All Forum Posts by: Stephen Callaway

Hello everyone, I am an aspiring investor in Ohio who needs help. I understand I do not have much on my account but please don't let that factor into judgement. I have been working on a deal now for roughly 2 months. It is a 6 unit apartment complex that is in great shape but needs some updating in the living space. I have done my due diligence and the numbers are great. I have been spending virtually every waking moment trying to get this deal to close. After offering nearly a dozen deals that include seller financing, the lady just really wants to get rid of it in a conventional manner. In short this is a deal any investor could not pass up on. From buying in with massive equity to cash flow to ARV this is a grand slam. The lady is not an investor and purchased it for a member of her family who wanted to invest and has since taken it back into her possession. I do not have the funds for a DP to purchase with a traditional commercial or hard money lender. Does anyone have any tips on how I can get the DP or know of any lenders or creative ways to finance this deal? I have been looking non stop and have pitched the deal to several family members but to no avail. I am willing to do whatever necessary to secure this investment but I simply can't get it done. If anyone has any further questions in order to guide me to serious help feel free to ask.

Hello everyone, I am an aspiring investor in Ohio who needs help. I understand I do not have much on my account but please don't let that factor into judgement. I have been working on a deal now for roughly 2 months. It is a 6 unit apartment complex that is in great shape but needs some updating in the living space. I have done my due diligence and the numbers are great. I have been spending virtually every waking moment trying to get this deal to close. After offering nearly a dozen deals that include seller financing, the lady just really wants to get rid of it in a conventional manner. In short this is a deal any investor could not pass up on. From buying in with massive equity to cash flow to ARV this is a grand slam. The lady is not an investor and purchased it for a member of her family who wanted to invest and has since taken it back into her possession. I do not have the funds for a DP to purchase with a traditional commercial or hard money lender. Does anyone have any tips on how I can get the DP or know of any lenders or creative ways to finance this deal? I have been looking non stop and have pitched the deal to several family members but to no avail. I am willing to do whatever necessary to secure this investment but I simply can't get it done. If anyone has any further questions in order to guide me to serious help feel free to ask.

 Thanks James. Just listened to your feature on the podcast. A lot of great information. 

Sorry here's the link lol http://www.mtgprofessor.com/A%20-%20Amortization/Is%20the%20Mortgage%20Front%20End%20Loaded.html

I just read an interesting article on this topic actually. Click the link to read. I think it has some good points in it that explain "why" pretty well.

Hello everyone. My name is Stephen Callaway and I'm from a small town in Ohio. I am looking to get started investing in real estate hopefully by next summer! I have done plenty of research on this site and I am also a big fan of the Bigger Pockets podcast. The reason for my post is to seek advice on investing in my type of area. Sales are way down and houses are dirt cheap. The average rent in the area ranges from $550-$650 per month and your average home in the area I am looking to invest in range from $15,000-$50,000. Rental properties are sweeping my area as most people in the area rent and the seasoned guys are out there taking advantage. I wanted to go the route of flipping homes because of the potential profits and scalability which I believe is key in exponential growth. However, almost no family's are buying in my area, they are simply renting. So my question is whats the best way to acquire rentals with little capital and build a nice, big rental portfolio. I would like to have dozens if not hundreds of rental properties and along the way have enough income from those to find out of town deals in an area where it is a buyers market and begin flipping houses. So what is the best route to take to be able to acquire massive amounts of rentals from a financial standpoint. Some additional information: I am 21 years old, I want to start by next summer when I am 22 with $10,000 of my own money, my dad is in the business with 11 rentals of his own so I have experience with field work and dealing with the tenants. Any information would be useful guys and gals. Thank you for taking the time to read this and even if you provide a link to a similar thread, anything is appreciated. Happy investing!

Hello everyone. My name is Stephen Callaway and I'm from a small town in Ohio. I am looking to get started investing in real estate hopefully by next summer! I have done plenty of research on this site and I am also a big fan of the Bigger Pockets podcast. The reason for my post is to seek advice on investing in my type of area. Sales are way down and houses are dirt cheap. The average rent in the area ranges from $550-$650 per month and your average home in the area I am looking to invest in range from $15,000-$50,000. Rental properties are sweeping my area as most people in the area rent and the seasoned guys are out there taking advantage. I wanted to go the route of flipping homes because of the potential profits and scalability which I believe is key in exponential growth. However, almost no family's are buying in my area, they are simply renting. So my question is whats the best way to acquire rentals with little capital and build a nice, big rental portfolio. I would like to have dozens if not hundreds of rental properties and along the way have enough income from those to find out of town deals in an area where it is a buyers market and begin flipping houses. So what is the best route to take to be able to acquire massive amounts of rentals from a financial standpoint. Some additional information: I am 21 years old, I want to start by next summer when I am 22 with $10,000 of my own money, my dad is in the business with 11 rentals of his own so I have experience with field work and dealing with the tenants. Any information would be useful guys and gals. Thank you for taking the time to read this and even if you provide a link to a similar thread, anything is appreciated. Happy investing!