All Forum Posts by: Keith C.

@Nico Burgess aren’t most auctions on hold with all the forebeance programs in place ? My municipality shows all Scheduled auction postings as canceled.

What sites or states still allowing forced auctions ?

@Lola Omishore we are doing NON QM loans .

Drop me a message and I’ll give you current programs available.

@Nick Liddell hi Nick sounds like a good plan.

I’m aware of a quadplex ocean front with pool and jacuzzi , 2 car garage and 8 parking spots

Primary unit has 4 beds 3 baths , 2nd unit is 2 bedroom 2 bath and the other 2 single room efficiency. You can have long term remnants or run as short term vacation rental since it comes with appropriate licensing for transient rentals .

That said it’s Central Florida location about an hour out of Orlando. PM me if interested

@Simon Obas that’s like driving with your eyes closed .

@Ron T.

Considering any and all methods I want to bring up a new hurdle thanks to Covid19 for all BRRR investors.

All lenders today have drastically reduced Cash Out ReFi LTV ratio from approx 80% ( sometimes a little higher) to avg around 55% -60% LTVs on Investment Properties.

Which will essentially take a $100k purchase - $30k rehab with an ARV of $180k formerly an LTV of 80% allow for $144k cash out — Today on an investment property Loan - lenders will only lend up to $110k or less.

Only way around that is

1) make sure new projects allow for much higher ARV - ( those will be difficult if not impossible to find the arv would have to be close to $280k to get all your money out )

2) setup a private money loan from the start - that makes the deal more expensive as hard money loans with associated closing costs will add another 12% -15% to your total costs.

3) Higher LTVs will come back eventually to make BRRR make sense again , but for now

“ be very selective and calculated on any new Purchase “

Once you buy it you own it , and it’s your responsibility how to get your money back out

Hi

I am on BP for about 2 years now and was wondering how many people successful found - bought , sold or partners on deals or other services through the BP network .

What has been your golden spoon to land that connection.

I had just a few bites but nothing landed yet

Happy Hunting

@Jordan Rhoads Good Luck morning on your new journey in life , I have some properties 30 minutes outside Orlando for 50k . rehab is needed for about 25/30k - all in 75/80k and rents are $1100 all day .

ARV would be 115k

You would be able to BRRR once leases are signed

Message me for more info if you like the Central Florida Markets

@Avery Carl if you wait on everything for approval you could be waiting a while ,, just remember the classic saying “ it’s easier to ask for forgiveness than permission “

@Zach Quick agreed no mention of storage in article

Logically though if people stopped paying rent, car payments and mortgages storage probably didn’t make the cut either

@Austin Scott as long as you set one of your search criteria to “ warm sunny weather “ you are one step ahead of 80% of the country .

Of course there are other factors but As my Great Grandad would say “ Go South My Son , Go South “

After pandemic this holds even more common sense