All Forum Posts by: Jessie Lozano

Hey Doug.  I have the contractors and the cash to rehab to Fannie/Freddie mins.  The problem I will have is the property is leased for another 8 months. In this situation, I don't see an advantage of using the "move out for dollars" approach as the current tenants supposedly pay on time (still needs to be vetted).  I guess worst case scenario is my cash is tied up for 8 months.  Yes, I do have less than 10 properties.

Hey BP.  I'm about to go into contract on a duplex in the area.  I'm buying cash (seller needed to get out quickly) and I'm looking to leverage it shortly after we close.  I doubt it will quality for a Fannie/Freddie backed conventional.  Does anyone have any recommendations?  I've cold called a couple banks and will continue to do so, just wanted to see if anyone had some leads.  Feel free to PM if you don't want to throw names out there.  Thanks!

I've thought about it starting an LLC, however it seems like finding financing is more difficult unless you have a positive preforming portfolio. Thanks for the info Jonathan. I think I'm just going to have to pound the pavement at the smaller local banks and see if I can get some help.

Hey Stephen. Since we're buying cash, we'll have 100% equity in the property. Comps in the area are 10-15% higher than my purchase price so I should have instant added equity without having to make any upgrades/repairs.  I guess my main question was finding financing with three people on the title. Thanks for your response!

Hey BP. I've finally found a property to get my feet wet in REI. I've ran all my #'s on this deal and it's meets all the ROI requirements I have made for myself. An agent friend found this deal when he picked up a client that was going through a divorce and needed to unload a duplex fast and for cash. I didn't have the full amount of $ on hand so I solicited by brother and sister to go in with me. We are about to get into contract and I want to start looking at a cash out refi and start the BRRR process.

All three of us would be on the title. Does anyone have experience in something like this? Would we all need to be on a loan application or can I carry the note under my name with their approval (I have the best credit score and a very low DTI ratio)?

Thanks for the info guys.  @Damon Santa Maria, what CPA do you use?  Feel free to PM me if you don't want to throw it out there.

thanks for the info Anthony.

Thanks Kaz. I've listened to 30+ podcasts (ear buds while I mow the grass every week), read several books from REI strategies to property management and several topics in between. I'm getting real close to pulling the trigger, just want to make sure I have a good team in place before I do.

Hey BP Houston. New member from Pearland here. I've been lurking for a while and recently signed up. I'm interested in buy and hold investments and the BRRRR strategy. I've been analyzing properties using the BP tools and also have created my own spreadsheet. I have a few questions for the braintrust:

Any REI groups on the southside of town?

Any recommendations on REI friendly CPAs and attorneys in the Houston area?

I have a REI friendly broker that I'm going to use so I'm good there. I also plan to manage myself to start out. Thanks for you guys info!

Hey BP. Coming to the brain trust to get some critique on a property analysis spreadsheet I'm working on. My intent is to buy and hold with the possibility of a BRRRR. Take a look at the screenshots and tell me what you think. It's still a work in progress. I've inserted values of a hypothetical single family.

here's the overview tab.  I have the below tabs linked to this one to give me a quick look on what kind of deal it could be.

left this blank for ease of demonstration

Let me know what you think.  I'm planning on managing the property myself initially so there's no management cost in the monthly expense tab.  I want to be as prepared as possible before venturing into my first deal.  Thanks in advance for your feedback!