All Forum Posts by: Todd Fullerlove

Devin, thanks for reaching out. Im looking to secure financing for my real estate business. I’ll give you a call this week. Let’s chat 

Howdy BP friends,

I just relocated to Knoxville, Tennessee, Tennessee. Does anybody have any recommendations on small/community banks that they like to work with?   I own four long-term rentals and always used a small bank in Oklahoma. Looking to make new connections here.

 Thank you sir. Your company has a great reputation around the DFW area. 

 Thank you. I’m looking for more 

Quote from @Tom Dieringer:

Quote from @Todd Fullerlove:

Investment Info:

Single-family residence buy & hold investment in Guthrie.

Purchase price: $257,000

This is a long term rental. This was a primary residence. I purchased this using an USDA loan and asking sellers to pay closing cost. I was able to buy this with no money down. Cashflow about $500 a month.

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

$$$$$

How did you find this deal and how did you negotiate it?

I worked with a great agent, Jorge De Leon. Asked for what I wanted nicely.

How did you finance this deal?

USDA loan with sellers paying closing cost.

How did you add value to the deal?

Letting appreciation do its thing.

What was the outcome?

I have my fourth rental and it’s bringing in about $500 in cash flow.

Lessons learned? Challenges?

Sellers are willing to work with buyer more than most people think.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Jorge De Leon out of Tulsa

 Nice job Todd. Curious, when did you purchase it?

 Thank you sir. I got this in ‘21

Quote from @Todd Jones:

Quote from @Todd Fullerlove:

Investment Info:

Single-family residence buy & hold investment in Guthrie.

Purchase price: $257,000

This is a long term rental. This was a primary residence. I purchased this using an USDA loan and asking sellers to pay closing cost. I was able to buy this with no money down. Cashflow about $500 a month.

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

$$$$$

How did you find this deal and how did you negotiate it?

I worked with a great agent, Jorge De Leon. Asked for what I wanted nicely.

How did you finance this deal?

USDA loan with sellers paying closing cost.

How did you add value to the deal?

Letting appreciation do its thing.

What was the outcome?

I have my fourth rental and it’s bringing in about $500 in cash flow.

Lessons learned? Challenges?

Sellers are willing to work with buyer more than most people think.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Jorge De Leon out of Tulsa

Gorgeous home with a 3 car garage!

I’ve seen similar homes going for >$250k.
Q: How is this city? I’ve seen several homes for sale there where there is no grass but the prices make sense.

 I like the city. I’ve made a good amount of money in this city. What are you looking into?

Investment Info:

Single-family residence buy & hold investment in Guthrie.

Purchase price: $257,000

This is a long term rental. This was a primary residence. I purchased this using an USDA loan and asking sellers to pay closing cost. I was able to buy this with no money down. Cashflow about $500 a month.

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

$$$$$

How did you find this deal and how did you negotiate it?

I worked with a great agent, Jorge De Leon. Asked for what I wanted nicely.

How did you finance this deal?

USDA loan with sellers paying closing cost.

How did you add value to the deal?

Letting appreciation do its thing.

What was the outcome?

I have my fourth rental and it’s bringing in about $500 in cash flow.

Lessons learned? Challenges?

Sellers are willing to work with buyer more than most people think.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Jorge De Leon out of Tulsa

Investment Info:

Single-family residence buy & hold investment in East Haddam.

Purchase price: $40,000
Cash invested: $100,000

Single family property in Fort Worth, TX

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

This type of property is my core focus. I take much pride in bringing distressed single family houses back to their former glory.

How did you find this deal and how did you negotiate it?

We purchased this deal through probate. It took 10 months to close. We agreed on a cash purchase of 40K because that was the tax value at the time.

How did you finance this deal?

A community bank called Chickasaw Community Bank based in OKC. They funded 100% of purchase and renovation. I paid holding cost, including monthly interest only payments.

How did you add value to the deal?

Complete gut remodel. 100K in upgrades.

What was the outcome?

$600 in monthly cash flow, and approximately 100k in equity.

Lessons learned? Challenges?

Where do I start? Most important lesson, It's less stressful to work with a good team.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Chickasaw Community Bank in OKC and Tulsa, Oklahoma
Finishing Touches Remodeling in Fort Worth Texas
Andrew Postell lender Fort Worth Texas

Investment Info:

Single-family residence buy & hold investment in Norman.

Purchase price: $137,000
Cash invested: $26,000

- Standard 20% down rental
This was a pocket listing brought to us by one of the realtors in our network. We had the chance to make an offer before the property was listed on the MLS. We offer full price with a 5K appraisal gap and told seller they had 24 hours to accept. We were able to avoid a bidding war, which makes the property well worth it. The property is located within 10 minutes from Oklahoma University and is producing over 500 in cash flow. I would call this a two base hit!

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

Our goal is to acquire assets we can leverage later in our career.

How did you find this deal and how did you negotiate it?

Pocket listing from realtor
Competitive offer with a short dead line.

How did you finance this deal?

Small community bank and brought in a private lender for down payment

How did you add value to the deal?

Raised the rent and offer a more professional property management service.

What was the outcome?

Cash flow baby!

Lessons learned? Challenges?

Good banking is key

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Allison Wanjon, Flourish Real Estate Group