All Forum Posts by: Eric Lamberton

Tennessee Investors:

I'm looking to find a great, local BRRRR Lender with experience with delayed financing.

I've already been "approved" by a lender that will lend 70% of Purchase Price plus documented rehab costs, but that has my money tied up for at least a year--or so I've been told.

So if you have knowledge of a great, currently-active BRRRR Mortgage broker in Tennessee, I'm ready to get started.

Thanks!

Thanks @Andrew Postell .  Will do.

I had a family issue come up.  Sorry I can't make it tonight.

Tennessee Investors:

I'm looking to find a great BRRRR Lender in Tennessee--one who may be familiar with the Delayed Financing as advocated by @Alexander Felice.

I've already been "approved" by a lender that will lend 70% of Purchase Price plus documented rehab costs, but that has my money tied up for at least a year--or so I've been told.

So if you have knowledge of a great, currently-active BRRRR Mortgage broker in Tennessee, I'm ready to get started.

Thanks!

I suspect rental rates have generally been flat due to the high volume of new construction in the area over the last 5 years.  I have been volume building since 2014, and I would guess that I have personally supervised the construction of around 300 homes in and around Austin.  Demand has still generally outpaced supply here.

As for your tax strategy, being out of state puts you at a disadvantage for homestead exemption AND the likelihood that you would protest your taxes is low.. being that it's time consuming for you to be present for the hearing.  

That's how it appears on my desktop.  It appears to be only there, on my mobile app it says the 12th.    Perhaps just a small programming error on the website?

Hi Jeremy,

Is this event going to be on the 12th or the 13th or February?  The main BP page says the 13th, but above it shows the 12th.  I look forward to going and meeting you on either day.  Thanks.

Does anyone out there specialize in Jonestown Texas--The area northwest of Austin, between Leander and Lago Vista?  I'd like to meet up, buy you a coffee, pick your brain and possibly put some deals together.  What do you say?

@Anjlia Holiday Thanks for your reply! I'm looking to jump right into the BRRR method. I've also explored the idea of building multi units-- my rough math doesn't work out building SFRs as rentals (If I'm correct), but the additional revenue from multiplexes makes sense as the cost to construct isn't significantly higher.

@Allan Bishop Jr. I'll be sure to check out the local REI meetings. I happen to work in Pflugerville now, so I'll reach out to Poem Turner.

@Steve Oswald I have a couple of long term holds in the Shreveport/Bossier area in Louisiana. One has had the same tenant that pays consistently since 2006! Definitely looking to the BRRRR strategy.

@Jeremy VanDelinder I would love to get connected in a Round Rock group--I pass through there almost daily anyway.

@Costin I.  Thanks for the links!  I'll look through them very soon.  I'm very interested in the meeting on the 15th.

@Brandon L.  I'll check out your blog posts as soon as I can (hopefully tonight).  Thanks!

Hello BP.

This is my first post.  I've been apprehensive about introducing myself for a coupe of weeks, but I've decided that exposing my vulnerabilities will help me minimize (or eliminate) them.  So here goes:

I live in Leander, Texas - near Austin. I'm a construction manager with a national volume home builder, but I also built my own custom house for my family (my why, also). And I do mean that literally, I used my own to hands and knowledge to build many parts of this home. I gained a lot of equity (think BRRRR) but instead of "buy", I "built". At first appraisal, I had about 30% equity (70% rule, right?) And this is with a lot of custom (more expensive) details.

The good:  I have good contacts in the trades to get work done.  I have construction knowledge including (rehab) cost information.  I have house hacking experience (although I didn't know it was a thing in 2002), and I have rental management experience since 2005.  I also have a degree in finance, so I understand $$ terms fairly well.

The bad: Lack of confidence:  1. That I'm analyzing deals correctly, although I've been voracious with the BP calculators lately.  2. In my own ability to generate leads.  3.  I lack confidence to make contacts on the investment side of this real estate industry. 4. I feel unprepared to act on a good deal if/when it comes my way.

At this point, I'd like to thank those already on BP for sharing their knowledge.  Several forums/posts/articles both validated some of my past successes and saved me from future failures.

For those that are local, perhaps we can plan a coffee meetup or a lunch?  I have valuable skills and contacts that I bring to the table and maybe we can help each other out.

Best,

Eric Lamberton