All Forum Posts by: Britney Ross

@Bob Stevens I have excellent liquidity and credit score, have done 2 BRRR in the last 2 years as well but the terms have changed dramatically for private money and DSCR loans and now I am struggling to get the next one under contract.

Does anyone know of a private money lender that would work with me on realistic terms and interest to acquire a quadplex in Cleveland that is recently remodeled and vacant at the moment? It needs maybe $10k in some work on mechanicals and small repairs to go live and getting it for much lower than market value, just need a lender options with solid DSCR loan terms!!

OK, so I have heard a lot of different advice from friends in real estate, property management companies, my lawyer and COAS on the right way to set up your business. I am interested in to invest out of state and currently have 2 properties in NC. Has everyone set up an enterprise holding company and open a brand new LLC for each new property? Do you have a registered agent for every property you purchase out of state and assign that to your LLC? Are you paying every single time to have a registered agent locally as well as paying to set up your LLC for each new property? the amount of fees I am paying just to get everything set up is insanely high and really eating into my time to start investing and my upfront investment money. Any advice is greatly appreciated!

For reference I set up the enterprise holding company in Eyoming and have a legal team as registered agent for $230/year, then set up 2 LLCS in NC and I am the registered agent since I am local at $200/LLC per year and then Ohio I paid $99 to set up LLC and yearly fee then $120 for local registered agent.

Investment Info:

Condo buy & hold investment.

My first real estate investment purchase was an adorable beach-adjacent condo that I lived in while renovating during the pandemic and flipped to an AirBNB. It has been an equity cash-cow and appraised at double what I spent in less than 2 years of ownership an brought in $15000 in year one of rentals.

How did you find this deal and how did you negotiate it?

Off market pocket listing from a friend

How did you finance this deal?

conventional

How did you add value to the deal?

renovated myself

What was the outcome?

Doubled value and over $140k in equity