All Forum Posts by: Joseph Dunphy

One thing that is great about cozy.co is their customer service. If you call and talk to them about an issue or glitch with the site, they are quick to provide a fix or solution. Plus, its free! We have found that unless we are managing over 50 units, it is not worth it to use paid software. 

Hey Shaunda!

I assume this is not available anymore. I am an buy and hold investor looking for a primary residence in DC or NOVA. We are looking to live-in while we rehab. Do you have anything in your inventory that could work. I am able to close within 30 days. Thanks.

Clarksville, TN- Huge opportunity for a builder looking to partner with experienced investors. 

We purchased 24 acres zoned R3 (3 family residential) and are looking to subdivide and start building/selling homes. The property is located close to I-24 and Fort Campbell, KY. 

If you are a builder and interested in partnering on this incredible deal, please reach out over BP for more details. 

Property Map is located here. 

Parcel Summary is locater here.

Hello All,

Which free property management software do you use to manage your rental properties and grow your business? 

I have been using cozy.co for two years now. I think the system functions great, however, our portfolio has grown to 15 units and it is becoming difficult to stay organized with cozy's basic system.

I am interested in hearing the communities thoughts and recommendations!! 

-Joe

Chattahoochee Property Management

Boom! Found a bank that'll finance for than four. Thanks everyone!

Hello,

Bottom Line: I am under contract on a SFH in Columbus, Ga and I need to find financing or I am going to lose my earnest money.

This week I ran into a bump in the road and am looking for advice. I am under contract on a rental property in Columbus, Georgia. The bank that I usually finance with dragged its feet on approval through the due diligence period. The Thanksgiving Holiday and some bad communication played into it.  Ultimately, I was approved for the loan but the bank does not have any room left in their portfolio for single family homes (only multi-unit). I already have 4x conventional mortgages and that is making it more difficult to find another conventional loan.

I found a portfolio lender that'll do 7/1 ARM at 8% interest, financed at a 30yr ammortization. Also a $5k flat rate funding fee. Is this my only option? Thanks for the help. The financials for the purchase are below.

-Joe

Todd, Thanks for the reply. Recently found your podcast! I like what you are doing. 

What are some successful ways you structured returns for your investors? I have seen many different methods, but what is the standard?

Aaron,

Thanks for the reply and good information! Grandmother is still alive and in good health, she just wanted to give a gift to her grandsons.

I can see how using unimproved land as collateral would be hard to loan against. I am going to seek out potential lenders and hopefully get some answers. 

Thanks, 

Joe

Hello Everyone,

This is my first forum post, but I have been reading them for about a year and have listened to almost every BP podcast episode; trying to soak up knowledge. I am in the Army and started spending my free time learning about real estate. I have purchased 3 multi-family properties since June 2016, and am on my way to closing on a 4th.

My question: I recently inherited 5 acres of land in Tennessee from my grandmother. We have plans to renovate the historic barn on the property to use as a wedding venue. I was wondering if it was possible to take a loan out on the land, use the loan money to buy an income producing rental property, and reinvest the income into barn renovation.

How farfetched is the idea? What kind of financing would you recommend? Any help at all is greatly appreciated. This is a great community, and I am happy to have come across BP.