All Forum Posts by: Matt Rosenbohm

@Doran Summers

Hey Doran,

In Colorado we slip five properties per month we’re doing about 50 to 60 deals for year. I have a portfolio lender that provides us fantastic financing. Lending at 80% (loan to purchase price)

(1% origination, 5.5% interest, 12 month) we have a 4 million guarantee so we don’t have to wonder if we’re gonna have financing for the next deal.

 obviously, this is local bank lending so it’s a lot cheaper money than private money. But we are finding we don’t have a local bank option in Idaho and are looking for something similar, maybe not as high of a number because property prices are so much lower. Ultimately, were trying to find a relationship with a lender who we can rely on to fund our deals! We are planning to do 4 deals per month. ideally 80/20 and we find all rehab.

Hey BP Family,

I’m in need of some advice! I live in Colorado and have a very good lending relationships to flip properties in my state.

I am expanding to flipping homes in Idaho and have had a really difficult time finding lenders. I’m used to using local banks and portfolio lenders in Colorado but being a non-resident in Idaho that’s not an option as far as I can tell. What companies do you suggest I look into that would do funding for flips and investment properties in Idaho?

The only one I really reached out to his lima one, but I’ve heard bad things, so I’m trying to find some of you that have had good experiences with a company.

Would love any feedback or references!

Thanks so much!

@Shawn Ackerman

Thanks for reaching out. I am definitely open to other markets. I am in position where buying in Colorado just doesn't work for me right now with the skyrocketing prices cash flow is almost non existent. So I am looking for another market to find some stronger cash flow opportunities. 

What kind of return are you getting ie...

  1.Cash on Cash with 25-30% down 

  2. Cap Rates?

Hey Everyone.

I am considering starting a rental portfolio in Memphis. I currently have a quite a few units in Colorado (and live in CO) so I would be investing out of state. I would probably be looking to acquire 30-50 units. What kind of returns are you getting or seeing now? I know what I see online but would love input from some of you actually doing it? Also, what would you consider the downside of investing in Memphis?

 Would love to get input from those of you with buy and holds or active in Memphis, as well as some recommendations for a good investor agents.

Thanks in advance!

Matt

@Travis Sperr

Definitely a loose "conventional wisdom" as like you mentioned I have friends who have 10+ paid off properties and hare very happy. I love your example 25% on 100K vs 25% on 270k. I agree it changes the comfortably level a ton for me.

I am currently leveraged at about 50% LTV on my overall portfolio, so I have a little wiggle room on my LTV if I want to get cash out and reinvest, just trying to get a philosophy nailed down for my overall investing goals.

Luckily my flips are producing enough income to help me continue acquiring more rentals as I reinvest the profits from flips to holds so its not a matter of wanting to get more properties per se, I just hate seeing 2 million make 6% Cash on Cash.

Thanks again I appreciate your willingess to help the conversation thats going on in my head :)

Matt

@John Daley

Completely* 

@John Daley

Great points for sure. I think I wrestle most with this question for the same reason you mentioned, age. I am only 34 years old and would like to increase cashflow sooner then 15 years from now (when everything would be paid off). So I completeley understand why you chose to leverage at 70-75% and purchase more.

Thanks for your input! 

Matt

@Kevin Grinstead

Love the thought behind this. I currently have a bunch of spreadsheets on my computer evaluating many of these options!

And I agree @Louis L. It is all about figuring out long term goals. One of the difficult things for me is drawing that line in the sand of what is "enough." Ultimately, I am passionate about real estate because of the lifestyle it can provide, yet I never let myself enjoy the "lifestyle" because of the constant desire to make and do more. Definitely a good reminder to think about the end more often!

Thanks guys!

@Travis Sperr

Great input! I find myself thinking right along the same lines as what you've posted. I am continuing to buy properties and adding to my portfolio, but for some reason am having a hard time taking conventional wisdom on leveraging my equity and buying more with it. Seems almost all the advice I get is "take the money and buy more, stay leveraged that is the only way to make huge money"

I agree spending time focusing on managing current assets and not so much on acquisitions would do me well for a while!

Thanks for taking the time to respond,

Matt

Thanks @Thomas S.

I appreciate the input, some good things to think about!