Comments on: The Real Estate Investor Who Bought 74 Houses in 2 Years ~ Robert Hammond http://www.lifestylesunlimited.com/the_real_estate_investor_who_bought_74_houses_in_2_years_robert_hammond/ The Education and Mentor Group for Real Estate Investing Wed, 25 Apr 2012 19:34:45 +0000 hourly 1 http://wordpress.org/?v=3.1 By: Motivated Sellers http://www.lifestylesunlimited.com/the_real_estate_investor_who_bought_74_houses_in_2_years_robert_hammond/#comment-868 Motivated Sellers Sat, 14 Aug 2010 14:50:42 +0000 http://www.lifestylesunlimited.com/?p=8595#comment-868 That's incredible and it's great to have a partner in your journey towards financial freedom. That’s incredible and it’s great to have a partner in your journey towards financial freedom.

]]> By: Robert Hammond http://www.lifestylesunlimited.com/the_real_estate_investor_who_bought_74_houses_in_2_years_robert_hammond/#comment-867 Robert Hammond Fri, 09 Apr 2010 10:27:50 +0000 http://www.lifestylesunlimited.com/?p=8595#comment-867 They were not FHA loans they were Fannie Mae. And at the time, it was 'the fannie mae 10' that you could do. With the banking crisis they change the limit to 4 homes. The process was basically... buy with cash or hard money short term loan, then do a cash out refinance into a 30 yr fixed Fannie Mae loan. Had to keep my credit score up and my debt ratio down. Probably the last 5-6 we did in my wife's name...her credit and debt ratios were stronger. They were not FHA loans they were Fannie Mae. And at the time, it was ‘the fannie mae 10′ that you could do. With the banking crisis they change the limit to 4 homes.

The process was basically… buy with cash or hard money short term loan, then do a cash out refinance into a 30 yr fixed Fannie Mae loan. Had to keep my credit score up and my debt ratio down. Probably the last 5-6 we did in my wife’s name…her credit and debt ratios were stronger.

]]> By: Kyle http://www.lifestylesunlimited.com/the_real_estate_investor_who_bought_74_houses_in_2_years_robert_hammond/#comment-866 Kyle Thu, 08 Apr 2010 17:39:53 +0000 http://www.lifestylesunlimited.com/?p=8595#comment-866 Robert, Can you explain how you went about acquiring the 10 initial properties using FHA loans? Thanks. Robert,

Can you explain how you went about acquiring the 10 initial properties using FHA loans?

Thanks.

]]> By: Allan Yao http://www.lifestylesunlimited.com/the_real_estate_investor_who_bought_74_houses_in_2_years_robert_hammond/#comment-865 Allan Yao Sun, 28 Mar 2010 14:38:01 +0000 http://www.lifestylesunlimited.com/?p=8595#comment-865 Robert, How did you acquire such a high number of houses in 24 months and still rehab them? You were averaging over 3 houses/month! Robert,

How did you acquire such a high number of houses in 24 months and still rehab them? You were averaging over 3 houses/month!

]]> By: Jackie http://www.lifestylesunlimited.com/the_real_estate_investor_who_bought_74_houses_in_2_years_robert_hammond/#comment-864 Jackie Fri, 26 Mar 2010 14:06:15 +0000 http://www.lifestylesunlimited.com/?p=8595#comment-864 Hi, Robert congratulations on your success and your new baby! How did you find your rental property? Realtor? Mailings? Buying a list? Foreclosures? Pre-forclosures? How long ago did you buy your first 2 rental properties? Did you buy with a conventional loan of 20% down? Thanks. Hi,

Robert congratulations on your success and your new baby!

How did you find your rental property? Realtor? Mailings? Buying a list? Foreclosures? Pre-forclosures?

How long ago did you buy your first 2 rental properties?

Did you buy with a conventional loan of 20% down?

Thanks.

]]> By: Winter Bush http://www.lifestylesunlimited.com/the_real_estate_investor_who_bought_74_houses_in_2_years_robert_hammond/#comment-863 Winter Bush Fri, 26 Mar 2010 02:59:17 +0000 http://www.lifestylesunlimited.com/?p=8595#comment-863 This is phenomenal. Thanks for sharing! This is phenomenal. Thanks for sharing!

]]> By: Don Fletcher http://www.lifestylesunlimited.com/the_real_estate_investor_who_bought_74_houses_in_2_years_robert_hammond/#comment-862 Don Fletcher Thu, 25 Mar 2010 22:56:54 +0000 http://www.lifestylesunlimited.com/?p=8595#comment-862 Robert, Congratulations again! Your daughter (like mine) will be fortunate enough to be born into a family that is financially free! My daughter is almost 5 years old, and she is already looking for her first Investment Property! I hope to see you at LUInc soon. If you want to reach me directly, you can email me at Don@DonFletcher.com . Your freind (and fan), Don Fletcher Robert,

Congratulations again! Your daughter (like mine) will be fortunate enough to be born into a family that is financially free! My daughter is almost 5 years old, and she is already looking for her first Investment Property!

I hope to see you at LUInc soon. If you want to reach me directly, you can email me at Don@DonFletcher.com .

Your freind (and fan),
Don Fletcher

]]> By: Robert Hammond http://www.lifestylesunlimited.com/the_real_estate_investor_who_bought_74_houses_in_2_years_robert_hammond/#comment-861 Robert Hammond Wed, 24 Mar 2010 19:22:14 +0000 http://www.lifestylesunlimited.com/?p=8595#comment-861 Hi All, 'Lifestyles' has it pretty accurate in their description of our acquisition process. And Andy, your assumptions are also accurate on the generalities of how the partnership agreements are structured. By the way, we had our baby about 6 months ago, and it is very nice to have the flexibility to spend as much time as we want with him. We do get some nanny help to free us up a little. Thanks for the compliments and good luck on your investment endeavors. Hi All,
‘Lifestyles’ has it pretty accurate in their description of our acquisition process. And Andy, your assumptions are also accurate on the generalities of how the partnership agreements are structured.

By the way, we had our baby about 6 months ago, and it is very nice to have the flexibility to spend as much time as we want with him. We do get some nanny help to free us up a little.

Thanks for the compliments and good luck on your investment endeavors.

]]> By: Don Fletcher http://www.lifestylesunlimited.com/the_real_estate_investor_who_bought_74_houses_in_2_years_robert_hammond/#comment-860 Don Fletcher Tue, 23 Mar 2010 16:25:58 +0000 http://www.lifestylesunlimited.com/?p=8595#comment-860 Robert and his wife have done an excellent job! And now they are positioning themselves to teach others! Congratulations! Don Fletcher Robert and his wife have done an excellent job! And now they are positioning themselves to teach others!

Congratulations!
Don Fletcher

]]> By: Lifestyles http://www.lifestylesunlimited.com/the_real_estate_investor_who_bought_74_houses_in_2_years_robert_hammond/#comment-859 Lifestyles Tue, 23 Mar 2010 13:13:32 +0000 http://www.lifestylesunlimited.com/?p=8595#comment-859 I can't speak for Robert, but it is my understanding that he started with around $40k to invest. He flipped 2 houses to bring it up to around $80k. With the 80, he bought 10 houses and reached his fha max. At that point, Del advised him to find partners. He found 6 partners to put up money and credit for the next 64. Robert, correct me if I'm wrong! I can’t speak for Robert, but it is my understanding that he started with around $40k to invest. He flipped 2 houses to bring it up to around $80k. With the 80, he bought 10 houses and reached his fha max.

At that point, Del advised him to find partners. He found 6 partners to put up money and credit for the next 64.

Robert, correct me if I’m wrong!

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