All Forum Posts by: Bryan Findlay

2 rental properties going to do the Deed form and move it into the LLC created already. What are most people doing to most assest protection? I no that your not offering legal advise, I am simply trying to choose the best option. Thanks for any help you may offer.

I am doing a BRRR on a rental and going to use the cash out refi money to purchase another. Are people doing this typically getting out the max allowed or what is sugguested? My situation is getting 75K back would make my payment $1489 and its being rented out for $1725. Before the refi the payment was closer to $1100. Please give me some input?

A rental property of mine is renting for $1725 and mortgage is currently $1125. We have been doing the BRRR method and are currently doing a cashout refi to buy another (nothing set in stone on the new purchase). Our appraisal came in much higher then anticipated and we can pull out up to approx. 82K. However, with that, our mortgage payment becomes closer to the $1570 range. Obviously the property we have renting for $1725 would still cash flow but not by a lot and it makes me uneasy considering we are used to flowing t. Is there a sweet spot on how much to pull out for the BRRR or are people trying to take out every penny they can? My goal is to continue to acquire rentals but ensure that they are cash flowing comfortably... I don't know what the comfortable mark it but prior cash flow has been$600 monthly. Any BRRR or experienced people please direct me or give me some insight from your experience and tell me what you would do?

-Bryan

"God bless our troops and first responders....Without that, real-estate means nothing."  - Self 

Did you ever go through with this deal and if so how is it?>

We currently own a few single family rentals which both cash flow and have about $80-100K in equity each. Our intrest rate on these rentals are in the very low 3's, pretty good. I am wanting to take about 50-60K cash out refi on one property which will allow me to turn around and purchase another rental using that equity, none or little from my own pocket. The issue I am having is the new intrest rate will be about 4.5%. So yet... I would be cashing out with the refi to get another rental home, I would be buying a higher rate and closing costs. Is this not smart? As opposed to a HELOC or some other way which I have no clear understanding of? I am trying to use little to no money out of my pocket when doing this to land another rental. The cash-out refi process is more to my level of understanding so I'm comfortable with it but just worried it's a bad move considering what my scenario is? Please help, ideas, suggestions?

I have the same question. If your from Idaho, I have all the official leases, agreements, move in/out inspection forms etc. I then went to a website and had someone put my logo LLC on the forms to look legit. From there it's been pretty easy to just handle myself. I have used Cozy.com which is free and it's alright i guess. I am in the ada county area, feel free to reach out for anything. - Bryan

I will be ahead 150K upon 1031 sell completion and i'm moving that money into the idaho market (ada county near boise/meridian/nampa etc).  Most interested in cash flowing but wanting to also best capitalize on this move while ensuring my rentals will cover themselves.

My thought was to take the 150K and get two newer homes in the $275,000 range (single family).  And split 75K in between those two new purchases. My number's show this would cash flow doing it this way but wondering what other options would potentially be better.

We have a rental property that's ready to be rented August 1st 2020.  We have found qualified tenants, however, they would not be able to move into our rental until the August 18th 2020.  I have always kept it simple in that rent is due on the 1st of each month along with full deposit. I don't want to loose them or be unreasonable by charging them from the 1st of the month, although, I'm sure I could as this was how it's advertised.  I dont want to be unreasonable either and charge them full months rent when they wont be here. At the same time, I don't want to loose out money on the days from the 1st-18th. H

How do I handle this so that these tenants will still be paying rent for future dates on the 1st of each month?  Do I just charge them for the 1st of August when they wont be living here?  I don't feel like this would be good, but then again everyone has various opinions. THese people were very qualified and i am okay with being reasonable but how do I not loose out on money and not make this complicated?  

The new perspective tenants seem reasonable and are asking "what do we need to do."  I would like to require at a minimum the deposit, to lock down the home from them in addtion to charging them rent from the 15th =30TH (pro rated) and having SEPT 1st be first full rent payment due?

I live in Idaho and have two rentals and looking for a legit software (nothing crazy) that will help me stay organized, have proper forms such as application, lease etc.  Can anyone provide recommendations which i am okay paying a monthly fee.

Thank you! 

I need to file taxes still and looking for an accountant.  Someone who is aggressive and knows the ways to max you return is what i am looking for.  Someone who knows the tax advantages and understands real estate markets sales/investment and max tax write offs. Someone who is on the aggressive, creative style type side is what i am looking for.  I have 3 homes and other investments so there is a lot that could be missed for write offs with the wrong person.  Can anyone refer me to someone in  ADA COUNTY, ID that fits this ?