All Forum Posts by: Tyler Forsythe

@James Lowery Thank you for the recommendation!  The link you posted for Soto Bros. is now dead, but here is an updated one for anyone reading this now: https://www.facebook.com/Soto-Brothers-Lawn-Care-Services-186783372091545/

Hi, @Mike S. and @Jessie Kristie!

I got an email response from Cindy Sharp today: "Mike probably doesn’t remember that we opened him a savings account and put $5 in it so he could do loans with us."  From the rest of her email, it sounds like for the purpose of making loans, that step is often rolled into the origination process and involves no out-of-pocket contribution from the customer (because they're making money off of making the loan, so they gift you the start-up funds).  She also confirmed my original understanding that in order to open any account (deposit or lending), one does have to "live, work, attend church or school" in the counties Avadian serves.

So, not exactly back to square one as I do have other lender options, but not the response I was hoping for.

Hi, @Jessie Kristie!  I sent her an email, but I hope she's not still responding after 9pm.  As for the rate, I won't know until further into the process -- I already have a pre-qual from another lender that I'll be using for any offers I need to make.  But I'll try to remember to drop it back in here if I end up closing with her.

@Mike S. That's great to know!  I'll reach out to Cindy Sharp as you suggested.

@Mike S. That sounds awesome, and I wish I could take advantage of it!  For anyone who is looking to invest remotely that will not be an option.  To be a member of Avadian CU, you must live, work, worship, or attend school in one of 34 counties in Alabama.  You're lucky to be able to take advantage of those terms!

@Jordan Moorhead, @Bruce Runn, and @Corey Jacques -- What about now?  We're further into implementation of the 2040 plan, so I'm wondering if it is happening more often.  Also, do you have recommendations of GCs who have experience doing it?

What about now?  With the market that kept heating up over the past couple years plus the increased crime this summer (more than normal, seasonal variation), are people still looking at (or avoiding) these areas?

I know you posted this ages ago.  I am relatively new to BP, though I've been involved in rental properties for about a decade now.  Could you point me to where they recommend that particular number and why?  I'm also experiencing analysis paralysis, probably because I'm unsure about how to proceed with financing given the current environment and that I'm looking into my first purchase with investor financing.  (My first three properties, eight doors were purchased with owner occupant loans.) 

Three months ago, I started looking into investing remotely in the Huntsville market as a summer diversion while I was closing a deal near me.

Now, I started to look in earnest, and I'm beginning to believe that it might be a bad time to jump into that particular market.

What do others (recent and veteran investors in that market) think? Where would you suggest considering instead?