All Forum Posts by: Jimmy Lieu

What's the best way to finance a rehab? I am planning a house hacking strategy and I am specifically looking for properties that I can add value to (by adding a bedroom, bathroom, etc). The thing is that I do not want to use my own capital unless I really have to (capital is currently tied up in stocks, crypto, etc).

If I don't want to use my own cash to finance a rehab, what would be the best way of doing so? I've talked to a few people and they stated that I can get a traditional rehab loan (as an owner occupy) for around 5-10% interest (based on risk). In addition, I've heard of people using credit cards where there's no interest if it's paid back in a year or something like that.

Here's my thought process. Let's say I close a property for 100k and it needs 20k worth of repairs done. Can't I just take a bank loan for 20k with like 10% interest or something pretty easily? And after I finish the rehab, let's say the property is worth 150k. Can't I just refinance the property, pay off my debt of 20k plus interest, and have around 30k cash on hand?

Does that work? Is this a good way of financing a rehab? Or are there better ways that I have not thought of?

I am an OOS investor from Portland Oregon. I am looking for an investor friendly property manager in the Columbus Ohio area. If the property manager has experience working with OOS investors, that would be definitely preferred. I would greatly appreciate any referrals.

Thank you in advance.

I'm an out of state investor from Portland, OR looking to invest in the Columbus Ohio area. I am looking for an investor friendly realtor and lender. Any referrals would be absolutely amazing. Also, I would love to connect with other investors in this area.

Thanks so much.

Hi,

I am an out of state investor from Portland, Oregon. I'm looking to work with an investor-friendly property manager particularly one who has a lot of experience working with other out of state investors. Would love any recommendations you may have. 

Thanks so much in advance.

Still looking for answer!

Hi all,

I am a new investor from Portland, Oregon, and I am looking to purchase a multi-family home out-of-state and live in one of the units. I started looking into Chicago IL because multi-families are quite popular there and its a pretty hot real estate market.

However, this would be my first property. Would Chicago be a good place to start investing in multi-family homes? How hard would it be to get started? And would it be more difficult than if I chose another state?

Thanks in advance.

 Thanks so much - will be contacting her :)

Hi all, I am a new OOS investor from Portland, Oregon. Looking to buy and hold rental properties in Florida. I am looking for a mortgage broker who can find me the best possible loan rates.

If you're an investor like me, if you have any recommendations, that would honestly be so awesome!

If the brokers have experience working with OOS investors, that would even better.

 Looking for a conventional loan for purchasing a rental. 

Hi all! My name is Jimmy, and I currently run a 6-figure social media agency. I recently got started with real estate a few months ago and plan on closing a property within 6-12 months. I'm looking into investing out of state in markets like Orlando FL, Chicago IL, or Atlanta GA. I would love to connect with other OOS investors from Oregon. Would love to connect with anyone who has done OOS investing before or is just starting out!

A huge thanks in advance.