All Forum Posts by: AraBella Hannum

Hi,

I am planning to get my first BRRRR project in a month, but I am having a hard time understanding the finance part of BRRRR.

1. The property should appraisal for more than what you bought it for, then once that happens are you supposed to go to local bank to get it refinanced and you get money back from the bank if it appraises for more? Then with that money you get your pay back your private lenders/hard money?

2. Do your private lenders/hard money not have prepaying penalty if you refinance within the same year? 

3. How do you get private lenders/hard money to also pay for the renovations?

* This question is not about financing but when you looking at a house you are interested in doing a BRRRR do you take a GC out with you?

Sorry for all the questions but thank you!

I'll definitely be coming! Thanks for setting this up.

Hello!

I am a realtor in FL and also a real estate investor. I am looking to get into some bigger projects such as community homes (20-40 units). I would need a partner or partner(s) to help financially. I am open to general or limited partnership, any suggestion on how to find any investor partnership in or out of state?

Also, any suggestion to websites for more information on real estate partnership would be fanatic since this would be my first deal with a partner(s).

TIA

In some lease agreements I have seen that some landlords put in saying if something breaks in the home and it cost less than $100 then the tenant pays for it and $100 or more then the landlord pays for it. Is that actual legal? And would that then change the price of the rental because the tenant has more responsibilities for the property? 

What are your thoughts?

Thanks in advance!

I am looking to buy a small apartment complex (5 units) in FL and with this particular complex all of them except for one are month to month and they are very under priced for renting around $200-$300 under a fair renting price. How would I be able to raise the price/ go about it to see if the current renters would like to stay there if they are willing to accept the new rent price?

What are the laws to changing the renting price in FL?

How many days would they have to leave the property if they are not willing to pay the new rent price?

Is there anything I can do about the one that has a lease agreement for another few months?

Thanks in advance!