All Forum Posts by: Travis Sperr

You are probably about 10 days late to accomplish with our paying discount points.With respect to the BP positing rules, I am happy to provide a great lender in CO Springs if you send me a message. 

I would be happy to share a local contact - but wont allow me to in this post - send me a message.

@Jeremy Leech reach out anytime, happy to connect. 

@Josh Norell You hit the nail on the head with doing your own due diligence, this is true with any property you purchase wholesaler or not, because at the end of the day you are taking the risk not the wholesaler or agent in the deal. Specific to NWA, they move a lot of properties, as a lender I have funded quite a few but have also looked at deals where there was little or no profit for the buyer. Two things to keep in mind as a new investor, 1. NWA is typically requiring $10k non-refundable when you go under contract, if your numbers are not tight you will not find financing and put your money at significant risk. 2. true with most wholesalers right now - if you are seeing it in an email, that means a number of experienced flippers have already looked at it and passed on the deal. Neither of these points mean that you can't be successful, just be careful on your first couple of deals. 

I suggest that you practice running numbers on a handful of houses that you have no intention of buying ( it takes the emotion out of it) - get proficient at ARV and repairs, those are the two places people get hurt in this business and oddly enough the two numbers that as investors we are so willing to trust and not verify.

I have seen delayed financing that will allow for a percentage of purchase and repairs, but nothing with conventional pricing that will allow cash out in less than 6 months or that goes up over 75% LTV. If your deal flow is strong enough that the delay in getting your money out is causing an issue, you are way better off purchasing with a private/hard money loan, pay a couple points and interest, but get the refi done immediately at a higher LTV.

@Whitney Hutten This deal is in Montbello, northeast Denver. I didn't realize that adding my deals to my profile created a public post! 

Investment Info:

Single-family residence buy & hold investment in Denver.

Purchase price: $72,000
Cash invested: $8,000

Forth rental property - hard money - buy, fix, fill, refi - before it had a cool name (BRRRR)

Bought from wholesaler

Typical rehab $25k +/ - floors, paint, bathrooms, etc. just enough to make it pretty and rent ready.

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

buy and hold

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

Wholesale Deal

How did you finance this deal?

Hard Money - Conventional refi

How did you add value to the deal?

Rehab

Investment Info:

Single-family residence buy & hold investment in Denver.

Purchase price: $75,000
Cash invested: $6,000

SFR - BRRRR

Third rental property - hard money - buy, fix, fill, refi - before it had a cool name (BRRRR)

Bought from wholesaler

Typical rehab - floors, paint, bathrooms, etc. just enough to make it pretty and rent ready.

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

Buy and Hold

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

Wholesale Deal

How did you finance this deal?

Hard Money - Conventional Refi

How did you add value to the deal?

Rehab

Investment Info:

Single-family residence buy & hold investment in Aurora.

Purchase price: $72,000
Cash invested: $6,000

SFR - BRRRR

Second rental property - hard money - buy, fix, fill, refi - before it had a cool name (BRRRR)

Section 8 tenant has been in the property for 9 years (as of 2019). Rent increases over time have made this deal fantastic.
Typical rehab - floors, paint, bathrooms, etc. just enough to make it pretty and rent ready.

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

Buy and hold

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

HUD house - MLS

How did you finance this deal?

Hard Money - Conventional refi

How did you add value to the deal?

Rehab

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Aurora.

Purchase price: $195,000
Cash invested: $800

First Deal - 3 unit - FHA 203k Loan - house hack.

I bought this HUD house back in 2010 using a n FHA rehab loan with my then girlfriend,now wife, glad that worked out! We did most of the rehab on our own, lived there for a year and moved on. Still own the property today, last appraised for more than 3 times what we paid for it. This property was a catalyst to our buy and hold investing because it has always cash flowed very well!

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

Long term rental

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

MLS - HUD house

How did you finance this deal?

FHA 203k