All Forum Posts by: Gregory Schwartz

 SOPs (Standard Operating Procedures) are huge no matter the size of the operation or organization. We have templates for the major notifications, lists of primary venders, and basic how to's for things like listings, leasing process, evictions etc.  

@Robert Lipscomb I love a good After Action Report. The key thing to remember about AAR is that its very easy to sit around and discuss what went wrong and what you would have done differently but its another to actually reference that material to improve your processes.   

thanks @Cedrick Mahieux. I'm sure this wasn't easy to collect. 

Thanks @Scott Trench. 

@Kevin Leahy sounds like you all are already 2 steps ahead of me. Glad to know my favorite podcast channel is on top of things. If you need any great ideas I'm full of them (just ask my wife). 

Normally I'm not one to rant... but here it goes. The BP family of the podcast has a major flaw in their basic understanding of mathematics.

@Brandon Turner I expected more from the OG of the podcast.

@Mindy Jensen for someone who loves her job I can't believe you missed this.

@Scott Trench el Presidente this one falls on your shoulders. 

@j scott and @carol scott this is counter to good business modeling.

@Felipe Mejia and @ashley kehr as the rookie podcasters I don't hold you as responsible.

So here its is... 

the standard workweek has 5 days.... you all only have 4 podcasts! What am I supposed to listen to on Friday?

Thanks, guys love the work!!

I feel like this should be a BP survey. It would be some very interesting data. 

@Jack Henderson we're seeing rates for primary home rates in the low 3s (3.2-3.4%). As a rule of thumb investment loans can be somewhere around .5-.75% higher than primary. You might consider putting your daughter on the loan making her the primary borrower and cosigning for her. If she lives there for 2 years you all could avoid capital gains tax. 

As a side note, I am not a mortgage broker or a CPA. Just a guy who loves investing. 

As a last thought, there are some very nice duplexes in the area that your daughter could house hack. 

@Andrew Postell thanks. 

I'm lining up my first true BRRRR. The asking price is $40k and I'm looking to make a $30k cash offer. Rent should be between $700-800/month. To make this deal work I would want to refinance $37k out (about 60% LTC). What are you all seeing for terms on these "cheaper" mortgages? I'd like to see at least 25-year amortization and under 6%.

@Ronak Shah I'm waiting on more financials. You make a good point I need to dig into the town and local demographics more.

@Zach Griffin My thought on value add is that if they are and have been 100% occupied that maybe they're under market rent enough that we can increase prices. The problem is determining market rent in such a rural location. I'd like to automate it as much as possible. The self-storage lot were I keep my extra crap has been running without any staff for the last 2 months no problem in large part due to the coronavirus. 

@Greg Dickerson what sort of numbers or percentages should I expect. I'm familiar with multifamily vacancies and expenses but don't know as much about self-storage.