All Forum Posts by: Brad Van Epps

Thanks for all the replies. Personally I am looking to work with local professionals (GR/West Michigan). 

Hi Tim, I shot you a direct message. Thanks.  

Hi Dennis, mainly single family, but would not rule out small multi fam at this stage in my investing career. thanks. 

Does anyone have recommendations for property management, Real Estate CPA, and Real Estate Attorney in the Grand Rapids, MI area? If you have used a company and had a bad experience I would be interested to know why as well.

I remember watching a webinar a few months ago and Brandon Turner mentioned having access to rentometer in the BP tool calculators in the near future. Does anyone know anything about this?

@Kevin Nolan I work for a local lender and deal with underwriting requirements on a daily basis. If you have enough funds documented in a checking or savings account within 2 months of closing it won’t matter where you actually get the funds from. Conventional underwriting won’t allow gift funds for investment purchases. Under normal circumstances if you have more than 20% greater than cash to close in an investment or retirement account you will not need to show liquidation. However, during the pandemic investors and underwriting guidelines are becoming more strict and they are requiring liquidation of these accounts just something to be aware of. If you have underwriting or conventional loan questions feel free to reach out to me.

Hey guys, I work a full time job and will be using by job savings to invest in real estate with a set amount of savings each month. On top of that I save 10% in my 401k. What is a real estate investors take on that? Is that good diversification or would I be better off using all of my savings toward real estate? 

@Evan Polaski, what if they are adding value does that change your answer?

Wondering how buy and hold investors usually pay for minor rehab after they purchase properties. Jobs like paint and landscaping etc maybe $5k - $15k jobs. Do most investors pay cash out of savings when they buy these properties or are these financed in any way? In this example I am not thinking bigger projects like you might expect for the BRRRR strategy.

thanks!

thanks Nathan, I am trying to work my way backwards i figure if attempt to stick to properties under $100k and increase my savings from my job by about $100 a year. I can buy 1 property a year for about 10 years and then i should be able to reinvest my cash flow on top of job savings to do about 2-3 a year. I like the idea of accelerators and using that to scale quickly i tend to leave that out of my numbers to stay conservative.  

i plan to use conventional financing at first and then look into portfolio lenders after i have proven some success on my first few deals. I do have a great realtor and a few good resources for guidance that i plan to tap into in the near future. 

any advice on finding off deal markets?