All Forum Posts by: Chris M.

Has anyone signed up for the CRM platform offered by Better Path Homes- Left Main REI? Had a great demo, but it's an awful large commitment to get set up with their services. I'd like some true feedback from current users as there's not a lot of review to be found online. TIA

@Kim Synow Would love to hear what avenue you've decided to pursue. Just hired a local VA after years of overseas. Wanting to get her set up on something better than my simple google doc and skype dialer. Wouldn't mind recorded call for training and follow up accuracy as well.

TIA

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $81,000
Cash invested: $16,500

SFR on 20 acres.
Selling 10 acres to payoff mortgage.

What made you interested in investing in this type of deal?

Long term rental in growing area.

How did you find this deal and how did you negotiate it?

Direct Mail

How did you finance this deal?

Commercial

How did you add value to the deal?

Appliances and minor sweat equity.

What was the outcome?

Leased home within two weeks. Split 10 acres of property off to sell, which should come close to paying off mortgage.

Utilized a local bank to open a business account when purchasing a rental at the beginning of the year. Bought property under LLC and paying higher rate as commercial. Did a 7yr am over 20yrs. Looking to refi this property to a longer fixed term with lower rate, like conventional. What are my options?

Can I even refi a commercial into a conventional given it's under LLC? LTV is roughly 70%.

Google had too many options on refinancing commercial properties into a portfolio or commercial to commercial, etc. 

TIA

@Todd Rasmussen Curious on how you did such an overhaul on the front of this home. Looks Great!

@Eric Lefteroff thanks so much for the comment.  We're hoping not to syndicate, but not ruling it out either.  We're not using a broker, rather doing off market and calculating rents based on previous tenants in the two units and comps for those in the proximity.  Very interested in learning more behind your verbiage soft & hard costs?  Your questions while intimidating, also very motivating. 

@Leo Varnavas These are proforma for sure. There are only two actual units on location. They're bringing in 3k and 1900 per month.  The other two are approved for build.  The lot next door is avail and will suit 4 units similar to lot 1.  

Also, great question about the $430k. This is just a pipeline dream, despite having already done the research and discussions with sellers. I'm a SFR kind of guy, so this would be way out of my wheel house. Just figured I'd share and see where the wind blew.

I'm always moving, but rarely chasing squirrels. 

@Marlen Weber This is just a concept for now. Thanks for your encouragement. 

@Ronald Rohde was more of a share than an ask. But, would love a bit of insight. So sure, is this a lucrative deal for me? 

Had a motivated seller call to sell her recently built commercial units. Has 2 buildings with additional 2 approved.  Then, found the owner of the vacant lot next door. He's willing to sell too. Attached is the breakdown. Looks like all we lack is the 20% down. A for Effort?  Forgive the 5th grade document.