All Forum Posts by: Keyur Patel

Hello all,

My business partner and I are finalizing on a property management company for one of our property that was intended for a flip when we purchased but we have decided to rent it out for the time being. Is it common for property management company to include “owner cannot have any contact with tenant during the lease term” as per of standard contract language? We want to explore rent to own option with tenants so we figured we would be communicating with them.

I am trying to complete my first BRRRR and currently working on doing a cash out refi step of that process. I have spoke to over 30 banks (small banks, large banks, credit unions) but having hard time securing loan with rates below 4%. My credit score is excellent and I bought the property all cash and completed all the renovations with cash of my own. Most banks are requiring the 6 month holding period which is coming up soon. I was hoping to take advantage of the low mortgage rates currently being offered but having hard time finding banks offer below 5%. Is it worth reaching out to non-traditional lenders for refinance loans? I don't have any experience with those types of lenders so not sure what to expect. Any feedback is appreciated.

@Mike Chevalier Thank you for your input. I will def. factor those in.

Hello BP community,

I am looking for my first rental property and my agent keeps talking about Condos/Townhomes that are looking like deals based on purchase price and minimal rehabs they may require.

Many investors I know are shying away from these types of properties, but I am trying to weigh pros vs cons.

Anyone with good or bad experience please do share. Looking for constructive feedback.

Thanks

@Bill Plymouth I appreciate your input. Will do.

@Dennis M. Thanks for the information. I have been working with a few wholesalers In my area and have started looking on Facebook.

I don’t know if I’m being too picky or if the deals are just too scarce in my area or maybe I don’t know where to look. I’ve been reviewing and analyzing deals for a few months now and haven’t had any luck with finding deals that make sense for me. I’ve been looking to find rental properties that are distressed enough to where I can force appreciation through rehab, have at least $200 in cash flow and avoid D class neighborhoods. I’ve had a few deals where the properties fit my criteria but before I can even go see it, it got sold.

What's worse is, I can't seem to focus on any one particular strategy. One day SFR seems like the way to go, then I see multi family as an easier way to achieve more doors in a shorter span, then I see short term rentals as a way to have higher cash flow each month.

Being that I am just starting out, I didn’t think long distance investing is the right move for me at this time. Any advice is greatly appreciated.

@Azeez K. Thanks for the contacts. I’ve just started and my initial focus will be in the residential sector.

Additionally, I need someone to be able to ensure my company is in compliance and help with initial setup.

Hello All,

I am looking for a real estate attorney in the Atlanta area. Does anyone have a recommendation? Thanks.

@Ned Carey thanks Ned. That’s all I’ve been doing lately is reading books on RE, listening to podcast and trying to look at deals on the sites I know of: Zillow, Trulia, LoopNet, auction.com. Should I be looking at other places as well?