All Forum Posts by: Tim Bratz

Hey Devin!! Welcome to BP. I'm based out of Charleston and happy to connect. Creative financing is how deals are getting done these days!

Hey Rose!! The best property to invest in is one that matches your goals. Also, one where you have a familiarity with the area. Happy to connect!

Marilyn,

Welcome to BP!! I have buildings in Clevleand, OH and in the Southeast. Happy to connect

Hey Troy! Welcome to the BP community. Love your thinking in terms of renting for the long term benefits. A lot of people only think about the short term, and how they can benefit now, rather than how they can set themselves up in the future. Long-term mindset is the way to go. I have a lot of properties in the Southeast and would be happy to connect further. Best of luck!

Welcome Patrick! You've come to the right place for advice. Feel free to connect. 

I think when you send a post out saying, "should I kill the deal?" you kind of have your answer! Haha, at least in your own mind. It can be hard to convince yourself to walk away from a deal, especially when you're just getting started. 

#1 biggest thing to find out is who subsidizes the tenants. That's huge. If it's a local organization, they typically act as the case worker for the tenant to get assistance. The owner generally has a few documents (change of owner and payee) to complete and then an annual inspection. Not bad. If it's HUD directly, it's much more involved and you have to be the ongoing case worker for your tenants. Can be awful.

Absolutely!! 100%!!! It's seller financing and it's how a lot of deals are getting done these days. 

Markets always cycle with different investing strategies. I acquired and repositioned over 5,000 apartments using the BRRRR method. But that was before interest rates increased so dramatically. The BRRRR doesn't work with higher interest rates, so you need to change up your strategy based on what sort of financing is available.

We've pivoted heavily to a lot of creative financing strategies like: seller financing in first lien position, seller financing in second lien position, seller coming back in as our equity investor, loan assumptions, installment contracts and more. 

The key skillsets to learn are: how to market and find deals, and creative finance. If you have multiple tools in your belt with those two skillsets, you'll be able to do deals regardless of market conditions. There's a lot of great conversations in the BP forums in order to learn more strategies along those lines!

I've been buying larger commercial deals for a while, but I still acquire a unique short term rental property on occasion. I've found the best financing will typically come from a local bank. If you're looking for an asset-based loan, that lends more based on the property than you as an individual, then these terms seem to be right in line with what's out there right now. 

If you need a great resource, DM and I can share some folks who can help.