All Forum Posts by: Joe Gracyalny

I'm with @Jean H., how can you give an incentive to the tenant? For fun here's another option:

Middle school rules:

Rock paper scissors, best out of 3 wins the payment option.

Disclaimer: Shoot or no shoot is your call.

For a quick eval it looks like you did alright.  You may be able to get in the 5% area from a lender but it look like you did alright.  Was it the first spot you stopped at to get rates?

Des Moines is growing quickly and you may be able to get some appreciation as well.

Always look to add some work/time/$ into a property.  The purchase is where you make the majority of your $.  It looks like you found a value add with the addition of a bedroom.

Only question I have is it sounds like you already purchased the property, but are looking at different lending options?  Is the property fully rented and renovated now?

On a side note it sounds like you put yourself in a good spot financially and are following some good fundamental savings rate principals.  

A recent value add from BP is the state specific forms. You can become a pro member and get them for free or purchase them as you go.

You might find value in starting with these and seeing what works for your specific situation.  A starting launch pad with these and you can edit/or your lawyer can edit them from there.

Another option: Find a local REI meetup and see if anyone is willing to let you use their documents as well. Offering some free Demo work or other labor to learn and provide value is also a good place to start to help gain these docs as well as a networking opportunity.

Best of luck and crush it Matt!

@Caleb Jordan

Thanks for the quick reply.  Great post and valuable points.  Proof of funds and quick close rates are definitely high on the list here. 

We are willing to provide Comps/ARV/timelines that will help us get what we need.

I love your niche idea on interest not paid until actual use of rehab funds.  Never heard of those before.  I'll be asking around.

Thanks again sir!

@Scott Schultz We have done some of that and will continue to do so.  From the BP podcasts it seems like many investors have done very will with smaller local banks and credit unions.  Appreciate the quick reply and will keep looking!  Thanks for the input

@Karen Margrave thank you for the quick response!

I'll follow up on your post with Scotsmanguide.  Looking forward to it.  Thanks again FIRE away!

Hey BP Community,

I am on my first couple deals and am looking into additional Hard Money/Private Lending Options.

Networking and building relationships is obviously a key help in this area.  In the meantime I am just looking for some general advice or reviews of larger companies or individuals that do investor loans in Wisconsin.

I want to get something in the 9-10% area preferably with no points upfront, or limited.

Feel free to weigh in.  Any and all are appreciated.

Thanks Team,

Joe

 I appreciate the invite out to Cedar Falls for a meet up and am glad to hear there is something already going on monthly in Dubuque!

 A big thanks for the heads up and good vibes. I am glad you have had a positive experience and look to learn a lot here as well!

- Joe

Hello BP Community! My name is Joe Gracyalny from Dubuque IA. I was introduced to BP by my brother and have been loving my experience so far. I have listened t to over half the podcasts and figured I would sign up to start networking. I don't have any background in Real Estate but my interest are in househacking a multifamily property, or live and flip a single family home. I am a full time teacher and do insurance on the side but would love to one day replace them with my real estate endeavors. I am interested in meet ups in the eastern area, and also in the Madison WI, or Rockford IL as well as others within driving distance. Excited for this networking opportunity and only wish I had found this site a few years ago! Best, Joe