All Forum Posts by: Jordan Ray

Hello , 

I have a rental property in memphis and now planning to get second one.

I need to understand if I cash-out-refi my first property and put the cash downpayment on second one , Should I consider that as 0% downpayment Or 20% downpayment to calculate if the numbers make sense.

Also suggest if I should do it at this point or wait some more time. Here are the numbers:

Property 1:

Purchase Price - 130k 

Current Zillow Estimate - 166k

Loan Remaining - 100K

Current Interest Rate - 5%

If Refi - 6.38%

Obviously at higher interest rate my EMI is gonna increase , but at same time I am adding an additional asset which would cashflow as well. OR make the downpayment from out of pocket and refi later when interest rates go down ?

I am looking at doing my first remote deal. I am considering BRRR as well as just purchasing a turn key property that cash flows. Any recommendations on how to proceed?

If I go with the BRRR strategy would love to hear some tips on how to successfully manage the rehab remotely.

 hey @Jordan Ray im looking at  MF between the airport and the UN, any help?

Good Morning, I have 5 single Family Houses in Grenada, MS. 1 1/2 hours drive south of Memphis, TN. 30 minutes from Oxford, MS. I am looking to sell all properties individually or together or in between. All well under $200,000 and good cash flow. Partner and I are splitting up and feel it's better this way. Thanks

I am currently liquidating my portfolio, which formerly held my rentals. I was able to package three of them in one deal, which ended up breaking even/not profitable (A little bummed on this one since I think the buyer (an investor) won the better side of the deal in terms of gaining equity on the houses). I have four more that I need to liquidate with a goal of having them all sold by the end of this year. They have been on the market for about three months now and I am working with my realtor to get them sold sooner.

The remaining properties have loans on them with one being free and clear and vacant, two being vacant with mortgages, and one is currently rented with a monthly mortgage payment due. I am trying to see if it makes financial and/or market sense to rehab them and possibly rent them out or just leave them as-is. I am leaning towards as-is due to the lack of funds in my current situation. Once sold, my goal is to have these mortgages paid off from the BRRRR method that I did and move on to different investing opportunities. At first, I wanted to just save it to build up enough investment funds to move to my next deal, but open to suggestions.

Any advice on steps to take to move in the right direction if you were in my position is greatly appreciated. Would like to hear from any investors that have been in this type of situation.

I have vacant properties that have been a struggle to upkeep while they are on the market either to be rented out or sold, whichever comes first. One property had its water heater stolen not once but twice as well as the furnace in the second attempt. Another property continually has squatters even with boards up and bars in front of the windows and doors. Police reports have been made, but I fear that it has been a consistent battle to deal with, especially with investing out-of-state. Property management has been aware of the situation but can only do so much even with constantly redoing what is being removed and repaired. I know it has been costly to replace/repair the damage done especially with the property being vacant and a monthly mortgage payment due as well without any rental income coming in.

Any advice is greatly appreciated. Would love to hear from investors that have been in this type of situation and what has been successful for you in terms of keeping them out and being able to still sell the property and/or rent it out.

Hey Jon - Reach out to @Jordan Ray ! He is a great investor friendly realtor in the area

My goal is to acquire 167 rental properties in 5 years generating $500/month on average. 

Im starting my first year and am planning to buy 10 properties in 1 year. I’ll have $50K saved and $8,000 in credit lines. 

My question is how do I get the money for 10 down payments? I’ll have enough capital to cover 2 down payments 1: first property Under 5% because I’m house hacking. 2: And 20% for the remaining 8 properties. Let’s assume 40K down payment * 8 properties = $320,000. Is it smart to finance the down payment on top of the property? How do I get the financing? Is there another way I could accomplish this? 

Hey BP friends

pretty new here and looking for good BRRRR markets up to 150k all in.

would love to hear your thoughts!

Thanks in advance,

omer

Hello BP,

I hope this message finds you well! My name is Noe (No-ee) and I’m a real estate investor currently based in Southern California. I specialize in buy-and-hold and value-add investment strategies, with a focus on multi-family properties. I’m now looking to expand my portfolio into Tennessee, Massachusetts, Maryland and Minnesota markets.

I’m eager to connect with realtors and lenders who have experience with multi-family properties (leaning to commercial) and understand the dynamics of value-add opportunities in other markets. If you or someone you know is active in this space, I’d love to connect and discuss how we might collaborate on upcoming opportunities.

Feel free to reach out directly via DM and I look forward to learning more about the local market and building strong partnerships!