All Forum Posts by: Jordan Epping

Forgive me if I am missing something simple here. But thinking about the BRRRR process. I am no longer eligible for traditional bank financing, so I am working on securing hard money for my next property. If my goal is to refinance the property once it is rented and rehabbed, but I cant get a bank loan to pay off the hard money lender, what do people normally do? Is finding a bank to loan me, the only option?

Hey BP members. I am actively looking for wholesalers in the Kenosha, Wisconsin area and western Kenosha county. I would love to get in contact with you and see if I am a good fit for your buyer list.

Thanks!

I am interested to get some insight on Subject -To deals, and also assuming loans from sellers. I feel like this could be a great strategy for investors theses days who are able to find willing sellers with low interest rates that don't exist anymore. What kinds of things should investors be aware of, and what other benefits for buyer/seller are part of these kind of transactions? Also, any insight on how willing banks are to let people assume current mortgages?

Hi Chris! I should have mentioned I’ll be refinancing a previous rental to pay the remaining. That should be alright, correct?

Hi Members,

I am looking for some advice/strategy on how I can pull a certain deal off. I have never done a subject to transaction but want to get some info form experienced investors so I can present to the seller properly. Here are the property details:

House is worth roughly $320,000 and I could purchase it for $310,000. It needs absolutely nothing and is move in ready, immaculate condition. Its my brothers house so that helps. He owes roughly $140,000 and has a loan of 4.5%. So I would need to get a loan for the remainder $170,000 which would probably be about 8%. Rent would be $2,000 per month, and I plan to hold long term, and also need the tax savings. Profiting per month does not matter to me financially, this is a long term play. What would the deal parameters look like for me as well as my brother. I understand I might not know what I need to know, so some advice would be much appreciated!

Not the best purchase, but I cant find much else out there, and like I said, it is one of the cleanest houses Ive ever been to, and would instantly be the most coveted rental in my area.

I am about to start shopping for home owner's insurance for my rental property. What type of things should I consider having a part of my policy? And what would you recommend about the amount of coverage I have? The house is probably worth about $260,000 if I were to put it on the market, so should I just insure it for that price? Looking for any type of tips/feedback. Thanks!

I listed my house for rent yesterday, and within a couple hours, I showed/screened and accepted a tenant. She is scheduled to move in on August 1st. Ive had about 50 people reach out, so I am a little hesitant to just take her word for it that she will move in, so when should I have her sign the lease?  Do we sign the lease soon and just make it active as of August 1, or do I wait the 2 weeks and hope she doesnt change her mind?  I am located in Wisconsin, if that matters at all.  Looking for any advice and recommendations from the community!

Thanks

Alan,  

I too am looking for portfolio lenders in Kenosha.  Let me know if you have any luck and I will do the same!

Thanks everybody for all of your responses.  I appreciate all of the input, advice and help!

Catherine,

Thanks for responding!  In Wisconsin I only need to give 12 hours notice before showing up.  I should probably find out if my notification needs to be approved by the tenant though.  In Oregon, if you were to hire a landscape company to do the work, would you have to get permission every time for that?  Or would the lease be sufficient enough for them to show up, like every Wednesday or something?