All Forum Posts by: Joseph Borges

Is there a Bigger Pockets app for the IPhone? I can’t seem to find it if there is but think it would be nice if they had one.

Hello @Ned J. I live in Stephenville, I'm a full time investor here. I use to live in Escalon California. If there is anything I can do help you please reach out. What street did you buy your SFH on?

There was a BP podcast i listened to a while back about a guy that was doing radio ads, I'm having a hard time finding which one it was. IS there a place on the website that would be easier than scrolling through the episodes on my phone? Thanks in advance. 

Thank you Ned, my thought process my deal flow is down from 6-8 months ago and if I refi cash out and pay 7% on a loan and that money I received is just sitting in the bank lounger because I'm more selective on my deals I'm doing right now so I'm like setup LoC on my properties going forward so I have access to cash if needed but not paying 7% APR when I don't have no place for the cash to bring a larger return. This is all new to me, I've always had to be OPM and was always for it but now I have built some cash up I'm starting to think different but not sure if I'm thinking correctly.

Joseph

I’m working on one property right now that I have used all my own funds on that I planned on BRRRRing. It’s almost done now and I’m leaning toward just getting a Loc on the property instead of a cash out finance loan with the way rates are going and if they drop back into the fours refi-ng. What are your thoughts? Thanks in advance.

Joseph

Hello BP,

I've flipped about 20 houses in the past 24 months, I'm a big picture person and not organized like I would like to be and I usually have 2 or 3 houses I'm working on at once. I would like some help/suggestions on how I can organize my workflow on my flips and improve my time from purchase to sale. Is there software or program that will help me with this. My end goal is to improve efficiency and scale to do 24-36 flips per year. Thanks in advance for all suggestions. 

Joseph 

@Zach Quick

That was my thought process going into the meeting. They have owned it for 40 years and have a limited partnership. (They own 60%) they took a $1m loan out 2 year ago to do another project. They buy/sell notes on real estate and do used car loans still. They aren't against it owner finance but want a substantial amount of money down they think. They are thinking about different options they are open to do aswell.

This is one option I thought of:

Get bank financing in place and have the current owner finance the down payment.

I have never done a deal like this before so im wondering if they the owners were open to that if it would be feasible to get done at closing.

I think I would need $50-$75k to do updating and getting everything up to par.

@Sam Shueh

I did have that in my notes to "hire" them as a consultant for 6 months after the closing.

@Zach Quick

Yes, we had a two plus hour meeting and I strongly feel like they know I'm serious about this project and a possible buyer. I also feel like they want to assist me any way they can to purchase this property if I decide I want to follow through and purchase this deal.

They look secure to me. Should I check for police reports filed about break ins on the facility?