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All Forum Posts by: Jason Gott

Jason Gott has started 10 posts and replied 60 times.

@Jonathan Taylor Smith

Hey Johnathan, these are to be refi'd using an entity (LLC). I haven't looked if people do private 30 year loans. I've been at this for just at a year and haven't done into those waters yet. Thanks for the reply.

Gott

I'm looking to refinance a few properties and I'm not sure how to put this data into my BRRRR calculator. Can anyone give me a range of what to expect as far as interest rates? Also how long are the terms? I've only used local banks as of now but I'm paying a 6.5% at 15yrs. Can I do better? I have excellent credit.

I've looked at doing the guide to lenders things here on BP, but I've done the lending tree things and was bombarded with calls and emails.  I'd like to try to avoid that right now.  

Any help would be greatly appreciated.  Thank you

Post: Indianapolis Investor Social - 2/2 in Broad Ripple

Jason GottPosted
  • Danville, IN
  • Posts 63
  • Votes 17
Originally posted by @Jaron Walling:

I looking forward to meeting new people! HopCat is a personal favorite with an amazing beer selection and good food. 

Thank you @Andrew Richmond for getting this meet-up started. 

 You had me at beer.

Post: Starting Out - Spouse NOT on board. What do I do? HELP!

Jason GottPosted
  • Danville, IN
  • Posts 63
  • Votes 17

One more thing.  

Make it a family thing!  Everyone should be involved.  Your kids will learn valuable lessons, and you'll always have new experiences with your wife because every house is different.

Post: Starting Out - Spouse NOT on board. What do I do? HELP!

Jason GottPosted
  • Danville, IN
  • Posts 63
  • Votes 17

Your wife and your family is, or at least should be your main concern, period!  When I first started out my wife was also "Skeptical", but she was supportive and she knew I couldn't reach my goals without her on board.  So I did whatever I had to, to get her somewhat comfortable.  

1. I urged her if she had any questions at all to ask.

2. I walked her through several potential deals before I bought my first one.

3. She gained comfort talking to other investors/mentors.

4. She watched a couple webinars here on biggerpockets.

5. Our first investment was a small, cheap house with minimal work needed.

All of these things helped her gain confidence in real estate and also helped us both to learn, and ask questions the other didn't think of.  It's funny because now I come home and say, "I bought two houses today!".  She's thrilled!  One because she knows I'm living my dream, and two, because she gets to pick paint, carpets, area rugs, and whatever to make it a home for someone.

But never lose focus on the family, at the end of your REI game they will still be there. A house is just a house without a family. Best of Luck!

Post: FEMA Disaster, Need a place to stay

Jason GottPosted
  • Danville, IN
  • Posts 63
  • Votes 17

BP Family,

Not Sure if this is where I need to post this but my family needs some help right now. The recent hurricane has destroyed my sister's home near Wilmington (Surf City area), FEMA just declared it a loss. I'm wondering if anyone has anything available for rent around this area for a few months until they can get back in their home? They've been searching but everywhere is booked up. Any help or advice would be greatly appreciated. Thanks

Originally posted by @Jefferson Smith:

@Jason Skelton and I've been investing in Indy, and we've had good luck with IU Credit Union for a loan  under 100k. (As well as another larger one.)

 Hey Jefferson, what kind of terms does IU Credit union currently have?  I'm looking to expand my financial institutions.  Is there a contact recommendation?

@Justin Fraser Congratulations Man!  You story is inspiring and helps calm a few nerves as I am in the process of trying to purchase my first apartment deal.  Keep me posted on how things play out so I may learn more.

Post: What's the best (or Worst) repairs you've seen tenants make?

Jason GottPosted
  • Danville, IN
  • Posts 63
  • Votes 17
Originally posted by @Dave Van Horn:

Yeesh! That's rough.

Well, I once had a tenant put in a parquet floor in their foyer without so much as asking me (or even telling me) and they sent me a HUGE bill right after. I was like "I don't remember asking you to do that?" And this wasn't exactly a nice rental in a nice neighborhood either, so not sure that type of floor was quite justified. 

On the flip side of that, I actually I had a guy in a Rent-To-Own of mine put in brand new kitchen and he never ended up buying the property. He just left me with a nice kitchen! Guess it evens out!

So I take it you're not a fan of the parquet? Haha.

Awesome to hear about the new kitchen!  BTW I really enjoyed your book on notes Dave!

Post: What's the best (or Worst) repairs you've seen tenants make?

Jason GottPosted
  • Danville, IN
  • Posts 63
  • Votes 17

So I take it you're not a fan of the parquet?  Haha. 

Awesome to hear about the new kitchen!