All Forum Posts by: Alyssa Weber

@Wade L. @Nicky Reader I also am about to try to rent a unit.

I was thinking maybe doing a month to month lease so I have grounds to terminate if they don’t pay... not sure if that is how that works though? Does anyone know?

It’s great there is verbiage that the tenant will have to prove they tried to get government assistance and tried to pay, but I see this as being a potential legal nightmare, tied up in the courts for months without rent. Would love to avoid it if possible.

Thank you everyone!

@Jason James nice! Did you find that your rehab came in under/in budget? Do you have any recommended tools/strategies for budgeting rehabs?

I am a relatively new investor working in the Louisville market. I have some people I have been working with, but am trying to ramp up quickly, so I would be very interested in your recommended contacts for investor-friendly agents, lenders and contractors, if you are willing to share. Thanks!

@Dawson Swindler I am currently looking to BRRRR in the Louisville area. I haven't done one yet, but have assembled a team from past investments and now have the capital to make it happen. Hoping to find distressed SFH in Germantown, Highlands or Old Louisville to get started.

What has your strategy been so far? Happy to share contacts for my realtor, PM and contractor if you are looking to build a team!

Hi @Heather Wilkerson! Just sent you a direct message about the lender we are working with in Louisville. Good luck!

@Tyler Wotherspoon I own 2 STR in Colorado, and I did not purchase them with an LLC, so I could use traditional financing. I did however take out an umbrella insurance policy to ensure that I am personally protected. Airbnb has a lot of protections in their agreements, and I feel comfortable between those policies and my umbrella policy. I've been doing it for 4 years and so far so good!

Best of luck

Hi everyone! I'm not very big on watching TV, but am getting into rental property and BRRRR investing, and am looking for some content for inspiration.

So I’m asking kind of a fun question today.... what is your favorite HGTV show for inspiration on investing and rehabbing properties?

@Linying Zou will this event be happening next week? I would love to join! I don't see a lot of others that have RSVP'ed, so wanted to confirm that it is still on :)

@David Olson I had a commercial deal (6-plex) fall through about a month ago (appraised too low), but other than that I've been focusing on the 1-4 unit properties.

Heads up, if you're interested in commercial out of state investing, make sure you do a lot of homework on finding a lender that will work with you in that market. We had a lot of issues with lenders denying us because we were new investors, and didn't have any prior experience in that market, even though our income could support the mortgage without any renters at all. We eventually found a lender that would do it on our 6th try, but it certainly would have been easier if we had started with a 1-4 unit property instead. It required a lot of persistence and patience, so wanted to pass along that lessons learned :)

@Ethan Teuscher rentometer is certainly not 100% accurate, since it only takes an average of the rents in the area, and doesn't necessarily take the quality of the property into account. It is typically a fairly conservative estimate though, so if the numbers look good using rentometer, that usually means it can only go up from there.

I use it to initially analyze deals, and then anything that I am really interested in, I bring to my property manager to get their opinion. A lot of times they'll let me know that we could spend some money to make some cosmetic upgrades, and get a huge increase in rent... or they may say we can get way more rent on day 1. I try to filter out only the properties that I am really interested in before asking for their advice, so I am not inundating my PM with properties constantly.