All Forum Posts by: David Wright

@Ken Wang...if people had perfect credit Ken they probably would not be renting.  Everyone with bad credit is not an automatic bad tenant.  But many are, but that comes with the Rental business....I wish you the best.

@Cameron Johnson - the best way, in my opinion, to enter the investment  market is the strategies that fit your budget and your personality.  If you do not have the money to implement the strategies, it doesn't really matter, and if you have the money to implement the strategies, but you do not like it, you most likely will not succeed.  

I hope this helps.  I wish you the best.

@Jeremiah Vancans...for what it is worth, Austin TX has been a goldmine for many investors.....and with your capital you would do great I believe.  Lots of competition, but that is in anything that is very good.  I wish you the best.

@Derek Davis ...It sounds like you are a new investor.  If you are going to go the hard money route, there is a great chance you will be asked by most, if not all, hard money lenders to come up with 30% down plus closing cost and reserves.  With no experience this is the norm.

Now you can check with your local bank and credit union and they may have what you are looking for but normally they do not, but you never know.  If they do, your terms and rates will be much better than a hard money lender.

Your other option is to seek out a individual private money lender, but that is not easy if it was I would not be in business...lol.

I wish you the best Derek.

@Libo L....sorry to hear and we know that is the risk of renting it happens to everyone.  It sounds like you have the right plan in place to counter this.  The only thing I would add is focus more of your energies on finding another tenant.  It sounds like you have a good process in place. I wish you the best.

@Kim Tucker...sounds great Kim I wish I could come.  Thank you for the invite.

Investment Info:

Single-family residence fix & flip investment in Houston.

Purchase price: $245,000

Ground Up Construction for $245,000 Loan Amount

@Zhong Zhuang - Just a word of advice be sure to interview at least three realtors for your Power Team.  As I am sure you know, not all realtors are the same or have the same level of knowledge, especially when it comes to working with investors.  So interview at least three for your team.  I wish you the best. 

Thank you for the info.  If you are every in Maryland let me know.

@Gaurav Srivastava - You have come to the right place to find the answers to your questions.  Keep seeking and shall find. I wish you the best.