All Forum Posts by: Tariq K Frantz

Totally agree! This is a must listen for you - Ashley would be one of my first calls and hopefully mentors.  Best of luck, TK

Any referrals to good HML folks in Oklahoma City would be greatly appreciated. Thanks, TK

Thank you, Frank. Other experienced folks have shared the same opinion.  Best, TK

Scott P, thank you for your response - much appreciated.  Best, TK

Ok Don, thank you for correcting my question.  I would love to hear your answer.  Best, TK

I want to employ the BRRRR strategy on Duplexes, Triplexes or Quads to start as opposed to SFRs (but I may start with SFRs) and want to initially limit the use of my own cash to about $50K/deal.  Using HML for the balance of the purchase price and rehab I'm looking at a purchase price of around $210K:

Purchase price: $210K - HML

Rehab: $40K - HML (assuming $10K/unit on a Quad)

Down Payment: $50K - My Cash (20% of total HML)

Unfortunately, in the various markets I'm looking at, I'm not finding what I'm looking for in this price range. So, do I bring in a partner (which can sometimes lead to a whole different set of issues) and go after larger purchase price deals or do I start with lower priced SFRs? 

Thank you for your thoughts, TK 

What's giving me pause is, the question of to partner or not to partner? I would like affect a BRRRR strategy on Duplex, Tri or Quad to start as opposed to SFR (but I may start with SFR) and want to limit the use of my own cash to about $50K. Using HML for the balance of purchase price and rehab I'm looking at a purchase price of around $210K:

Purchase price: $210K

Rehab: $40K

My cash: $50K (20% of total HML)

Unfortunately, I'm not finding what I'm looking for in this price range.  So, do I bring in a partner (which can sometimes lead to a whole different set of issues) and go after larger purchase price deals or do I start with SFRs?  

Once I have this settled in my mind I will have no more excuses, yes I realize my current question may just be another convenient excuse.

Thanks, TK  

When buying direct from an owner (Seller is not using an Agent) what do you need to look out for, how do you protect yourself?  Thanks, TK

Thank you Brian. I will check on the same with the local credit unions in my market - rates will be better than hard money loans (HML). Best, TK

Thank you, Derek.  Very helpful.  For the reasons you stated I am leaning heavily towards using my cash on the first few deals.  Best, TK