All Forum Posts by: Will Porter

 Whoa how does that work? Podio knows when someone calls your phone or something?

Checking in. Thanks @Charles Nguyen 

Do you have this deal under contract? That would be a great way to get serious people involved. You can come back to the marketplace forum here on BP and pitch your deal, asking for someone to buy it outright or to partner with you to hold it. But it's going to be very tough to get a private person to pony up their money unless you have this deal locked down with a contract.

You can go to local REIA events in the nearest big city and pitch your deal there.

You can work with local self-directed IRA and 401(k) providers to obtain loans from their investors.

You can get a gift from family.

You can take out a HELOC on your current property and contribute that money toward the purchase.

The list goes on...

[Hint: try  for relevant terms]

@John Horner this idea of funneling motivated sellers is very interesting. Can you provide a bit more detail about your "processes and marketing channels" -- like a big picture overview? What's the general approach that is working for you?

@Martin S. I want to encourage you to listen to the Bigger Pockets Podcasts (scroll down and pick one that covers a topic that interests you) and to read articles about finding deals on the Bigger Pockets Blog. These will show you how real people have made real deals: how they found them, financed them, etc. You asked for proof -- the proof is right here on this website, just use the search button and those links and you'll find it.

Having said all of that,

WP

@Lynn Currie your photos look wonderful! Those polished concrete floors are really cool. How do the numbers compare on that versus your engineered wood floors? (Is it easier to pour/polish concrete than it is to install the wood floors?)

And how do we see more of your stuff (on Houzz or wherever)?

So it looks like gross income is $2390/mo.

Using the 2% rule as our back-of-the-napkin analysis, the "ideal" all-in price for a $2390/mo property would be $119,500. How close to $119k do you think you can get from their $200k?

Of course there's always room to grow with a little "forced appreciation" through rehabbing. And the 2% rule is just an ideal guideline.

Don't forget to include capital expenditures and debt service in your expense analysis. You'll have to adjust your thinking a bit, because now it's akin to having holding costs in perpetuity, instead of just a few months on a flip.

Well I must say, I never thought I would read about drowning bamboo on this forum!

@Tom Keith can you give us a quick blurb about your 4 properties? How you found it, financed it, and a very brief summary of numbers and results? Would love to hear.

Oh, and congrats on your speedy success so far!

 Wow that's awesome. Can you tell us more about those deals? You made the salary of two years in a few months?!

oh my god that huge pocket is crazy. haha.

@Joshua Dorkin just fielding ideas out of curiosity more than anything. Of course if this ever went anywhere, it would have to happen with your consent.

But it sounds like you guys have already tried this and there wasn't much interest...