All Forum Posts by: Timothy Woodland

Hey Matt, Still available? 

Thank you

Hey everyone, I found a duplex in my area where the homeowner is fed up with maintaining the property and wants out. Her tenants are also moving out. The house needs some work but in its current state rents for 3,000 combined with a ARV of 350-380. She bought the place four years ago with 5g down and price was 258000. Also: it has to brand new water heaters.

I have researched several homes in my area that are in nice neighborhoods yet the houses I've found are still very outdated and the homeowners are a little older. I am looking for advice on how to approach this situation where I would be talking to these homeowners about potentially buying there homes. I do not want to offend them, rather I would like to try and build a relationship and find out what there motives are and see if I have a solution, whether it is to buy the home cash or some alternative.

What have you found that works with warming up to these homeowners without being too blunt about wanting to buy the home cash.

Thank you!

I have been using the public records a lot to search through and find properties with homeowners who may be open to discussions about selling their homes. I have spent hours on the site looking for opportunities but am not sure exactly what the best property to look for is.

When searching through the public records for a particular town, there is a column that says "type description" and lists things such as "discharge, mortgage, affidavit....etc.   Is there one particular type that I should be searching for that would indicate that the homeowner might be in distress and therefore looking to sell?

I have been listening to a lot of BiggerPockets podcasts and have been hearing the term syndication a lot. I'm curious as to how these work. The reason I am looking to become educated on this topic is ultimately I would like to structure a deal for apartment buildings in the future. That being said, how would one structure a deal with an investor(s) when what one is offering is sweat equity/hustle in the deal. 

Are investors interested in working with others who can bring certain qualities other than money to the table? If so, what types of qualities do experienced investors look for in partnerships? 

Thank you for all of your input. Very interested in building out my portfolio and I did utilize the FHA 3.5 down. I caught Brandon's latest webinar on 3 strategies to invest with little money down and that was also very helpful.

Have a great Memorial day weekend!

I recently financed my first 3 family using an FHA 3.5% down loan. I am looking for advice on how to set myself up to expand my real estate portfolio given that I have such a high LTV % (96.5%). I would like to continue to purchase mutli families and my strategy is to live in one of the units while improving it then move to the others and do the same(I believe its referred to as house hack).Obviously banks may not lend to me given that percentage so I understand that hard money lenders may be the only feasible option. Does anyone else have any advice or suggestions?

Thank you

I wont be around on Sunday.... birthday brunch with the family. Lets connect soon.

Coffee tomorrow morning in Haverhill?

I will be closing on a 3 family in Haverhill, MA in Mid May. I was looking for advice on how to buy the right insurance. I've been told to shop around but other than that I have no knowledge of what to look for??