All Forum Posts by: Ian Hooper

The BP calculators are easy to use, and present the data in a neat package. I like them a lot.

Micah, Did you make it to the meeting? Ian

Hi, I have a porch that seems to be separating from the house. Can folks with knowledge of Louisville, KY please send some referrals my way. I also need a contractor to walk through a potential rehab property with me. Please send suggestions. Thanks, Ian

@Brandon Turner,

I enjoyed the webinar, last night, and have been using the BRRRR calculator since I went PRO, last week. We are analyzing a proposed deal and we have questions.

How can we use the calculator to factor the rehab period, when there is no income? The deal we are analyzing is a bust for us, but the BRRRR calc makes it looks less impossible than it actually is. It analyzes a -$110 cash flow for the acquisition phase, but the rehab period will actually cost $740.

Please consider adding a third section to the calculator that figures the certain non-rental period of a deal like this. I considered using the high vacancy rate to accurately express this holding period, but then it would skew the rest of the analysis.

I'm sure that others are having similar experiences. Has anyone been successful using one of the expense categories to come up with a more accurate picture of the pre-refi period of a BRRRR deal? Any other ideas?

@Brandon Turner, I'll PM you the link to this analysis sheet. Can you please critique it?

Thanks,

Ian

@Brett K., How long do you expect the event to last? I have appointment in the West End that ends at 7pm. Will folks still be around at 7:30?

Sharon Vornholt yes, we were at KREIA, last month, and will be there next week. The lenders that I've called so far were referred to me by KRIEA members. Do you have anyone that you can refer? Inbox msg is fine.

Friends, I'm working with some lenders for pre-approval, for my first deal. Of the three lenders that I've been referred to, I'm only impressed with the service I've received from one of them. I'm sure that size of this initial real isn't too impressive to them, but it's been like pulling teeth to get them to even confirm that they received my applications. Please recommend some lenders conventional, portfolio, or otherwise that will be receptive and helpful to a newbie investor. Thanks

Will you please walk me through the formula you used to arrive at that number?

I have an agent. We met when I was purchasing my home, and then he helped me sell my mother's condo, when she died. He is an investor himself, and is the person that sparked my interest in the industry.

I've got an attorney for some stuff, but I don't have a real estate specialist nailed down yet. I was referred to one at the KREIA month last month, and I plan to connect with him this week. Please recommend someone.

I have a GC connection that is currently working on some of Portland improvements, but I have yet to approach him. I have a couple of other names. Please recommend someone.

I need an accountant. Please recommend someone.

I've spoken with some loan officers, last week, and have submitted financials for pre-approval. Please recommend someone.

40214, 40215 are where I've done most of my research and leg work. I'd like to hear some experience from folks that focus in the West End investors. 

Who likes Portland?

I was driving for dollars, and found an unoccupied and untended duplex on otherwise nicely kept street. My research has turned up that the property is owned free and clear by an elderly woman. I have located her son via Facebook, and even have a phone number for him. I have an appointment with one of my mentors/team members who is going to coach me through the call to her son, tomorrow. 

What should I ask her son? If he is receptive to a conversation, what type of questions is likely to ask me. Any and all experience is appreciated, as this is the first time I've used this technique.

Thanks