All Forum Posts by: Jordan Decuir

Hi Shequila Hamilton , I think the determining factors would also include the terms of the seller finance. What is the interest rate? What is the payback period in terms of years or months? Is it fully amortized or is there a balloon payment at some future point?

Hi Nancy Cortez , welcome aboard. BP podcasts and the BP community are very helpful in many ways. If you like to listen to shorter podcasts at times, Joe Fairless’ Best Ever RE Investing is a great podcast as well. The BRRR strategy is an excellent strategy if you can get the ducks in a row and execute. I’ve never done it but the concept is awesome. I bet if you step to the bat and take some swings, after two or three attempts you can really get some good experience under your belt and really start to crush it. Best of luck with everything! If you ever have any questions feel free to PM me. Jordan

Like Edward B. said, your best bet is to call around to at least two, preferably three or more lenders and see what they have to say. From what I can tell, their biggest concern will probably be “how are you going to service the debt, i.e. make the ongoing payments on a monthly basis? with no income”. Then again, there may be some type of loan program they can put you in. Are you planning to sell after you do the rehab?

Thanks for your work on this Mindy Jensen It seems that the iOS mobile app is now pulling in the correct local forum for me as well, Houston. Thanks again!

Interesting concept Andrew Bergman , I would love to hear more about this. From my understanding, the FEMA maps are widely considered to be outdated and therefore not very accurate in some/many cases. Are you talking about having a surveyor research and somehow prove that the FEMA maps are wrong in specific instances?

Hi Celina Lane , thanks for giving me an extra smile this morning (your Barbie doll development experience made me smile). Welcome aboard. BP has been, and continues to be, a big help for many of us as you are finding out. Have you been to any local Meetups yet?

Welcome William Ashley ! I would first say that unless you will be tapping into your local MLS quite frequently and doing a significant amount of data analysis, you may be able to get what you need by leveraging an agent to run comps with you, I’m sure you could find several agents in your area that are willing to assist you with this. There is something to be said for being able to login yourself and negotiate and run your own deals yourself though, not having to rely on an agent. That is a matter of personal preference for you, however. Also, simply having an active license will probably cost you around $1,000 or more per year if you wish to have access to your local MLS, so that is another consideration for you to think about. If you do decide to get a license, there are several online courses from what I understand, Kaplan is one that I know of personally. I believe that Champions School of RE is one that offers in-person courses and maybe even online as well. Best of luck to you in your venture. If you have any questions feel free to PM me, I will assist where I can. Jordan

Ori Skloot I am curious to know which Property Manager you had this experience with. Can you Direct Message me and let me know?

I think that this points to an issue that BP has with local forums from my perspective as well. As an example, I am in Houston, TX (Katy, to be exact), and upon selecting local forums on my mobile app, Houston does not appear. Dallas, San Antonio, Shreveport, Austin and other “nearby” cities’ local forums pop up, but neither Houston nor Katy is shown as an available local forum.

I recently had a property manager take over an SFR that i was self managing, there was no additional fee to assume the tenant that I already had in place. The property mgr just started collecting their fee upon rent collected. Also, per my property mgmt contract with this new manager, if no rent is collected for a given month then no property management fee is collected for that month either. Pretty much all of this will be negotiable and can differ from property manager to property manager I assume