All Forum Posts by: Jonathan Girard

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Good afternoon everyone... As always, your input would be much appreciated. As it is often said on the BP Podcast, buying a rental property is like buying a little business... In this particular deal analysis report, you'll find a mix use commercial/multi-family property. I went with the area median rents on the three 2bd-1ba's and assumed $1800/mo from each the four business spaces (two are below the 3 apartments and the other 2 are in the other stand alone building).  

The objective of this purchase would be to make a little cash flow from multiple sources, all under one roof (well, two roofs to be exact). If allowed, I would do my own property maintenance for the first few years as I plan to move closer to this location and while I make a name for myself and my business.

Thanks in advance for your time.  

Thank you everybody for taking the time to write in and offering some really useful feedback, I really appreciated it.

Good evening...

Before starting my online search or searching through all my RE books for the answer to this question, I wanted to hear what your opinions might be...

I'm a semi-educated and skilled newbie with zero deals under my belt, I'm feeling ready to put what I've learned on Bigger Pockets to work but, funding my own deals is still something that I cannot do on my own. Lack of funds and the fact that I'm self-employed as not made it easy to get conventional loans and hard money is expensive. 

As instructed, I've made close friends and family aware of my RE endeavors and they're all very supportive and some have offered to lend, when I'm ready. My question is, what is the proper approach/verbiage so to find out how much available capital they're willing to lend so that I can figure out how to properly use their funds i.e. for help with a down payment, a rehab loan, closing costs or a partnership?

Thanks in advance. - JG. 

That's right! Thanks Owen, rookie mistake :)

Good afternoon,

I found a property with potential, the interior needs painting and carpeting, the exterior will need a siding, possibly a new roof and some curb appeal upgrades.

According to Rentometer, $1,600 for rent is average. The one number that I really need your help on is the $77K at closing, how is that possible? I would put $33K down, closing costs at $4K, what am I missing?

Thanks in advance for your time and knowledge, I really appreciate it.

- JG.

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Hi Christy, I'm thinking of moving forward with Fund and Grow in the up coming week, how are things progressing since your last post on BP? You were at $33K around October of 2019, were you able to get more cards and increase the limits on the other business credit cards from your first round? 

I would think that Fund and Grow should know which credit card companies are compatible with "Plastiq" by now, since they've been in business for 10+ years... What are your thoughts?

Also, did you have Fund and Grow create your entity?

Thanks in advance.

I think that you're right, Darius... Banks are tightening up, as we speak.

Good morning... Thank you for responding, it really does help to think this over with pros...

Jaysen Medhurst, I have an appointment to meet with the realtor this Friday for "my" inpection, I've been trying to get in contact with a foundation repair company in the Big Bear City, CA area but, voicemails are full and no responses via email. Woke up this morning thinking, would a bank even give me a loan on a project like this? What are your thoughts?

Darius Ogloza, you're probably right that the amount for the roof that indicated is low... The truth is, I worked for a roofing contractor in Massachussetts for 10 years so, I'm going to do it myself and save a bunch on labor costs. You're right about the electrical estimate, I should definitely rewire the whole house while the studs are exposed. What are your thoughts on whether a bank would lend on a project like this?

Thanks in advance.

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Good morning Sienna... Are you asking if mobile homes are being rented out or/and if there are any available in the area?