All Forum Posts by: Jason Miller

@Peter MacKercher @Paul Winka

I have properties in Ferguson and Webster Groves.  I don't have any issues with the areas.  Even with the riots, i consider Ferguson a decent city.  The problem I have with both are the cities themselves.  In my opinion corrupt, and looking to soak the big bad evil landlord.

I tend to agree with Bob, although i take a mixed approach.  This is the old leverage vs no-debt argument.  Run the math and see what you are comfortable with.  

If I pay down my properties now, what return do i get?  

What is my return if I take that cashflow and use it to purchase more properties with leverage?

What risk am I comfortable with.  What reserves will i need based on my risk tolerance?

Personally, I know i can get outstanding returns reinvesting my money.  I also like the stability/flexibility of having decent reserves and a few free and clear properties.  I take a mixed approach that uses around 75% of my cashflow towards future purchases, 15% towards paying extra towards mortgages and 10% towards cash reserves.  I keep the math the same once properties are paid off.  This approach snowballs slightly, but also allows me to grow at a faster pace.

My wife and I are in search of a new market.  We currently have rentals in 3 different MSA's.  Are there any companies, consultants or publications we should be looking at to help us narrow down a market for long term holds(7+ years)?  

I have done searching in the past via census data, bureau of labor statistics, and national association of realtors data.  Frankly I find my method of hunt and peck to be rather lacking.  I know there are far better skilled people and companies that have taken information from multiple sources and put it together in and easy to digest format.    Any suggestions on where to look?

Thank you everyone and the lenders who contacted me.  I appreciate the input.

Thank you everyone and the lenders who contacted me.  I appreciate the input.

I have several rentals in Denver that I am looking to do a cash out refi.  I used Denver Mortgage in the past, but from what I can tell they are either out of business, or the quality has deteriorated very badly.

Any recommendations on where to look?  I don't want to violate the rules here, so if your a lender please PM me, if you have a recommendation and are not a lender, I think others would like to know as well.

@Daniel Levine

Dan,  I use Estill and Long.  There main focus is real estate and asset protection as far as I know.  So far they have been good and very responsive to any inquiries I have. I started using them in 2013.

 I think it was around $500 an entity.  While that may seem steep, its done right.  If you unsure about them, I think they have a book on asset protection.  Might be worth a gander to see if they are what you are looking for.

Fair enough.  I guess I just didn't see the difference.

@Joe Villeneuve

 Why not use a portfolio lender?  The local bank I use will lend as many properties as they feel comfortable with.  My realtor has 23 mortgages with this bank (how I found them).  I buy with hard money, rehab and then refi into a 20 year fixed note.

@Brie Schmidt

  I like the idea of giving a bonus to your manager.  I'm very curious to hear about your setup after another year in Milwaukee.