All Forum Posts by: Ty Ottaberry

 heck yeah . 

So what do you think you could have done diffrent to prevent that from happing ? 

Would it have been possible for you to have had fixed intrest rates on every thing ? 

If your looking for the best analyzing tools, you wont find any better then what here in BP pro member  . As far as finding the properties in this market online I have never found any type of exclusive deal finder that you dont have to work to get the properties  .  I do use 

(dealmachine) app to find and target home owner on offmarket properties. You have to pay for the app but its very much worth it if you are willing to put in the work 

contact a local real estate agent that is (investor friendly) and start working with then. let them know your criteria's that way they can hook you up with what your looking for. Also local wholesalers that know what they are doing

Regardless, real estate is still 10,000 times more powerful when it come to building wealth (on purpose) lol. That will never change. when real estate crashes the smart ones get richer. I dont gamble when it comes to my wealth. Investing in currencies & the stock market is the same as playing slots in vegas. 

Would Imagine someone has already posted about this . I just hopped off a zoom call with my CPA . Biden is enforcing a law To put a stop to the 10-31 exchange if the sale of the property is over 500k .

Something tells me he is just doing this to piss off Trump.

Wanted to here some other Opinions on this

@Mekdim Ayele

If you are looking to get the best ROI and pay little to no taxes Legally. I can help you convert 100% in to large multi family as a passive or active investor. I'm working on raising capital as we speak. I'll send you a pm that way we can talk in more detail

Looking to meet up with a few active muli family investors in my area.  

I live in Gilmer Texas 

East Texas 

Want to hear your story 

send me a message

Wanted to see what some of you guys would do with this deal....  also share a little bit about what I've been up to.

Stick with my plan sale it like it is and move on to the next...

or hold for the cashflow..... rent out the unit that's already in place and develop a few more units on the property to increase property value. once property value is up, then sale.  FYI Lots of hard labor involved  lol 

my goal is to have a 200 unit property all in one location within 6 to 7 years.  It gets much more detailed but I won't go into that now. . Long story short  I prefer the easiest and fastest route to get me there . 

In my opinion I feel the easiest and fastest route  For my situation Is buy of Market properties like this that do not need much work at all. Each time I sale I take the cash and buy a property that is a little more valuable

(I never pocket any of the money) .   I know my market like the back of my hand when it comes to finding good off market deals, I'm very good at it 👌.

Back in April the property before this one I bought for 5k, turned around the same week and sold for 10k cash, used that 10k to buy this one for 10k . Very convenient already had it in the pipeline with 0 competition  one bed one bath permanent structure Wrapped around a nice 5th wheel , huge covered porch And a total of half an acre (move in ready)  aslo With utilities already in place on the empty lot next to it ready to bring in a new development. (Zero restrictions) in this area ,Lake Bob sandlin is with in walking distance. 

A Partner came to me the other day & wanted to invest a little cash from there 401k. They gave me 5k,  The deal is I will double their 5K on this deal but they have to keep everything in the pot to use on the next one .  They can cash out at any time but if they cash out too soon (That's the last time they invest with me) 👍👌

took that 5k and bought up the lots next door to this one for $2,100,  used 1,500 more of that to fix the place up a bit.  

 Now it's on the market to be sold through owner financing .  Stick with me to see how I cash out of this & move on to the next one.. 

My cabin business (Graceland Cabins) in Gilmer Tx is doing fantastic! (All because of this strategy) ! Also i have a few rentals that  Are currently producing positive cash flow👍  Salmataniously  wholesaling a few off Market properties . I only wholesale the ones that do not quite fit my criterias 

 . My team at Wealth Ability is helping me get the ball rolling with my taxes so I can get larger loans To pursue bigger deals . Meanwhile I'm buying these cheaper properties , doing a few value adds and Reselling. Mostly using my creative strategy to sell and cash out.

for example: I will sale the property to a buyer on owner financing  (buyer will definitely have a good track record ),then I take the note  (Deed of trust & promissory note) I just created and sell it to a note buyer . I get more for the property,  Benefit multiple people , Get to use the cash to move to my next deal . These lower end properties with mobile homes have some down side (only If you don't know what you're doing) ,this strategy elements that.  Downsides of these properties: We all know banks don't typically like to finance the older mobile homes on land And let's face it (not a whole lot of people have 35K cash sitting in the bank to spend on a older mobile home with land  And the ones that do don't exactly want to spend it to live in a older mobile home lol.  Owner financing these properties opens up a whole new playing Field of buyers.  That being said ...

( You have to be smart and finance to the right person that has a decent payment history,  Otherwise trying to cash out of the note will be nearly impossible).  Note buyers are buying the income stream not the property.  Their goal is not to foreclose  ,Their goals to buy a strong asset that  Produces them monthly cash flow.  If the buyer you choose has a crappie payment history then you just created a High risk "asset"  That will most likely Become a liability in the future. Good luck trying to sell that lol. 

 Hope you guys enjoyed. I haven't posted in a while  Wanted to come in and share what I've been up to. 

please send me what you have. If you can find it with owner finance (Great), if not we can supply our own funding 👍. 

Can analyse fast and make quick decisions . 

can spend up to 2M and under . Obviously more if owner financed ☆

☆East Texas👍 , ☆Central Texas👍 , North Texas🤏, South Texas 🤏, West Texas🖕.  Jk if the numbers actually make sense for West Texas ill possibly consider lol  Doesn't hurt to look at over anyways.

prefer lot rent over all . Not a huge deal if not tho .

903-386-8184 

I am analyzing a deal ☆VERY☆ similar to this. The purchase price on the property that I'm dealing with is $220k. The income & operating expenses are nearly *exactly* the same.  $480k is over paying if you ask me . If you would like to partner with me your more than welcome 

 One of the best ways to begin  understanding this is by studying what a bank will and will not finance. Once you understand what banks are truly looking for you will basically be able to look at any house and determine very quickly the best way to acquire the property ,if it's worth acquiring at all.    Banks are pretty good when it comes to winning.  If a bank will not Finance a property there is usually a pretty big risk factor involved. Begin to understand those risks and you will be a much better investor.