All Forum Posts by: Kevin Christensen

Hey BP!

I got my first investment property in March of this year. Since then I have been grinding my tail off to scale. I just closed on my 11th and 12th properties on back to back days. I have 7 rentals, 1 AirBnb and 4 in progress at the moment. I've acquired them with Sub2, Conventional Loans and Hard Money.

My question is, should I refinance them into one large portfolio loan around 4% interest? Or refinance them individually?

I have spent around $170k of my own money so far. I have just over $2.3mm in real estate with just above $900k in equity. They are all single family homes. This cash-out is really going to spring board my plans. My goal was 8 properties by Jan. 2020. I’m at 12. I’d like to hit 30 by the end of 2020. What is the best strategy to do these refi’s?

Thanks for all of your advice. My market is Delaware.

@Kerry Baird 4 beds, all queens. 1900 sqft

@Samantha Rodriguez I bill a $50 cleaning fee for full house rentals and a $15 per room fee if they just rent a bedroom.  My cleaner charges me the same amount, so I don't make anything but nothing comes out of pocket either.

Normally I would disagree with everyone here, but if you can make over 70k profit and be done with it instantly, take the money.  Move on to the next deal.  Full rehabs can be a nightmare.

Debbie, I'm not sure I understand your question.  Are you asking how to make money in general or how to start a business?  How much money you have left over is going to be impacted by your spending and your budget.  Have you taken control of those things to determine where your money is going?

I just opened my first AirBNB in a house that I took over Sub2 on 10/19. AirBNB says I can make up to $1506 per month in that area. My current November earnings are already over $2100. I am seriously considering doing this with more of properties as I renovate them. I have a cleaner that handles everything and automated locks, pricing and messaging. It's almost zero work for me at this point. I can't wait to scale it.

Hey guys.  I started doing real estate in March 2019.  I just purchased my 12th property.  I am just starting to look into options for refinancing them to get my cash back out.  Should I consider doing a portfolio loan (4% or less, minimum 5 properties, 500k loan and 650 credit score), or should I try to refi them individually?  What is the benefit to each method?  I have quite a bit of equity across my properties and I want to purchase a business so I need to free up some cash.  I meet all of the criteria for the portfolio loan no problem, but I was unsure about tying all of them together.  Thanks!

BP, 

I am new to this.  I see a property coming up for Sheriff's sale that I think i can get well below market.  I need to put 10% down if I win the bid.  If I do this, can I then assign it to a cash buyer, similar to a wholesale assignment?  I'm not sure what the rules of Sheriff sales are.  Thanks!

 Frank, there is no luck involved there.  You made a smart play and put yourself in position to succeed.  Excellent information man.  Thanks.

Can I make an offer on an REO, have it accepted, and then assign it to a buyer for a higher price? Essentially a foreclosure wholesale? Thanks!