All Forum Posts by: Brian Dickerson

October 2024 in Cancun. I forget the exact dates, but they announced it at the end of this year‘s conference.

 Is the universal studios on tuesday night a separate, paid event?  How much is the ticket?

Text me if you have a ticket available. Will remove once I buy one

 I'll take it 

 The VRBO algorithm heavily favors you if you are only listed there.  I have started my last few properties just on VRBO and they fill up a lot.  It slows down a ton once I list on airbnb.  Some people only use VRBO and swear by it... I think it's still better long term to be on both.

I'm curious what service this is, but certainly the VA assigned to your property would be handling others as well. Which isn't necessarily a downside. I've been using a hybrid model for almost a year now. VA hired from onlinejobs.ph , paid $250/week to be available 9am-9pm for message responses and maintenance. She takes about 80% of the management burden off me. The whole self management thing is nice in theory but when you get above 4-5 units, the number of issues that come at unwelcome times becomes frustrating. it's not the amount of hours, it's the persistent distraction / attention required. The VA route is a pretty good solution for this.

Well done brother!  The wife and I were just talking about you and the meetup yesterday, then I see this on my feed.  

I'm curious on others' input here. We go to Breck each year and would love to own a place there, but it has to cashflow to make sense for us. I looked at the #s in the past and Breck definitely puts up the biggest rental #s in Summit County but the purchase prices correspond with that. Frisco/Dillon are a little cheaper and lower rental #s. I wouldn't get one in Keystone though. Overall, after a brief analysis it seemed like we are better off renting there each year because the places I saw wouldn't give much of an ROI.

So an ideal BRRRR gets you all or most of your initial money (purchase + rehab costs) back through the cash out refi. In order to get the cash out refi to give you 75% loan to value on the appraised value AFTER you have rehabbed the property, conventional lenders usually require you to 'season' (wait) 6 months since the initial purchase. There are ways around that through delayed financing & including the rehab costs on the HUD statement but that's more involved; or commercial lenders also don't all require that 6mo seasoning either.

The way you bought the property initially (cash/hard money etc) doesn't matter, but yes the refi pays that off. In my experience, conventional lenders don't require a tenant in place to finance / cash out refi an investment property.

On the BRRRR's we've done, all with conventional 75% LTV cash out refis, the lender did not ask for projected income. Six month seasoning and they will lend it based on the appraised value. If you're getting up higher in the # of conventional mortgages you have maybe that's when it would matter more. If they needed it, I imagine you could just use projections as if it were a LTR.