All Forum Posts by: Andrew Menkes

I have a rental in the Smithfield area of NC that has some sub floor issues that I am looking to be repaired by a trustworthy contractor. Anyone know of someone that can be of assistance?

@Matthew Kresky

I refinanced a rental with North Carolina Community Credit Union

@Brendon B.

I hired J&C contracting. He did a good job. I ended getting new gutters, flooring, and paint. He also repaired a broken floor joist in the kitchen floor.

@Ryan Hoover

This is super late but I refinanced with a local credit union with a 30 year conventional with a 3.5% fixed rate.

I found the deal through a wholesaler on a local REI meetup.

I’m looking for SFHs preferably 3bed/2bath that need some work and I’m able to add value.

How has your Investing been going?

@Stephanie P.

Thank you! I was thinking this. I guess I wanted to hear it from someone else.

I purchased my 1st BRRRR over the Summer through a HML. The purchase was done using an LLC I set up. I have rehabbed and rented it out with the rent going to my LLC. I am refinancing the property into my personal name (the rates were so much lower for a conventional loan in my name). Am I allowed to pay the mortgage through my LLC which is collecting the rent?

@Jeff Williams

Hey Jeff nice to meet you I am finishing up my first BRRRR right now waiting on the refinance to close. Still looking for the next one.

I invested in Pine Level and it turns out that area had a very high demand for renters. Where are you investing? Are you apart of any REIAs?

@Tyler Bushey

Sweet deal Tyler! Gotta find me one of those. Congrats on leaving the W2!

@Benjamin Seibert

I appreciate the info. Yeah big banks have not panned out lol. I will continue to reach out to smaller banks and credit unions. Also thank you for the reference.

I recently purchased a property through a LLC with a HML. Had it rehabbed and a renter moving in this week! Any suggestions/strategies to use to refinance the property? This is my first buy and hold investment and finding a bank/lender to refinance the property is the last hurdle I'm having difficulty getting over. Any advice would be helpful.

Purchase: $85000/$25k down payment

HML: $85000 (6month) $60k/house $25k construction @12%

ARV: $135000

Purchased beginning of June.