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All Forum Posts by: Jacob Sloop

Jacob Sloop has started 12 posts and replied 239 times.

Post: [Calc Review] Help me analyze this deal

Jacob Sloop
Posted
  • Rental Property Investor
  • Virginia Beach, VA
  • Posts 254
  • Votes 111

First thing I see without checking ANYthing else out...  built in 1907.   Be prepared for some headaches

Post: Help!!!! How to finance

Jacob Sloop
Posted
  • Rental Property Investor
  • Virginia Beach, VA
  • Posts 254
  • Votes 111

What's the mortgage payment and what will market rents be??

This is where you need to focus first.

Post: 1st fix and flip with zero out of pocket money

Jacob Sloop
Posted
  • Rental Property Investor
  • Virginia Beach, VA
  • Posts 254
  • Votes 111

Great work!  Keep it going

Post: House Flip Expense Tracker recommendations

Jacob Sloop
Posted
  • Rental Property Investor
  • Virginia Beach, VA
  • Posts 254
  • Votes 111

I've always used google sheets

You can share it with whoever needs to be included and its a live sheet so whenever you update something its there, no need to send out multiple updates, etc..

Id be happy to send you an example of how mine look...they are far from perfect but may give a good idea!

Post: Tips for rules to put in place when renting

Jacob Sloop
Posted
  • Rental Property Investor
  • Virginia Beach, VA
  • Posts 254
  • Votes 111

@Mary Eubanks

Bigger pockets has a great lease you can buy and download for your state. I’d suggest starting there

Post: What should I do with these wooden floors?

Jacob Sloop
Posted
  • Rental Property Investor
  • Virginia Beach, VA
  • Posts 254
  • Votes 111

@Benjamin Furney

Is this going to be a rental? If so that depends on your budget and clientele..

Those are pretty far gone, some stains will likely remain after sanding. And this is the floors guys least favorite part of the job I can tell you .. must be done by hand , labor intensive ..

That being said I’m like the others and love hardwood and try to preserve them when possible but if it’s too expensive then carpet

Post: Cabin vs. Condo: Smoky Mountains

Jacob Sloop
Posted
  • Rental Property Investor
  • Virginia Beach, VA
  • Posts 254
  • Votes 111

@Brooklyn McCarty

Also please be aware that some associations don't allow STR..

Post: Rental Property switch from personal to an LLC

Jacob Sloop
Posted
  • Rental Property Investor
  • Virginia Beach, VA
  • Posts 254
  • Votes 111

@Joshua Pavon

Keep in your name. Get umbrella policy. My 2 cents

Post: BRRR vs Conventional

Jacob Sloop
Posted
  • Rental Property Investor
  • Virginia Beach, VA
  • Posts 254
  • Votes 111

Please talk with a lender first. They have tightened up as of late..I squeaked by on my past 2 BRRRR's .

Also remember the guidelines require a seasoning period of 6 months, sometimes longer

Post: Who's excited for 2023?

Jacob Sloop
Posted
  • Rental Property Investor
  • Virginia Beach, VA
  • Posts 254
  • Votes 111

Looking forward to it!

Certainly have to be more conservative on the buy side but looking to help some more new investors get their first deals done.