All Forum Posts by: Jeff Oberts

All great information. Thank you!

Jeff

Hello, how are private money lenders typically repaid for a BRRRR method transaction?

Example: our lender is providing us with $40,000 for the purchase.  How (term, rate etc.) would they typically be repaid if we plan on refi after 6-12mo seasoning?

Thank you,

Jeff

I thought so! Thank you all, very much.

Jeff

Hello, I am currently in the process of buying a small multifamliy (my first investment!) and I have encountered something that seemed odd in the process, so I was hoping you guys could shed some light.  The seller advised that she will be keeping the current tenant's (who will remain living there) deposit.  Is that right?  Shouldn't she provide us with the tenant's deposit (check or credit at closing) so we can use it or return it when the tenant moves out?

Thank you!

Jeff

Thank you, Natalie.  We have one account specifically for rentals right now.  You believe I should add another so I can separate them into one savings account for income and another (checking?) for expenses?

Thanks again,

Jeff

Hello, do you separate your cash flow into a separate account from your reserves for repairs, cap ex etc?

Thank you,

Jeff

Thanks, Jessica!  I'll have to check back with him, he suggested earlier that I give the bank a call to inquire about it.

Hi, guys! I'm mainly into short term rentals, but recently began broadening my REI exposure to learning about SF/multi-family properties. The other day, I was driving to MIL's house to drop off the kiddies, and there it was...the worst house in the best neighborhood that you always hear about. I did a little research and found out it's bank owned and a real estate agent I spoke with said "there's no movement on it at all" (whatever that means!). So, my question to you guys is, how do I go about trying to buy this house? Do I call the bank who owns it? Do I wait and see if it goes to auction? Any guidance is GREATLY appreciated!

Jeff

The book, "Tax Guide for Short-term Rentals" has tons of useful information.

All good points! Thanks, guys!