All Forum Posts by: Jennifer Z.
Jennifer Z. has started 5 posts and replied 68 times.
Post: Suffolk VA, cabinet and floor

- Rental Property Investor
- Brookings, OR
- Posts 68
- Votes 28
This is super late, but I figured you may have more deals. Sun Woodworks with Mark Moore is great.
Post: Straighten me out please!

- Rental Property Investor
- Brookings, OR
- Posts 68
- Votes 28
Ha ha @Account Closed- people do call me JZ...may be I should change my signature :}
HML is a great option for flipping or flip and holds. Don't be afraid of the 6-12 month hold, just factor that monthly cost into holding cost and think in the long term.
And I was looking at the last emails I've gotten from HMLs and some will do 15% down of the purchase price with 100% rehab costs paid. That's a good use of 15% if you can refinance on the ARV later.
Looks like there are a lot of lower priced foreclosures in your area too. Good Luck!
-JZ
Post: Straighten me out please!

- Rental Property Investor
- Brookings, OR
- Posts 68
- Votes 28
Welcome @Account Closed! Love your style of writing btw. So, here we go...
If you are buying a foreclosure, some may be in better condition and are able to bank finance while others are in serious disrepair warranting alternative financing (hard money lenders, private lenders or cash). In my market, only cash offers or what appears as a cash offer will get accepted on foreclosures due to the speed to close and confidence in closing. You can try the hard money lender list BP offers or search on google for your area. HMLs can do a % down of the ARV and finance your rehab too depending.
Refinancing usually has a 6 or 12 month seasoning period depending on your local credit union/bank and usually they require 1 year lease.
Lenders- if you are going conventional, and have properties in your target market that would finance (ie no roofs that need to be repaired or major mold issues) then just start talking to local lenders and see what their requirements are. Do they keep loans in house?= can make smaller loans or bundle a package of SFRs. Ask other investors in your area who they use for lending.
The key to the BRRRR strategy is buying at a low enough price, factoring in realistic rehab budget, refinancing at 75% ARV to give you a spread to cash out and roll into the next purchase. This can take time to find the right priced property in certain markets. Say you purchased a property at 40k put 50k in=95k all in. Putting 15% down with a HML=13,500. If ARV is 150k, then refi with long term local bank 75% pulling out 22,500 to roll into the next property.
The more deal you do with HML the better the terms can be, so start with one and build up your experience.
Post: Able to LLC if your rental is on your primary residence property?

- Rental Property Investor
- Brookings, OR
- Posts 68
- Votes 28
Thanks @Ashish Acharya. It makes sense, and we do have an umbrella policy already. I guess when we move out and rent this house out, then we can put it in a LLC.
Post: Off Market Property Owner Script

- Rental Property Investor
- Brookings, OR
- Posts 68
- Votes 28
May be try listening to a podcast called epic real estate investing.
Post: Able to LLC if your rental is on your primary residence property?

- Rental Property Investor
- Brookings, OR
- Posts 68
- Votes 28
While looking more into asset protection, are you able to have your primary residence property in a LLC when it has a separate rental home on it? Or is it okay to just have a living trust as if it is not an investment property?
Post: What’s included when evaluating property

- Rental Property Investor
- Brookings, OR
- Posts 68
- Votes 28
Hi @Darrius Leach! I was just researching the Rockford market last night. The price points are very attractive and I can fly to Chicago easily...
Anyway, operating expenses can be maintenance and repairs, taxes, insurance, utilities, trash, snow removal, property management, landscaping, pest control, other office/accounting costs...pretty much any day to day expense of a business.
Post: Santa Maria, California New Investor

- Rental Property Investor
- Brookings, OR
- Posts 68
- Votes 28
Hi @Gregory Acosta! Real estate is so addicting! Are you looking to invest in your local area?
Post: New agent paying rent

- Rental Property Investor
- Brookings, OR
- Posts 68
- Votes 28
It is best to have 6-12 months of expenses built up prior to starting as an agent full time. Otherwise, you may need to find some flexible part time work to get by in the meantime. Good luck in your new career!
Post: Rental Income as Qualifying Income?

- Rental Property Investor
- Brookings, OR
- Posts 68
- Votes 28
At my local bank, the lender does use the 75% of rental income to qualify for the loan and would accept 1 year as a landlord with a newly signed 1 year lease = 2 years technically.