All Forum Posts by: Steve Sorensen

I currently own two properties, a triplex outside of Minneapolis and a SFH that I'm house hacking in Denver. Looking to start building a portfolio in another city/state and I've narrowed it down to the following cities based on the following video (which I thought was great because I like being able to look at hard data):

https://www.youtube.com/watch?v=J-5akkEKzG0

Anyone have any thoughts and/or experience in the following cities?

• Conroe, TX
• Franklin, TN
• Buckeye, TX
• Fort Worth, TX
• Austin, TX

I'm in the early stages so I have plenty of my own digging to do but wanted to see if anyone had any insider knowledge as far as any of these being hidden gems or no-go cities for some reason I haven't seen yet.

Thanks in advance!

Wow I'm sold on the hard surface! I was toying with LVP or something hard instead of carpet but was going to look into it separately from this post but I think there's enough consensus here to go right to a hard surface. Thanks all!

Looking to put carpet in a couple bedrooms in an AirBNB. They rent the entire house and I do month-long rentals so I don't want to go with bottom of the barrel carpet which is what I was planning to do at first. Anyone recently bought carpet and pad from Home Depot that's they've found was a good bang for their buck? It would be easy to just say get the cheapest since it's a rental but these people are paying $4k+/mo. for a 3 bed house so I want to provide at least decent carpet for them.

@Chad Duncan The intent would be to buy the property with a small down payment as this opportunity came unexpectedly and my down payment funds are currently allocated toward another purchase. From what I've heard on the podcasts the low down payment would be a big part of the reason to use seller financing but none of the example deals seem to have the low down payment I'm looking for. Obviously I could always try and negotiate it but it sounds like that's unlikely.

I have a seller financing opportunity that I'd like to pursue. I'm looking for some examples of terms that have worked for people:

• Any down payment?
• Interest rate on the loan?
• Term (years) of the loan?
• Any other terms I'm not thinking of?
• Any other advice from those of you that have successfully completed a seller financed deal?

Looking for real numbers from an actual deal if you're willing to share them. Thanks in advance!

Hello! I'm looking for an experienced contractor to partner with on my first full flip; I own two properties and have done minor renovations to those properties but this is my first full flip with a full rehab so I want someone with experience to assist as I learn the ropes. Any suggestions?! Thanks!

Exactly, I'd like to purchase another property within the next few months since I'm not eligible for an FHA loan until next year.

My plan right now is to go with a 20% down investment loan because I believe my current network is better setup to go that route. That being said, I'm still in the process of developing the details of my financing...I'm currently having conversations with lenders and still have to approach my potential investors, so that could change. I'll have a more firm plan in place within the next week or two as I continue to have those discussions...I'm open to lender references as well!

Awesome thanks for the feedback everyone!

@Alyssa Dyer I’m probably not going to be able to go with 5% down on this one, looking to finance using investor money for at least the down payment.

Hi, I'm currently working outside OKC and will be for the summer/fall. Originally from MN, I'm considering buying a rent and hold multi family property (four plex ideally, probably BRRRR) in the OKC area, so I'm looking for an experienced agent as well as good investor groups/meetups that I can join. Would love some suggestions, thanks!

My background: relatively new to REI, I purchased my first triplex with an FHA loan outside Minneapolis at the end of January which is going relatively well so far and I'm looking to make my next purchase sometime in the next 3 months. I still have to put the financing together so I'm looking to have some preliminary planning discussions that will ideally lead to one or more property purchases.

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $272,000
Cash invested: $11,045

Used an FHA loan to purchase my first triplex. Plan to house hack it for a year then rent out the entire property.

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

I was originally looking only at single family homes because, being new, I thought I could only buy a single family home with an FHA loan. This opportunity was presented to me and I put up a post on the BP forum and got several responses explaining that the FHA loan would work for this unit as well.