All Forum Posts by: Don Mangiarelli

@Einat Menashe I too am in Huntsville.

Also, yard service and pest control. Do you pay or do the tenants pay? Why do you do it that way?

Thanks,
Don

Hi all,

Looking to see what you Alabama landlords do with Water/Sewer, Gas, electric, and rubbish services? Do you pay for them or have the tenants pay? Why do you do it that way?

Thanks,
Don

So if you refinance at 75% LTV you are looking at $209,000*0.75 or $156,750-$87000 (The bank will want this loan paid off so they are not in second position if they have to foreclose the house) for a total of $69,750 (minus closing costs). If you are going to BRRRR, are you going to be able to purchase and rehab a house in your area for $69,750? And you need to consider the seasoning period of the lender (let's say 12 months). Are you able to carry the costs of a rehab for 3-6 months while the work is performed and before you have it rented? If the houses in your area are going for $200k + you are going to need to make sure that all of your numbers work before you decide to jump into this, or you will need a partner or some other form of creative financing to make it work.

Hi all,

Is it frowned upon when you try to negotiate on an REO property? I am a newbie investor looking at properties to BRRR. I am seeking REO properties and am about to enter into the process on my first property. Having never done this before, I would like some advice from the seasoned professionals on here as to what is ok in seeking a deal, as opposed to what is unethical or what is frowned upon in the industry. Obviously, I want to get the best deal I can. Thank you in advance.

@Lane Kawaoka
The money doubled, not the property. I sold and acted as the bank (seller financing) and my investment in the house doubled in 7 years as the mortgage was repaid over that time.

@Greg Gaudet median home price is $750k. Cap rates are low, unless you are strictly flipping, it's not worth it. There are far better markets to invest in than here.

@Don Roberts daytime is tough to make for me due to my business, but I will try to make it. As of now I'm open.

@Robert Matelski mahalo! Added and following. I will be in touch.

@Eric D. Sounds good. I will be in Seattle moving my daughter between houses Aug 23-sept 3. Other than that, hit me up and I'll make it work.