What is a small win you had in real estate investing this week?

Rental Property Investor · Chicago, IL · Member since 2019 · 203 posts · 119 votes

For example, I have a property we are renting that we need to refi. I found a lender who can help us. We are going into underwriting. FTW! Just curious what your small wins are.

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Bill B.

Investor · Las Vegas, NV · Member since 2013 · 8k+ posts · 10k+ votes

After a 2 week vacancy (my longest in at least 10 years) I moved a tenant in yesterday with a 20% rent increase. ($1900 vs $1600)

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Ron Todd
Rental Property Investor · OK · Member since 2019 · 126 posts · 114 votes
6y
Decided to go through the insurance policies on my properties and ended up switching companies saving me 2k a year for similar coverages.
26 Reply
Shafi Noss
Lender · Nationwide · Member since 2018 · 571 posts · 310 votes
6y
Started a virtual meetup for apartment investing and got great turnout.
28 Reply
Andy Nathan
OP
Rental Property Investor · Chicago, IL · Member since 2019 · 203 posts · 119 votes
6y
@Shafi Noss real cool. What is the group?
3 Reply
Andy Nathan
OP
Rental Property Investor · Chicago, IL · Member since 2019 · 203 posts · 119 votes
6y
@Ron Todd that is a huge win.
1 Reply
Brian Briscoe
Real Estate Coach · Salt Lake City, UT · Member since 2017 · 273 posts · 414 votes
6y
@Ron Todd - we just changed carriers on insurance this past month too... Who did you end up going with? We moved from Guard to Nationwide.
4 Reply
Matthew Irish-JonesBusiness Member
Real Estate Agent · Buffalo, NY · Member since 2017 · 2k+ posts · 2k+ votes
6y
Getting lenders to provide cash out refinances.
Irish Jones Realty4.948 Reviews
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9 Reply
Brian Briscoe
Real Estate Coach · Salt Lake City, UT · Member since 2017 · 273 posts · 414 votes
6y
@Andy Nathan - We're one step closer to assuming a loan on an 80-unit property. It's in the final lender review at this point... It's a syndication and we're still going forward with the project because it still pencils, even with COVID concerns. Hopefully, we'll be closing this month (our lender has been saying 3-4 weeks since January -- I've stopped believing their timeline projections).
14 Reply
Brian Briscoe
Real Estate Coach · Salt Lake City, UT · Member since 2017 · 273 posts · 414 votes
6y
@Andy Nathan

The virtual networking that @Shafi Noss is referring to is the Gaithersburg Apartment Building Investors. We're based in the DC Metro, but during the COVID restrictions, we've moved the meetup online and all are welcome to attend. We had Michael Blank as our guest speaker last month and will have Whitney Sewell on 18 May. The event is posted here on BP https://www.biggerpockets.com/..., or you can DM me.
4 Reply
Ron Todd
Rental Property Investor · OK · Member since 2019 · 126 posts · 114 votes
6y
Originally posted by @Brian Briscoe:
@Ron Todd - we just changed carriers on insurance this past month too... Who did you end up going with? We moved from Guard to Nationwide.

Hey Brian,
I ended up contacting a local insurance broker and let him know what my current coverages were for and asked him to get me some quotes. I knew him from networking around the local area and it's true, real estate is all about networking and connections. I was using farmers for these properties because they had the best rates at the time. I've got policies scattered around with several companies depending on their coverages and pricing.
1 Reply
Bill B.
Investor · Las Vegas, NV · Member since 2013 · 8k+ posts · 10k+ votes
6y
After a 2 week vacancy (my longest in at least 10 years) I moved a tenant in yesterday with a 20% rent increase. ($1900 vs $1600)
30 Reply
Account Closed
Real Estate Investor · Burnet, TX · Member since 2017 · 29 posts · 17 votes
6y
Found a SFH to consider. It's been a long time since anything has come on the market in my area that even comes close to the cash flow I want. Not sure if I will end up with this house, but it's fun to at least have a property that's worth considering.
6 Reply
Deniz Eker
Philadelphia, PA · Member since 2019 · 102 posts · 48 votes
6y
One more step to closing on a rented deal in Cleveland .Contingency requirements agreed by seller
5 Reply
Tim Rostro
Rental Property Investor · Centralia, WA · Member since 2017 · 75 posts · 85 votes
6y
One of my tenants in TX came in to pay her April rent (she was furloughed from her job due to the virus) and said to the PM that she would come in Friday to pay for May's rent. It' good to know that there are honest people trying to pay their debts and not taking advantage of the system. Got to take this one day at a time and hope for the best. Small victories add up.
6 Reply
Peter Baudendistel
Rental Property Investor · Knoxville, TN · Member since 2018 · 36 posts · 36 votes
6y
@Andy Nathan
I am also undergoing a refinance. Hope to be able to pull out $55k on a house for which I only paid $35k, and still cash flow $500/mo. Home underwent appraisal today, so we will see.
I also learned about the VA Vendee loan option, as my wife and I put a bid in on a home we ended up losing out on (offered 30% over foreclosure estimate, but assume a cash offer took it). Oh well, can't win if you don't play the game!
3 Reply
Storm S.
Real Estate Agent · Santa Barbara, CA · Member since 2016 · 518 posts · 283 votes
6y
@Andy Nathan I'm up 15% on my REIT portfolio, bet heavily on retail, cell towers and data centers.
4 Reply
Michael King
Rental Property Investor · Navarre, FL · Member since 2019 · 913 posts · 640 votes
6y
All my tenants have paid May rent. I fixed a bunch of stuff the city inspector told me to fix.
4 Reply
Andy Nathan
OP
Rental Property Investor · Chicago, IL · Member since 2019 · 203 posts · 119 votes
6y
@Peter Baudendistel refinancing now is such a pain. Let me know the result for your loan.
0 Reply
Andy Nathan
OP
Rental Property Investor · Chicago, IL · Member since 2019 · 203 posts · 119 votes
6y
@Storm S. I get cell towers and data centers but retail is up also?
0 Reply
Chris Mackinlay
Midland, TX · Member since 2015 · 90 posts · 75 votes
6y
A small win is I collected another month of rent from an excellent tenant.
3 Reply
Account Closed
Rental Property Investor · Torrance, CA · Member since 2016 · 724 posts · 1k+ votes
6y
@Andy Nathan
Connected with a realtor in a secondary market in Indiana that looks like it could have some good opportunities. Also got approved for a line of credit on a rental property. The appraisal came in a bit lower than expected, but it's ok. Now I have a LOC for $42,500 available to use.
3 Reply
Andy Nathan
OP
Rental Property Investor · Chicago, IL · Member since 2019 · 203 posts · 119 votes
6y
@Jonathan Hulen sweet! Can I ask who the lender is?
0 Reply
Account Closed
Rental Property Investor · Torrance, CA · Member since 2016 · 724 posts · 1k+ votes
6y
Originally posted by @Andy Nathan:
@Jonathan Hulen sweet! Can I ask who the lender is?

PenFed Credit Union

0 Reply
Ryan Alexander
Real Estate Agent · Ellwood City, PA · Member since 2020 · 88 posts · 40 votes
6y
Was able to get pre-approved and found a duplex to put an offer down in Ohio.
3 Reply
Tanvir Sattar
Rental Property Investor · Cincinnati, OH · Member since 2020 · 380 posts · 588 votes
6y
@Ryan Alexander great to hear you are investing in Ohio. If you ever needs tips about the Cincinnati market I'm happy to help.
2 Reply
Ben Baye
Contractor · WI · Member since 2019 · 34 posts · 15 votes
6y
I’m in the process of buying a duplex that needs minor renovation on the lower unit and a decent amount in the upper unit. I got it under contract while it was rented but while discussing the need to have the renters move out to do the renovation the owner said he would ask the tenants to leave. The upper tenant moved out this week and the lower tenant is in process of finding a new place. I’m very excited to buy it without tenants and move right into the renovation!
3 Reply

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