All Forum Posts by: Jason Hodges

Great stuff. Thanks. I’ll check it out. 

What are the best companies you have used to direct mail multi-family owners and brokers?

Hey everyone!  Can anyone point me to a checklist for buying apartments?  Though we have experience in purchasing, managing, and selling apartments, we are trying to get our hands on other checklists to learn and better organize.

Does anyone know of any checklists that I can find?

So what do you think about landlords paying for lawn care for c class properties? One of my investor friends says no way and our property manager says if you don’t do it they can’t afford it and then your property will not be cared for.

What should I do?

@Kevin Sobilo Yes indeed I thought about that too. Good idea.

@J Scott Great points. Interest on card is 17%. Cash on Cash return is 15% for this property. My next step is to flip a property for about a $35,000 profit and sell it within 4 months. Would it be worth it?

I have 25k in the bank and have 12K on my busIness credit card from a rental I just fixed. I currently have 4 properties that are giving me a good cash flow return. Should I pay off the 12k or just pay the minimum balance and use this money on a potential flip I’m looking into? I obviously want to keep as much cash as I can in order to give me the potential to flip another house. I flipped one successfully 18 months ago which allowed me to purchase the 4 rentals Just curious as to how folks view not paying credit cards in full in order to continue purchasing.

Excellent, thanks for the advice. 

As I mentioned in my first comment I do believe the appraisals can go a good bit higher. 

So I need some help doing the BRRR strategy successfully... So I just bought two properties and put around $15,000 into each of them. My current lending bank basically just told me, not to my surprise, that there is not much room to refinance and take money out. I put 25% down of these properties and also borrowed 80% of the renovated costs. Here are the numbers on my two properties.

I of course believe the houses have appreciated in value.  The bank basically told me they are not sure if a refinance appraisal would work?

Thoughts on next steps?  Should I just pursue other banks and get an appraisal?

• Property 1 - Appraised for $119,000

• - Maximum loan amount at 75% is $89,250

• - Current loan amount is $89,250

• Property 2 - Appraised for $86,000

• - Maximum loan amount at 75% is $64,500

• - Current loan amount is $63,562