All Forum Posts by: Jeremey McClain

@JD Martin

Thank you.  I was thinking about using a line of credit or personal loan since I can leverage my credit and W2, but I've never gotten a line of credit for this amount of money at once.

Has anybody here taken a loan out specifically for repairs on a rental you own, with no plans to refinance immediately after or in the near future?

If so do you have any contacts for private lenders that will lend on repairs/rehab for?

@Ashley Hamilton Thank you! I'm hoping to build a portfolio there. As far as the work, the exterior of the roof needs to be replaced, as well new gutters. Also the sewage in the basement needs to be snaked out.  

Hello all,

I am looking to connect with a general contractor that is in an around the Detroit area. I am closing on a property soon and will need to have some repairs done.

Hello all,

I'm seeming to have trouble finding a reasonable tax expert to help me with my taxes this year. I created an LLC in another state towards the end of last year for real estate purposes. I still work my W2 job and also do residential deals here in my local market.

I will gladly take any references for a tax person who can help me with my income taxes this year. All help is appreciated.  Thanks

@Shannon Wright @Kyle J.

Thank you for your reply. Shannon that will be good information to know once I get started. Kyle, I don't have a specific question, I mainly was posting in hopes of getting connected with someone I may be able to partner with. I have the bare bones knowledge and some capital to work with. and would like to possible acquire a tax deed property this year and implement the BRRRR strategy, but I would prefer to do it with some guidance from someone who has experience.

@Ned Carey Thank you for your reply. I think I would prefer to invest in tax deed propertied where the redemption period is quicker and I'm more likely to take control of the property.  

Hello all, 

I was wondering if anyone here has any experience with tax deed investing. It’s a method that I would like to gain some guidance on. I hear mixed reviews but I’m still interested in trying. Would love to connect with someone who has experience. 

@Account Closed

Hey Embert, thanks for the reply. I think I met you before at one of Al’s meet ups. Can you shoot me the address so I can look into it please?

@Joe Bertolino

Thanks Joe. I’ve seen that one on the market as well. My only concern with that asking price if the amount of rent I’d be able to get for the other unit in that area. Would you happen to know?

@Wes Blackwell

Hey Wes!

Thanks for all the great information.  I believe you are right in regards to investing in a fourplex as opposed to a duplex.  I've seen more duplex's on the market though.

My only other concern is that the prices for fourplex's might be higher than my approval amount, which is not a deal breaker, I would just have to be more creative with the financing.  It makes sense that more off market deals will be for single family residences, I agree with you there as well.  

You bring up a good point about the "Fiduciary Duty" of wholesalers.  I am an agent just like you so I definitely understand where you are coming from.  

This market is pretty tough like you said so I'm trying to be patient and active (if that's possible). If you happen to come upon a multifamily listing I'd love to talk to you.