All Forum Posts by: Aaron Rowzee

@Nate Reed, I apologize I totally misread your original statement. That'll teach me to BP on my phone and drive. I thought you had inferred a few inches from water hence your statement about flooring and carpet. My bad, man!

With flood waters you cannot take short cuts otherwise I'd argue that investor would be doing something immoral and almost criminal. The water tests positive for several diseases, is mixed with many unmentionables like sewer water, and brings all types of mold faster than you would believe. 

You MUST cut out all wet areas, dry completely, and then treat with an anti-microbial chemical. This must all be done before any rehab can be done and takes about a month to do it correctly. Plus, with the demand on all contractors and remediation companies, the repairs will take many months longer. 

Personally, having lost my house to Harvey a few weeeks ago, yet also being an insured investor, my plan is to purchase what I can for cheap, and sit on them for a few months. I can do the remediation steps myself, but I won't be expecting to have them rehabbed for rental or flip for 4-6 months. 

Not sure if this is what you were wanting, but this is the best and ethical way to handle flooded areas. 

Aislinn Phelan has an incredible team. She's well liked and used by investors throughout the area.

@Antoine Martel forgive my ignorance, but assuming the homes were cash purchases and a private loan covered all costs wouldn't they be in 1st position for all properties within the blanket loan? 

Good evening, guys. I'm trying to get in the head of private money lenders and work out some strategy that would be compatible with and even entice private lenders for deals I do in my area. We have a lot of homes that sell for under $50k but cash flow incredibly well without being in a war zone. But as most of you know, conventional and hard money lenders don't touch anything under 50k or 75k respectively.

As I am not a private money lender and don't know one personally, I'd like to ask if grouping several under $50k homes together makes sense for private money lender? Let's assume, also, that these homes are solid, have equity according to tax rolls, and local rental rates prove their RtV percentages. 

Absolutely awesome and encouraging!!

@James Work, there is also https://realestateinvestorcrm.com/ for Podio as well. I have downloaded the free version of InvestorFuse and its pretty nice, albeit still pretty manual. The paid versions include all of the advanced workflow options builtin which make Podio an actual time saver more than just a record keeper. 

Also, with Podio, you have to purchase the premium tier on a monthly or annual subscription for the workflows to function. Its kind of a deceptive sale. Currently I'm investigating Danny Johnson's REIMobile since I'd already have to pay a perpetual fee for use.

I'm in Beaumont. Let's talk.

@Casey Mericle GREAT INFO! Thank you so much for your response, that gives me a bunch of things to research.

Good evening, BP. I have a hypothetical for you experts here that I need some advice on. If a church was looking to get involved in real estate investing are there any pitfalls or caveats with a nonprofit using REI as a cashflow vehicle? Can a nonprofit use all types of lending including hard and private monies?