All Forum Posts by: Jonathan Brown

Hey BP community

I am in the process of raising private money, I have been somewhat successful raising 20k between two lenders. The issue I run across is I have people able to lend 10-15K and not the amount that would cover the whole cost of the property. In my area to purchase a property it would require around 30 to 40K. I have used some lenders money to pay for the down payment for two of my properties. I currently have someone looking to invest 15k with me. Does anybody have any advice to best utilize private money when it may not cover the entire cost of the property?

thanks

Jonathan

Hey BP

I am a newer investor with one rental property under my belt. I funded my first deal with a business loan, 5% Interest, 5 year balloon, 12 year am, 20% down. I told myself I was only going to get this loan once and move over to private money. My private money situation is slowly coming together but not fast enough to start making some offers. My question is how risky would it be to acquire multiple loans with these kind of business loan terms? I am able to get the loans with no problem but don't want to cause a problem down the road even though I plan on refinancing down the road.

any help greatly appreciated

thanks

Jonathan Brown

I listed my first section 8 property about a week ago, I have had only 3 people show interest and 2 people contact me. It's not the house (which is newly renovated) because I know my market and what rents. I do not have a sign in the yard trying to avoid "useless calls" but I just used section 8 free listing, did anyone have to pay for upgrades to get more traffic on their listings?

Hello BP world

I am 4 months in on rehabbing my first rental property which is much longer than I expected. A large reason is due to the fact that my first child was born about 5 days after I closed on it so my time was quickly sucked up. A part of my bank loan included some money for rehab which was quickly used up on big ticket items (roof, hvac, drywall repair and paint). I am almost done with the rehab and it looks great,  my question is how do you grow a rental property business and be hands off as much as possible during the rehab?

wow I have never heard of that. I will def look into that thanks @Lucas Machado

hey bp!

I am beginner investor, I just got a house under contract waiting to close on it. I have great ambition to acquire a large rental portfolio. I am very ambitious about the pursuit, always reading, driving for dollars, yellow letter campaigns. I am always trying to work at it but sometimes there are days I just don't know what to do but wait to close on my first house and prepare to rehab it. My question is what are some things that can be done daily to "build your busines" or things that one can turn into habits/ disciplines that are beneficial to new or old investors?

Thanks

Correct

yes join us 120 dexter ave (  in the exit realty office) the third Tuesday of each month starting in January. Let me know if you have any questions hope to see you there

Hey BP community

I just purchased my first rental property (c class neighborhood) and the flooring will have to be replaced. My question is, what have you found to be the best option, wood floors or carpet? I am leaning more towards laminate or vinyl flooring because I feel carpet will not last as long but I also know carpet can be a lot cheaper. Any advice greatly appreciated.

thanks

Jonathan

thanks @Stephanie Medellin and Adrienne Bryson good advice