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All Forum Posts by: Jaycee Greene

Jaycee Greene has started 1 posts and replied 373 times.

Post: Rental Property Investor Newbie

Jaycee Greene
Pro Member
Posted
  • Real Estate Consultant
  • St. Louis MSA
  • Posts 397
  • Votes 90
Quote from @Terrence Adams:

Hi everyone, I’m Terrence, new to rental property investing and excited to learn from this group. I respect the experience here and am eager to contribute as I grow. I’d appreciate any guidance or tips to get started on the right path. Thank you!"

Hey @Terrence Adams, welcome to the BP Forum! I'm curious what type of properties you're looking to add to your portfolio...SF, 2-4 MF, or 5+ MF? And what is your price point and are you looking for turn-key properties or something along the lines of a "fixer upper"? And are you wanting to focus on a certain city/market?

Post: Cash-out Refi or Line of Credit

Jaycee Greene
Pro Member
Posted
  • Real Estate Consultant
  • St. Louis MSA
  • Posts 397
  • Votes 90
Quote from @Kevin Akers:
Quote from @Jaycee Greene:
Quote from @Kevin Akers:
Quote from @Jaycee Greene:

Hey @Kevin Akers! I'm curious why your bank rate recently increased? Did you have an ARM that adjusted? The decision about the cash out refi all depends on the different terms from the lenders. Have you gotten any term sheets or commitments about this yet?

What would help the community is for you to share as much info as you are comfortable, but the appraised values, current loan balances, and the current rents would be a good start.


 Jaycee! Thank you for your input.

Property 1

Laon balance 51K, appraised for 127K, rent $1095

Property 2

Loan balance 55k, appraised 126K, rent $1195


 Are these 1BR or 2BR?


 The are 3 bedrooms


Assuming these are in Charlotte, the rents seem very low for 3BR units. The average FMR in Charlotte is around $2,150. Even without that, you should have no issues qualifying for a DSCR loan with a local bank. Unless you plan to sell one of these in the next 5 years, you'll probably get a better deal if you try to refi both of them at the same time. Just my 2 cents.

Post: Advice Needed: Loan Options for SFH under $120K

Jaycee Greene
Pro Member
Posted
  • Real Estate Consultant
  • St. Louis MSA
  • Posts 397
  • Votes 90

Hey @Michael Moya, welcome to the BP Forum! There are HMLs that will do loans <$100k, you just have to look for them. I've used TrustBridge in the past.

Post: "New Investor Focused on Long-Term Rentals & Multifamily Properties"

Jaycee Greene
Pro Member
Posted
  • Real Estate Consultant
  • St. Louis MSA
  • Posts 397
  • Votes 90
Quote from @Laqurn Andrews:

About Me: Hello! My name is Laqurn Andrews, and I'm a new investor based in Montgomery, Alabama. I'm excited to start my journey in real estate investing and I'm particularly focused on long-term rentals and multifamily properties. I believe these investment types offer a great opportunity for steady cash flow and long-term growth.

I’m eager to learn more from experienced investors and build a strong foundation in the industry. I’m currently researching strategies for finding the right properties, managing investments, and growing my portfolio in a sustainable and profitable way.

I’m open to networking, partnerships, and learning opportunities from others in the real estate community.

Current Goals:

  • Expand my knowledge of long-term rental and multifamily investments.
  • Connect with other investors, mentors, and professionals in the real estate space.
  • Begin purchasing properties that align with my long-term investment goals.

Feel free to reach out if you have advice, resources, or if you're looking for someone to collaborate with!

Hey @Laqurn Andrews, welcome to the BP Forum! What is your price point and are you looking for turn-key properties or something along the lines of a "fixer upper"?

Post: New to investing, looking for 3rd deal and advice

Jaycee Greene
Pro Member
Posted
  • Real Estate Consultant
  • St. Louis MSA
  • Posts 397
  • Votes 90
Quote from @Spencer Blondeaux:

Hello all, 


My name is spencer, me and my wife have worked with other investors for years, now we would like to branch out and do it for our selves. With the help of our mentor we compiled a new build, single family, and are closing on a flip soon. We would like to build our own relationships, gain knowledge and find deals. Our end goal is to build wealth over the next several years and leverage that wealth to buy multifamily commercial properties! Excited to be here and learn from you all! 

 Hey @Spencer Blondeaux, welcome to the BP Forum from a fellow St. Louisan! Are you targeting a certain area of STL? Or perhaps a type of property and/or price point?

Post: New to Section 8 investing

Jaycee Greene
Pro Member
Posted
  • Real Estate Consultant
  • St. Louis MSA
  • Posts 397
  • Votes 90
Quote from @Eric Fernandez:

Super fired up to join the community and begin my section 8 BRRRR journey! I'm looking currently in the Birmingham/Montgomery market, any suggestions or advice would be much appreciated

 Hey @Eric Fernandez, welcome to the BP Forum! Do you have an idea of the property type (SF, 1-4 MF?) or purchase price in mind? Are you targeting a certain number of bedooms/unit (this is how S8 generally calcs the rent for each unit)?

Post: Multifamily refinancing in Phoenix

Jaycee Greene
Pro Member
Posted
  • Real Estate Consultant
  • St. Louis MSA
  • Posts 397
  • Votes 90
Quote from @Rylan Lacey:

Hello Biggerpockets!

I have a 24 unit apartment community that I am building ground up, and I’m about 4-6 months from finishing construction. All 3 bedroom 2 bath 1,000 sq ft with backyards, stainless steel appliances, washer and dryer in unit. Rents are around $2,000 a month when complete.

I’m looking to get ahead on an idea of financing for this. I usually build small apartment communities and then sell them to investors before they’re finished, but this one I’m planning on keeping.

I’m just looking for some brokers/lenders who would be interested in helping get the best refinancing options available. What are some rates people are getting? Are there 35-40 year amortized loans with 5 year balloons under 7%? Just looking for some good options.


Sounds like a good candidate for a HUD/Agency loan once it's stabilized. Do you know your proforma DSCR with a 30- or 35-year amort?

Post: Financing for rehabbing rental property

Jaycee Greene
Pro Member
Posted
  • Real Estate Consultant
  • St. Louis MSA
  • Posts 397
  • Votes 90

Have you checked with Legacy State Bank?

Post: Advice on starting portfolio

Jaycee Greene
Pro Member
Posted
  • Real Estate Consultant
  • St. Louis MSA
  • Posts 397
  • Votes 90

Hey @Stanley Clervil, welcome to the BP Forum! Do you have an idea of the purchase price that fits your budget and/or what your mother is able to pay in rent? Are you looking for something that's turn-key or are you willing to purchase a fixer-upper?

Post: Financing for rehabbing rental property

Jaycee Greene
Pro Member
Posted
  • Real Estate Consultant
  • St. Louis MSA
  • Posts 397
  • Votes 90

Hi @Erica Baruti. HELOCs are generally provided for properties in your personal name. Is this property in your personal name or an LLC?