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All Forum Posts by: Brady D'Hont

Brady D'Hont has started 10 posts and replied 15 times.

Post: Security cameras, keypad locks?

Brady D'Hont
Pro Member
Posted
  • Saratoga Springs, NY
  • Posts 16
  • Votes 3

Hello!

Looking for best recommendations when it comes to security cameras, motion sensor lights, key pad locks, ring cameras? For a MTR specifically, a keypad lock and deadbolt seems like the best option so theres no turnover of keys 4-5 times a year. 

Any software/camera related, that can be controlled through an app where tenant can have constricted access to cameras but i as owner have full access? 

Cameras just for front door, and over garage facing driveway/rear door. Is this invasion of privacy? 

Post: Mid Term Rental Agreement

Brady D'Hont
Pro Member
Posted
  • Saratoga Springs, NY
  • Posts 16
  • Votes 3

Jeremy, 

I am also in the process of completing a flip and hold MTR. I am curious to see what you’ve learned over the last few months and what details you have included in your lease agreement. 

Thanks!

Post: Hot water heater replacement

Brady D'Hont
Pro Member
Posted
  • Saratoga Springs, NY
  • Posts 16
  • Votes 3

Current hot water heater is 21 years old in a 2 bed/1bath SFH that is being flipped into a Mid-term rental unit. I plan to replace this before flip is complete. Any recommendations on type of tank or warranties?

Post: Utica & CNY Contractors/ Handymen

Brady D'Hont
Pro Member
Posted
  • Saratoga Springs, NY
  • Posts 16
  • Votes 3

Hello BP:

Looking to make some connections in the Utica/CNY area for general contractors and handymen.

Thanks!!

Brady

Post: Payment agreements with contractors

Brady D'Hont
Pro Member
Posted
  • Saratoga Springs, NY
  • Posts 16
  • Votes 3

Hello,

What are most peoples terms with contractors regarding payment plans/schedules? Obviously they vary, but from an investor side of the table what do people shoot for? 

Thx

Post: Creative financing, no money down??

Brady D'Hont
Pro Member
Posted
  • Saratoga Springs, NY
  • Posts 16
  • Votes 3
Thanks the feedback Tom! Are you investing in your local market or out of state? When finding your BRRR deals do you have contractors in place beforehand or is getting a deal in place your first move then contractors? 

Quote from @Tom S.:

@Brady D'Hont Similar to what others mentioned above, for me the BRRRR method is a good one. Using round numbers, starting off with a $25k DP for a $100k property and saving up for that is the hard part. Then BRRRR, and ideally pull out $25k after fees for your next DP, also leaving equity in the property and have it be cash flowing. Then repeat that process a few times. Having a good W2 job is certainly helpful for getting the best loan terms.

I also did a number of seller financed deals that I purchased.  With the two strategies combined, it's been very successful.

Hope that helps and good luck!


Post: Creative financing, no money down??

Brady D'Hont
Pro Member
Posted
  • Saratoga Springs, NY
  • Posts 16
  • Votes 3

After getting under contract with a property using only my personal savings for the DP., i still have this momentum and energy to acquire more properties (but with lack of capital). Understanding how to get creative with financing is where im having trouble. Does anybody have recommendations on books, podcasts, people to get in contact with for guidance on how to raise capital for add value properties? 

Post: How to finance personal reno

Brady D'Hont
Pro Member
Posted
  • Saratoga Springs, NY
  • Posts 16
  • Votes 3

I recently got under contract with a single family home near a brand new hospital where i intend to market to traveling nurses as there is a lack of inventory for that class of tenant. 

This home does require cosmetic upgrades, removal of carpet, finish floors, new paint, updates kitchen vinyl, all new appliances. 

When taking care of things like this is it best to open a new credit card and have everything on one line? Or Just dip into cash savings? Doe shaving it all on one CC make it Easier to track and maintain expenses? Any credit card recommendations? 

(15k of rehab was factored into my numbers when making offer that was accepted).

Thanks in advance 

Post: In need of contractor quotes..

Brady D'Hont
Pro Member
Posted
  • Saratoga Springs, NY
  • Posts 16
  • Votes 3

Hello,

I am looking for recommendations for contractors in the Rochester, NY area.. I have a property that ill be using a home Reno loan on and need estimates.. thanks in advance

Post: Another great benefit MTR has over LTR

Brady D'Hont
Pro Member
Posted
  • Saratoga Springs, NY
  • Posts 16
  • Votes 3
Quote from @Mitch Davidson:

I launched an MTR in Asheville, NC in 2018, and have had 13 tenants so far. After the first few turns I realized that compared to LTR the MTR model has a great additional benefit, meaning additional to the increased cashflow. With MTR turns are far less expensive regarding repair and maintenance. With MTR, people aren't moving their furniture, appliances, and other furnishings, some of which might not fit so well in my property, in and out of the home. Combine that with the fact that I have a lease, security deposit (which the tenant is less inclined to forget about due to the comparative shortness of their stay), and a rather small property, and I only need to have the place cleaned when someone moves out. I haven't needed to paint, replace floor coverings, etc. Sure, I've spent on upgrading some furnishings, and replacing a few things that wore out, but I've never had damage or wear and tear. Thus I recommend MTR in this regard. As I've cautioned elsewhere, the model is overplayed in some markets right now, perhaps especially where there are many underperforming STR's, so be careful if you're thinking of launching one.


 MItch, Great post and i appreciate your insight. The travel nurse era is still in full swing and I’ve seen a lot of MTR market their listings to that subcategory of tenants. How’re you listing your MTR’s? Have you used a site such as furnished finder? Thanks