knudson Law is another one, I would say he is more focused on planning and setting up systems. We interviewed him when we first started and he was a higher level than we needed, big development projects though I would go back to him. 

Wow congrats! Glad you are jumping on the opportunity and wish I would have done that better when I was that age! 

One thing to consider is you are growing up in the age of video and if you have any skill making Youtube/Tik Tok videos a lot of investors could use your skills to help scale their business by producing videos for them. If that fits you take those skills and pitch it to your most admired investor in town or person/business you would like to model. You could do it as an "unpaid" intern or you could even negotiate pay. Great resume builder plus you are taking their knowledge and making it into understandable videos, thus in a way teaching yourself. 

Even if you aren't a video extraordinaire you could use that same idea and apply it to skills you have. Any which way you do it surround yourself with people who are doing what you would like to do.

Congrats on taking amazing steps at such a young age!

Welcome to BP Lisa! 

That is awesome about the 4 plex! Multifamilies are hard to find around here these days (at least that cash flow well). 

Have you ever been to the Lincoln meet ups? Often times other local investors will market their deals at them, they have been postponed due to Covid but I believe it's back on for July. 

That can be a great resource for finding properties and I'm also a licensed Real Estate Agent so if you need set up on an MLS search let me know.

Anyway congrats on joining BP this place is a wealth of knowledge and access to resources!

Hello Friends!

Just looking for some advice on an old retirement account and how to start a new one.

I have been self-employed for about a year and half now and putting off moving my old retirement account. At my previous job they had just implemented retirement accounts a few months before I had left. In my account I had about $1200 and to be honest i'm not sure what it is at now but I know I put it on an aggressive plan that has performed poorly. So I think I'm down to around $800. 

I'm not really sure how to get access to my account but I can figure that out when the time comes it is serviced through John Hancock.

What I'm hoping for some suggestions on is where is the best place to transfer the money to start a new self-employed retirement account that I can contribute some of my REALTOR® commissions to and start saving.

I'm most interested in steady returns which is why i'm leaning towards index funds. However in my future I would like to have a self-directed IRA to invest by hard money lending and purchasing buy & holds like lease options or notes.

On the Podcasts I have heard about Betterment, Equity Trust, and other services that seem like a good fit. 

My main goals of a servicer would be: 

• Low fees
• Easily accessible - App
• Integratable with Mint.com
• Easy to contribute to

What are your suggestions and experiences with these companies? Do you have any suggestions or best practices to help me achieve my goals?

CharterWest does secondary loan items like for Fannie Mae. They are really good at those - Shari Barnhill is a good contact. 

Lincoln Federal Savings Bank is also really good at secondary loans. Contact Ron Svoboda he's very easy to work with.

Cattle Bank & Trust is a good local bank that can do portfolio loans, blanket loans, etc - contact Jeff Dewey.

I've also heard Cornhusker Bank is good for portfolio loans I don't have a contact there however. 

Investment Info:

Single-family residence fix & flip investment in Lincoln.

Purchase price: $90,000
Cash invested: $10,000
Sale price: $118,500

2nd Flip!

Found lead on Craigslist - Motivated sellers and would only take $110,000 on the house.
Gave a cash offer of $85,000 they declined.
Needed a signed contract by Friday at 6pm so we sent them a message with a photo of the contract around noon on Friday.
At 5:30pm we were at their house signing a contract for $90,000!

The house needed cosmetic repair including:
- Refinishing the wood floors
- New paint
- Finish basement with drywall, paint & carpet
- Refinish bathtub

What made you interested in investing in this type of deal?

Wanting to build some reserves to later invest in multi-family apartment.

How did you find this deal and how did you negotiate it?

Craigslist - In person cash offer and later via picture message. When explaining what we could pay we mentioned the work we would do to it and the comparable prices and how the amount of work vs the sell price wouldn't meet their requested amount. We ended up paying more than our initial offer (we built in room for negotiation).

How did you finance this deal?

Hard Money

How did you add value to the deal?

Fixed it up so it would sell better on the market.

What was the outcome?

Profit.

Lessons learned? Challenges?

Don't get angry when a first time buyer asks for everything the inspector pointed out - they are just being cautious and negotiation is just starting not ending.

Try to encourage the use of reasonable inspection companies - Some inspection companies treat small things like it is the end of the world and that scares first time buyers!

Don't think just because the fix is cosmetic you have time to get things done - be aggressive and timely ALWAYS!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Cody Brinkman - REALTOR®
Marcus Tooze & Aaron Impens - Hard Money Lenders
Justine Sintek - Charter Title