All Forum Posts by: Jonathan New

Being underwater as a buy/hold investor is irrelevant except you can't sell, refi, or take out a HELOC if you wanted to. Then again, as a BRRRR person, you're a buy/hold investor, so who really cares if you're underwater at some point. I was underwater on my investments in Jacksonville, FL for a decade and had positive cash flow the entire time, so the crash was immaterial to me as a buy/hold guy.

@Joshua S.' guy Dan Grubbs at ABNB has some great products, although I think 6 month seasoning still. If you find someone that doesn't have a seasoning requirement at all, please pass them along. Some national HML also offer cash-out refi products as well. Lima One Capital off the top of my head.

Happy hunting.

I want to get in on this thread for same reasons.  I want to retire to JAX, and I'd love to own as many doors in the area as I can get my hands on.  Thanks for starting this @Simon Collins!

close this coming Friday.  One last hurdle to clear - rehab draw schedule 

I'm a week out from closing with Walnut Street Financing (HML). So far, I have had no complaints at all. Wrapping the closing, points, and interest payments into the loan. That makes it more expensive, but the flexibility is amazing. This will be my first deal with them however, so I can't attest to them from start to finish.

I'd also check out ABNB.  Their rates and terms seem fantastic.

I would look for someone who is active on BP. You want someone who is connected in the REI world. I'm looking for that person in JAX as well. My realtor up here in Norfolk has connected me to professionals in every facet of the business. That's who I am looking for, but in JAX.

I have three hard money lenders lined up (RCN, Lima One, and Walnut, depending on the project). I'm just offering on houses that work and numbers that work to BRRRR. I'm new as new can be, so I've missed out on a few deals being slow to pull the trigger or slow getting to see a property.

Haha.  You know I love the rough Portsmouth rentals!  

I’d like to see photos and arrange a viewing if it’s atill available 

I want to know as well.  

Elon, welcome to the area. I'm getting into some BRRRR projects in the HR area while living in Chesapeake. Feel free to hit me up anytime with problems or deals