All Forum Posts by: Chris Barrett

I put LVP in my rentals, so far people love it. Cooler than carpet in the summer, warmer than hardwood in the winter. 

A good deal depends on your criteria :) 

It actually doesn't matter if you are purchasing for cash or financing - it matters how much the purchase + reno will cost compared to the after repair value. Typically you want the B + R cost to be 75% or less of ARV. That allows you to get your reno money back out, and some cash as well on the refinance.

IF you are confident in your numbers, you can shop around for another lender. 

I had a really poor appraisal on a BRRR where the appraiser used the same comps as when I purchased the property 9 months earlier. I ordered a 2nd appraisal and offered the bank 10 comps as well as FMR values and the leases that I signed. The 2nd appraisal came in 200k higher.

When I google anthrax in plaster, the only results I get are for the UK. I have never ever heard of anthrax in plaster being a concern in the US. Also if it's horse hair plaster they probably wouldn't have used asbestos but you could get it tested. 

Either way, those are only concerns if the condition of the plaster is in dire straits. 

The properties need to make money, otherwise what's the point? At current rates, it would be extremely difficult to have maximum leverage and have any property pay for itself through normal rental income. 

Indeed there are friend!

So to follow through on your topic promise Samuel, how do you find these deals? :-D

Any time you are the lender you have to do due diligence and underwriting. However from a buyer's perspective I'd jump all over an opportunity for someone to lend me money sub-5% at this point.