All Forum Posts by: Brandon Larson

Hi friends!  I'm fairly new to property management, with 1 duplex, which I have been managing for a few years now. I would like to expand a bit and put some systems and processes in place and generally get a little more serious when it comes to the management side.

In Brandon Turner's Book- The Book on Managing Rental Properties, in chapter 3 he talks about creating a company policy binder. Which essentially puts some standards in place and a good guideline for handling all things in the company. ie. company mission, telephone standards, tenant screening process, etc. 

I would like to implement this myself and was hoping I could see some examples of some as a template. Have any of you property managers out there implemented something like this, and would you be so kind to share yours with me so I can get some ideas? 

Yea, @Nathan Gesner is that legal to enroll someone in an insurance policy and then charge them for it? That definitely sounds illegal. Please correct me if I'm wrong.

I'm looking to purchase my second multi-family property in Minneapolis. I haven't bought in North yet, but I've analyzed many properties in North Minneapolis and many of them look to cash flow quite well. However, I'm looking for an investor-friendly agent who knows the area a little better and might know which neighborhoods to avoid and also might have some market insights for me. Message me if you can help!

I am preparing for an appraisal that I am receiving from my HELOC bank. First time doing a HELOC and first time BRRR. Does anyone have any tips as to get a great appraisal value? Should I point anything out specifically? Should I do additional comps for the appraiser? Do I need to clean or are they mostly looking at structural things? I live in Minneapolis, which is very wintery right now. Are there any downfalls to doing an appraisal in the winter? Any tips for a first-timer would be appreciated! Much love to the community

What makes the HELOC dangerous? Is it because it's being used for a renovation? What if I'm using the HELOC to put a down payment on another investment property? Is that "dangerous"?

What are the benefits of a fixed rate equity loan vs a HELOC? What if my HELOC is a fixed rate?

First-time homeowner and BRRR. I have owned my duplex for 18 months now. One unit is renovated and rented, and I occupy the other unit. I have significant equity in the home because of a large down payment. I am looking to get that money out to do renovations on the unit I occupy, as well as invest in another multi-family property. I have cash reserves for the renovations, but I don't want to run them dry. I am currently applying for a HELOC because I don't know if a cash-out refi makes sense with the current prime rates (my mortgage is locked in at 3.25% and I don't know if it's worth refinancing at a much higher rate.) Does it make sense to do a HELOC in this scenario? And if rates go down and I want to do a cash-out refi later, will I have to pay back the HELOC in full first before I can do so? Or can I pay back the HELOC with the cash-out refi money directly after?