All Forum Posts by: David Goodman

@Satya Chaganti

Check out Kingston Springs!

I've tried exporting a pdf rental analysis to present to a potential partner, but there seems to be a glitch. Is this a fairly common occurrence?

I do some investing in Nashville, TN but prices are extremely inflated for the BRRR method. I'm hoping to put together a good team to look into deals in Birmingham, AL.

Would anyone down there like to connect?

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $240,000
Cash invested: $25,000

Rooms rented in Nashville

Investment Info:

Single-family residence buy & hold investment in Nashville.

Purchase price: $164,000
Cash invested: $10,000

7 Bed Sober-Living House

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

On the MLS

How did you finance this deal?

FHA Loan

How did you add value to the deal?

New floors and paint in the kitchen. Finished the basement.

What was the outcome?

We now have a operating sober-living home.

@Lucas Carl

They will do a HELOC on an investment property? Those are harder to find, right?

@Lucas Carl

They will do a HELOC for an investment property?

Hey guys - I got my start in investment property with my work in sober-living. Our first home that we bought over 5 years ago now has equity of about $150k.

How would you put that equity to work to help purchase another investment property?

You can either get do the $10k loan or the PPP (Paycheck Protection Program). Since It's unclear whether or not the $10k is forgiven, I'll be going with the PPP application. For more info check out

https://www.sba.gov/funding-pr...

I received this from my lender who's been approved to do these loans. The first couple paragraphs are useful

PAYCHECK PROTECTION PROGRAM (PPP) INFORMATION SHEET:

BORROWERS

The Paycheck Protection Program (“PPP”) authorizes up to $349 billion in forgivable loans to small businesses to pay their employees during the COVID-19 crisis. All loan terms will be the same for everyone.

The loan amounts will be forgiven as long as:

 The loan proceeds are used to cover payroll costs, and most mortgage interest, rent, and utility costs over the 8 week period after the loan is made; and

 Employee and compensation levels are maintained.

Payroll costs are capped at $100,000 on an annualized basis for each employee. Due to likely high subscription, it is anticipated that not more than 25% of the forgiven amount may be for non-payroll costs.

Loan payments will be deferred for 6 months.

When can I apply?

 Starting April 3, 2020, small businesses and sole proprietorships can apply for and receive loans to cover their payroll and other certain expenses through existing SBA lenders.

 Starting April 10, 2020, independent contractors and self-employed individuals can apply for and receive loans to cover their payroll and other certain expenses through existing SBA lenders.

 Other regulated lenders will be available to make these loans as soon as they are approved and enrolled in the program