All Forum Posts by: Dave Poeppelmeier

@Hosnah Agban, if you're property is Section 8, you don't need to worry about the new Lead Law. They're going after 1-4 unit rentals that aren't inspected by any other entity that are run down and unsafe. Or so they say. At any rate, you should be good.

@Curtis Hummel, I agree this is a 3-beer conversation. I would recommend getting a book called "Landlording on Autopilot" by Mike Butler if you've never managed a rental before. If you're looking at a multifamily to live in one unit and rent the others, it's a great strategy that I've considered myself before, but you don't want a Tenant from Hell living above or next to you. Just a thought.

Dave

We also started using Cozy, seems pretty easy to use. We get the money fast enough, and I like that the tenants get a notice to pay or they can set up autopay. Free is also good. I might check out that Venmo though, looking at the other posts, it sounds solid as well.

Thanks MJ. So it sounds like l that would not be an outrageous request to a Private Lender, but to a formal Hard Money lender, forget it. 

Hello, I had a question regarding Private Lending/Hard Money. I have spoken with a couple of local lenders and what I keep hearing is 20-25% down. I have 3 SFH and have performed a flip, so I have a better idea of what I'm doing and have experienced the Money Pit house that gave me a lot of "experience". That house killed our Reserves but now all 3 houses cash flow. I want to keep building my portfolio but now I don't have a lot of money up front. Has anyone ever heard of lending with less money up front but a much higher interest rate so I can refinance on the back end and essentially "pay" then? Or is it 20-25% or go home. Thanks!

Hi all, my name is Dave Poeppelmeier, and my wife Michelle and I are Buy and Hold/Flip investors in Toledo, OH. We have 3 SFH right now and have done a flip, and are looking to grow! I am a Physical Therapist by trade, but I love Real Estate. I love finding a house, breathing new life to it, and renting it to good people. I really like what I see from Bigger Pockets, and am looking forward to meeting other like-minded investors. The great thing about this is that it takes away the personal fear factor: I have never felt comfortable in that room of strangers "Networking", and I'm sure there are more people like me out here. Thanks!