All Forum Posts by: Tim Macy

You can get in with little or no money, but you'll have to make it up with creativity and hard work! I don't think anybody can give you the answer on how, but I would listen to every podcast and figure out how others have and see what works for you. There are a million reasons why you can't make it, but you just have to stay focused on the reasons you can make it!

I was looking at using the Fannie Mae homepath renovation mortgage to do a live in flip.  Has anyone ever used it?

How was the homeopath process? I want to make a move and try to use one of the rehab loans they have.

Disclaimer: I own no properties. Driving around it really seems like it's street to street. I've talked to an investor that does well in sunrise, I think it's a matter of getting the right tenants. There are plenty of good people in bad neighborhoods. There are some ok looking streets next to war zones.

Thanks for the help @Paul James !  I agree that there is opportunity in every neighborhood with the right plan in place, I would just like to enter into those type of challenges with some experience under my belt.  Correct me if I'm wrong, but neighborhoods like that usually cash flow well with not as much equity capture correct?  I know it's a generalization, but thats just the general premise I seem to see, knowing that every deal is unique.

I'm looking to buy and hold in a lower middle class neighborhood, but I know there are a few that are very bad.  I think Sunrise and Indian Creek are two, but I was wondering where else is a no-go.  I'm definitely willing to invest in a place that isn't too great, but what are the subdivisions that you wouldn't ever go into?

Thanks for the info @Chris Martin after doing some research I started to see what I was off on.  Your detailed info helps.    

I'm planning on reaching out to some different people to form partnerships on SFRs.

They would put the money up and we would split income and equity.  

I plan on setting up an LLC with each partner (planning on having more than one) and hopefully putting any properties we buy under the same LLC. One LLC per partner.

1.) Can/should I stay off the mortgages for the properties?  If my name is on the loans, doesn't that make it harder for me to get loans in the future past 4 properties?

2.) If I'm not on the loan, can I still get my name on the title to make sure I still have control? Or would this be handled in the operating agreement of the LLC?

What does SAREIA cost?

No answer to your question, but some questions for you if you don't mind.

What are your fees like for the hard money loans when you flip?

How has the market been in San Antonio for buying distressed properties?  Is it flooded or is there a fair amount of opportunity out here to get houses well under value?

I'm just out of the military and getting a real estate finance degree and would like to rehab and hold but currently sitting on the sidelines trying to learn as much as I can.

From my understanding, you could buy with hard money, rehab, finance after rehab with a traditional mortgage based on the equity in the house and the fact that you may already have a tenant paying rent.  I think it's tough to get a traditional mortgage on a distressed property and you won't get the rehab costs in there either.  

Again, I have no experience and I'm looking for answers more than I'm trying to give them, but that seems like the most successful strategy I've read up on.  Also, private money from someone you have a relationship with always seems like the best option.