All Forum Posts by: Amber Koontz

Hello @Bradley Shive 

I as well am interested in buy and holds. Checkout (BiggerPockets.com/events), to see what's going on around you. Great opportunities to network!

Wow, that is awesome!

I definitely did not factor in that I wouldn't be paying on the principle during that time. I'm pretty sure I'll be able to get financing, the issue has been resolved. Everything else was good to go per SNMC. This is much needed dialogue. I want to make sure to consider everything before getting a property. Selling is an exit strategy, sort of a flip but longer than usual. I just had everything planned out to be able to refi as soon as possible and keep the ball rolling. I have weigh the pros and cons of all of this.

Thanks for the feedback @Shanequa J. I'm working with NetWorth Realty looking for properties. I was thinking that getting a deal that would break even while under the HML would be ok until I could refinance it. A few hundred out of pocket to hold the property is also an option. I will look up John Broussard, I believe I've seen some of his posts.👍 I'm looking to use the brrrr strategy.

Good Afternoon I've ran into a little setback. Initially I was looking to use a hard money lender to rehab a property and then refinance the property for better cash flow. I'm looking to hold each property that I buy 5-7 yrs. (I have none right now) I've found out that my business expenses on my tax detail from last year were a bit too high to enable an approval to refinance. My credit score is good, I have reserves, and I'm analyzing deals everyday. I'm thinking my other options are seller financing and things like that. What I'd like to do is proceed with the HML and hold it until I can provide my new tax detail, which will show way less business expenses, and refinance. Any thoughts? My current HML doesn't require the 1 yr seasoning, but I have heard Brandon Turner mention that he holds his under the HML at least one year.

@Taylor Witt Have a look at Chris Tracy's post: Need Help Underwriting An Apartment Deal?... No problem!

This may be of some help.

@Katherine Rossell that sounds great. I'm in the process of writing down action items so that I can get into buy and holds, maybe BRRRs as well. Properly screening and setting out guidelines will really help me overcome the initial anxiety of nightmare tenants. Thank you for sharing!

Congratulations @Katherine Rossell and your partner! Where you ever worried about choosing the right tenants, and are you strict in rules for eviction?

@Jeremy Bates It sounds like you are in the phase just before you hit the ground running. I'm right there with you. I imagine that once I have everything written on paper and get a successful rental under my belt the sky is the limit. Two great posts that I've read in the past two days are: Lessons Learned From my 3rd BRRR posted by Stephanie Cabral, and My First BRRRR Property in the Houston Area posted by Iman Yu. I found those to be very helpful and motivating. Good luck👍

Great share and congratulations!