All Forum Posts by: Jessica Roland

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $33,000

House we bought to fix up and rent. After difficulties refinancing, we decided to finish fixing it up when the renters moved out and sell.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $10,000
Cash invested: $17,000

This was a BRRR property that we got for $10,000 cash as one of the basement walls was falling in and there was a ton of mold in the bathroom and back entryway. After purchasing, we noticed the neighbor getting their basement fixed and talked to the worker, he quoted a great price to reblock the wall and did a terrific job. Got the house rented, refinanced, and used the money to buy another rental and finish rehab on another house.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $57,700
Cash invested: $11,800

Bought this SFR with proceeds from a BRRR just one week before the birth of our 5th child. I answered calls from potential renters while in the hospital! It has cash flowed nicely with barely any repairs except for a few plumbing calls. Turns out someone had put a grounding stake right through the sewer line!

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $50,000
Cash invested: $20,000
Sale price: $96,000

Beautiful Victorian home with many original features. It was a fun house to work on.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $45,000
Cash invested: $3,000

This house we purchased on a contract from the owner with 0% down, 3% interest, over 25 years. It's a beautiful little house with a good floor plan and we would like to finish the attic into a third bedroom when the current renters move out. Wish we could find more like this!

I just looked up Amazon and found this one

https://www.amazon.com/Streamlabs-Smart-Water-Moni....

 We are just starting to look into them ourselves.

Our appraisals have been 400-600. One was even more. The bank said it was from doing rental comps and being in a rural area.  We hired the same appraisal privately once and were only charged 250.  Services that you 'can't shop for' are a rip off. Fork the money over, and if the property is worth it, 2-300 won't make a difference in the long run. :) I just hate walking away from a deal after paying for an appraisal.

Thanks! I will look him up.

@Ashly B. I'm still 'in process' with two banks. One is Ridge Lending Group based out of Oregon. I think they were a contact through Geneva Solutions (something like that). The other is Mark Steger at Iowa Mortgage Solutions. I am wondering if he might work out better for us.  I'd love to hear how the refinance works for you as we would like to buy a small multifamily next.

I asked one of the lenders if getting that other house rented would make a difference and they said no. Whenever I've calculated the ratio, it looks fine, but the banks get a different one. :) I think what we need is an investment banker who looks at the property itself. That's what we are trying to find now. The local bankers don't know anything about investments and we've had to basically tell them what to do during previous purchases. And we're new at this and would love to find a bank that could tell us what to do instead of the other way around. :)