All Forum Posts by: Jonathan Z.

Does anyone have any thoughts on the other stats that Truilia provides such as median age, education levels of area population, owner occupancy rate, etc? Or can anyone recommend other sites that are better/more reliable to get this type info? thanks!

A little context: I'm looking for databases from which to reference stats about the areas in which we are investing. I like to give numbers when I provide a picture of the properties and surrounding areas to substantiate our comps and target market but I don't know how confident I should be in the stats on trulia. Any help is appreciated!

Thank you everyone for all the advice!

Hey amazing BP members!

We have a quick question regarding insurance for properties that we are in the process of rehabbing.  The quotes we are currently getting are quarterly but generally more than the amount for insurance on a finished property for a whole year!

Does anyone have any suggestions on how to approach it so that it is affordable but will still satisfy/protect us and our lenders? 

I feel like I am using the wrong lingo or something when I inquire about it, it becomes this whole ordeal and the price gets all jacked up by the end of it. What type of coverage do you guys usually ask for and what kind of rates to you generally get? 

If anyone has any references we could reach out to about getting coverage that would also be greatly appreciated! Thanks!

Great, thank you Dell! Do you ever put the lenders in the LLC as well? Or recommend that they themselves create an LLC to lend out of?

We like the LLC structure for our own investments because we can take advantage of the Self-Directed IRA and other IRA's through them and were considering suggesting this avenue to our lenders but wasn't sure if there are downsides to this they/we should consider first.

Thank you again for taking the time to answer our questions!

My partner and I have recently decided to hold a new build that we were originally planning on flipping. Our plan is to refinance the property and leverage the equity (and also take out an equity line to use like cash) to fund future investments. We are concerned that we are overlooking something important in our strategy because it just seems too easy and obvious....

Besides the monthly payments back to the equity line if we do use it, say for a cash purchase, are there other fees, restrictions or downsides to having or using and equity line on a property?  

It is a two Family 3bed/2bath + 2bed/1bath split in an up in coming suburb of Boston, MA.

We have not gone through the refinance or equity line processes before. Any advice or things to consider from those who have?  We assume that it varies but how much time does it generally take to refinance and get an equity line in place?

Thanks!

My partner and I have recently decided to hold a new build that we were originally planning on flipping. Our plan is to refinance the property and leverage the equity (and also take out an equity line incase we may need it at some point) to fund future investments.

Are there any changes in the construction itself that someone who has done this before could recommend we make to make it better for rentals? It is a two Family 3bed/2bath + 2bed/1bath split in an up in coming suburb of Boston, MA.

Thanks!

My partner and I have recently decided to hold a new build that we were originally planning on flipping. Our plan is to refinance the property once complete and leverage the equity (and also take out an equity line incase we may need it at some point) to fund future investments.

Are there any changes in the construction itself that someone who has done this before could recommend we make to make it better for rentals? It is a two Family 3bed/2bath + 2bed/1bath split in an up in coming suburb of Boston, MA.

Thanks!

Dexter,

tomorrow Boston AREIA will be having a meeting here is the link; 

 http://bostonareia.com/resources/upcoming-events/

@Marc Carlson than you for reaching out! I am looking forward to learning about the market. 

thanks!