All Forum Posts by: Gerald Renoe

Hello BP!!

I have an income producing SFH in Buford GA with great tenants. Would like to refinance it. I want to put the equity to work in another property.

Open to referrals or recommendations for great lenders / investors on this. 

I'll be cranking up some BRRR activity soon and would love to start a great relationship with a financial partner starting with this deal.

Thanks all!!

TRG

--Jerry Renoe

Hi, Russell! Thanks for the warm welcome and the wise input. 

I am considering all options and keeping an open mind. However, at this point I am most comfortable with the BRRR concept. I think I might start there. I have a few SF rentals in Atlanta now so being a landlord is familiar. I also hope to find some deals that don't need full rehab since a rental does not have to be fully updated nor perfect.

Agree 100% that full rehabs are complex! I really want to get into them down the road. I rehabbed both of my rentals when I bought them and just sold my house in WA that I had house-hacked. All three were a huge undertaking with tons of ups and downs! 

Hello BP'rs. I am so excited to be here. 

I am a long time "on the side" rental property owner who has taken the plunge after a long marketing career. 

I just completed a 1000 mile exploration of markets from Tallahassee to Miami. I will be picking a market soon and cranking it up! 

I am brining cash, 25 years of marketing know how, and 15 years of rental ownership to the table...oh, and tons of hustle, obsession and passion. 

Right now I am considering doing BRRR, wholetailing and flips...but I am open minded.

I have been devouring the podcast during my windshield time...so as soon as I pick a market I'll be networking and looking to build a killer core-4 and team!!

Looking forward to sharing the journey with you all!

Investment Info:

Single-family residence buy & hold investment in Roswell.

Purchase price: $140,000
Cash invested: $20,000

This was the one that got me hooked. Ever since I bought this one I have dreamt of going all in. After an amazing 30 year marketing career I am taking the plunge.

If you know the Roswell, GA area this house sits about a mile from downtown Old Roswell square. Bought as a REO. The kitchen floor had collapsed and the yard was a jungle...I was afraid but went for it!

It's now surround by high end developments & probably $250k now.

Best Schools. Great cash flow. Great schools. Quiet Cul-de-sac.

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

I was renting at the time from Bob Casey and we became friends. He became my mentor and we found and did this deal together.

How did you finance this deal?

At the time it was easy, low down, conventional loan.

How did you add value to the deal?

I managed it all myself.

What was the outcome?

It has been wonderful. It cash flows when rented. Right now my daughter is living there with two roommates and saving herself a ton of money. Great example of the power of real estate...I am able to provide this fantastic financial situation for my daughter.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

If you are in the Atlanta area I highly recommend Casey & Associates!