All Forum Posts by: James Rey

Matt Castle we are up the street from you in Maryland for SFH and you mentioned some lender at 6/7 and one. Would you mind messaging me? I tried but did not see your contact info. BTW I saw you had an interest in multi family. My partner and I have been doing multi family up and down both coasts for a while now pretty successfully. If I can help you in any way please let me know.

@Jamal Okon

Hi Jamal,

We do also do SFH and Commercial Residential in the Baltimore Metro area. If I can help in any way, please feel free to reach out!

James

Hi Sam,

We are in Ellicott City and invest in the Baltimore metro area both for SFH and Commercial/Residential.

If you want to talk or we can help you in any way just let me know.

Thanks

James

@Rich Cavanagh  Thanks for the link!

Sorry for the silly question. What is BRRR?

Hi Tyler, Welcome. I'm in Ellicott City. James

@Dan Costantino  a friend of mine wants to take Robyn Thompson course and I do not know what to tell her.  Did you take her course and if so was it worth your time and money?

I believe pads should be around 35% and POH's between 55-60% depending on age and how well you screen your tenants.  Do you have public water and sewer, well and septic or a combo of the two?  Water leaks can be very expensive so you have to monitor readings and investigate any fluctuations.  

Hi RJ,

We own several MHP's in GA. Though we counted the rents from homes as part of the NOI, my understanding is that lenders will only count the income from the land when and if you go to get financing. They see the homes as literally a depreciating asset (as you know it gets taxed under the DMV in most states). We got owner financing so for now we don't have an issue. When our note is up in 10 years (or 15 if we go with the option) we'll cross that bridge.

Hope that helps a little bit.

You'll have to check with a real estate attorney but I believe you can also put the deeds in escrow.  If for any reason you were not able to perform on the note for more than 60 days or 90 days he could get the deeds back w/o going the foreclosure route.  I believe that is correct, but someone else with more experience may want to chime in.