All Forum Posts by: Jeff F.

Hi @Account Closed 

I've not had many issues - the property is cash flowing. and I'm living for free as well. Im planning on moving out after I hit my year in the property, and then the numbers will greatly improve.

No issues living next to tenants, It helps, as I can keep a closer eye on the property.

keep an open mind and keep looking. since you dont care where you live youve got that going for you. 

hi 
im currently foing this. I have a 4 unit building and rent 3. no structure just personal name on the note. I did four units so I could use FHA and put 3.5% down.

working well so far, 6 mos in.

Hi @Cheryl Packham -

I dont think I talked to him specifically, but I did talk to someone there and they were unable to carry a policy for it. I did find someone - Timberline insurance in town said they will be able to write a policy for it, thank god.

J

Hi All -

I'm currently under contract for a 7 unit building that I think is a great opportunity (meets the 2% rule even!) I got it at a great price because it's a bit run down and in need of some TLC, and that is causing issues closing the deal because I cant seem to (yet) find anyone willing to insure it - even just for purchase value.  All of you insurance pros or people who have dealt with someone similar, please let me know what rock to look under. I've called at least 10 agencies. 

Some Stats:

Year built: 1916

Wiring - Not updated

Roof ~3 years Old

Plumbing - Not Updated

Heat - Gas/Forced Air, updated ~ 2 years ago. 

Approx 3500 sqft

Welcome @Bryan Soriano What niche suits your skills and piques your interest?

Wow. totally worth the wait. Those numbers are fantastic! Now you can do the last 2 r's of the BRRRR and get another one, or 2?

There's a market here - I suspect that I'm the one @Mindy Jensen is talking about. @Tyreese Gadlin If you want to meet for coffee and talk shop, let me know. One of my friends is under contract for a small MF here in cheyenne as well - @Forrest King

There are plenty of ways to do what you need. FHA Is a great suggestion, though for this, you may want to see if you can get the seller to carry part of it and have the bank do the rest.

your heloc is also an option. There are plenty. See what will make the deal sweet for everyone involved. 

why are you against using a HELOC on one of your free and clear rentals?