All Forum Posts by: Waylon Korkow

Nice! I know someone that will do hard money lending to buy the home and rehab it then later refinances to the secondary market to get the best rate. If you figure out what the profit is they would make and then agree to pay them that when you refinance plus giving them their interest I would think they would be all for it.

Hey BP,

Does anyone have a buy/hold profit spreadsheet or rehab cost spreadsheet that you would be willing to share?

Thanks,

Waylon

What do you consider a good cash flow? If I put down 15% they will stay cash flow but won’t be a ton extra. Thanks for the comment

Ok so I’m trying to get my mind right with what my focus should be. Here are a couple thoughts I’ve had, any thoughts you have would have would be great. I’m wondering if I should be working on purchasing properties or paying mortgage down to have more monthly cash flow. I have the opportunity to purchase properties with 15% into them. Any mortgages would be amortized over 20 years. 1) if I do the minimum down of 15% they won’t cash flow as good. 2) if I put more down it will limit the amount of properties I can buy. I’m wondering what your thoughts are on my focus. Should it not be on the monthly cash flow and look at the numbers for cash on cash return and cap rate? Let me know what you think. Thanks Waylon

Hey James,

We are looking to hold mostly.  Eventually getting into multi family is the goal. 

Do you flip or hold mostly?

Waylon

Hi everyone,  my name is Waylon Korkow.  I live in Sioux Falls SD.

I am a mortgage banker and have been in banking for 20 years.  Just recently decided to form a partnership with 2 other guys to buy some investment properties.  I'm really excited to be a part of this community and hope to add value and learn.

We just put our first offer in on a rehab home...hope to hear this morning if we got it.