All Forum Posts by: Erick Duran

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $15,500
Cash invested: $41,000

Gross rents are $925 with a property manager in place. First investment property. I was lucky enough to pull all of my cash back out of the deal. It was fully funded by me and credit cards. Wayne Savings for the win on the Refi.

What made you interested in investing in this type of deal?

Bigger Pockets Podcasts. Navy friend already investing. Im 42 now and should have started way sooner.

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

I found it through talking with a local realtor. He gave me this pocket listing after having him show me a few listed units. Seller wanted more but knew is wasn't worth much more.

How did you finance this deal?

My own cash and 0% percent offer credit card.

How did you add value to the deal?

Fixed up the interior, mechanicals and roof.

What was the outcome?

Rented out and working out.

 Than you very much for all of you recommendations. I'll be reaching out today. Let me know if I can be of service to you in any way as well.

It is definitely through my LLC. I'll look him up today. Thanks for pointing me in the right direction

Thank you, I bought this property back in March through my LLC. This month would be 6 months. Rate shopping I go for sure. I appreciate the feedback.

Afternoon to all. Just wanted to jump on here and ask for suggestions on banks that I can refinance my rental through in CANTON Ohio. Just finished the second R in BRRRR and need to move on to the 3rd R. I'm an out of state investor and have a single family home that I just rented and is cash flowing well but need to pull my cash out to buy the next property. My rental is under 100k ARV so that's what has me concerned right now. It was not easy to find lenders to do the deal with sub 100k ARV numbers so I did it al in cash and even though there was some bumps along the road, its rented and cash flowing well. Any suggestions are very welcomed. First rental down and want another one before the end of the year.

Investor friendly as in virtual. Can handle all transactions via docusign and email or text. Possibly even discounted rates for return customers. Not all clients can or want to go into an office right now especially. Any recommendations would be very much welcomed. 

@Tyler Hungerford

Any investor friendly escrow companies that you may recommend?

@Jayden Hamilton Sit back and be thankful that you made your 3 properties come to fruition. Most people would kill for that. Step back and really think about how you can spend your time wisely. Use an excel sheet to allot your time for the entire week. That would at least let you know if your giving too much time to the things that aren’t useful. Think of it as a time budget. Cheers my friend.

Just created my log in for Duns. When I get the temporary password email,I can’t get it. Tried copying and pasting to avoid errors as well as typed it out several times myself. Reset password 4 times now and still can’t get in. Anyone else experience this and how’d you fix it?

@David Mo

Don’t think I’ll be rehabbing just yet. I have some quotes coming in to make that determination. Looking for places to get quotes from now. I’ll take either and run my numbers against them.