All Forum Posts by: Bryan Field

 Thanks for the insight!

Hoping for some insight!

I have 10 units that are currently managed by property management. A duplex in one state, and 8 units (3 single family, a triplex and duplex) in another. 

I'm cash flowing net about $2500/month but I could add another $950 by flipping everything under self management.

The one Pro i see is definitely the cash flow but i know many of the cons could cause some headaches. I'd probably use local realtors to help re rent any vacancies and then possibly use a PM software like rent redi to keep everything in one place.

Has anyone had management in place and then decided to opt out to self manage? What were the biggest lessons learned and was it worth the cash flow savings?

I do want to add to my portfolio but might not need as many properties if I'm able to maximize cash flow by taking this route.

Hello BP!

I am a new ish investor looking for some advise on a multi family deal (4 units) with initial asking seller financing terms of 

• Price: $824,999
• 10% Down Payment = $82,499
• 10 Years Interest Only at 5%
  • Monthly Payment = $3,093
• 5% Prepayment Penalty for the First 5 Years

The building is 100% rented bringing in $3,950/month. There would be an opportunity to increase rents and everyone is MTM.

The land also has space to develop another 2 units for value add.

Hoping someone can help me understand the pro's and con's of an interest only payment for 10 years. 

Looks like the cash flow here is just under $1k/month ( without factoring in Maintenance/reserves etc.)

Thanks!

@Luke Carl & @Kevin Woodard - Our closing and rehab should have me out to about early November. That's less than 6 months seasoning. I am looking specifically for a cash out so if I have to hold for an additional month, so be it. An 85% will get us the highest amount of capital back but an 80% may work depending on how close we are to estimating the ARV.

Hello,

I'm under contract with a single family home in Gilbert, AZ and the house would make for a great short term rental. The house is being purchased in an LLC using hard money. Looking to spend about 65 - 70k on the rehab and then refinance out and start using it as a STR.

I'm wondering if there are any lenders out there that will approve a cash out refi at 85% LTV?. Most I've talked to will only go so far as to the standard 75% LTV. The difference of cash left in the deal between 85% and 75% is significant to the point that I'll have to just flip the property if I can't find those higher TLV cash outs for an income property.

Any recommendations?

Thank you,

Hi! 

Doing some research on Apartment Syndications in Phoenix Arizona. Ive seen a couple of companies (one being Rise 48 Equity) but wanted to see if anyone on here has used any particular company or has any feedback on Syndications in Arizona?

Thanks!

@Susan Thelen Thank you! Will take that into consideration!

Hello!

Throwing this out there to see if any one can refer or suggest a company or resource to help my business partner and I form an LLC for Phoenix fix and flip transactions. After a few fix and flips we would be looking to add rentals.

Is something like legal zoom sufficient? or is it better to meet in person with someone locally?

Thank you!