All Forum Posts by: Kyle Root

@Nghi Le that’s super helpful. Thank you!

@Nicholas Covington the two commercial loans Value is 80k single family 2 bed 1 bath with 300 a month positive cash flow and my hard money loan is 155k and once renovations are complete and rented I’ll be 600-650 positive cash flow.

Any suggestions on lender?

@Alex Bekeza thank you for that. I had no idea! I’ll try to do some research and see if I can find some in my area!

@Scott Schultz yeah man they cash flow nicely; his concern is that I recently quit my job and doesn’t want to refi and hold debt because I can’t show self employment income. Which I became two month ago or so.

Here's what I don't understand. I have leases for all of them and can show they rents are much higher then PITI. For lender that work with investors this should be a no brainer in my eyes.

Need some advice on what to do here. Quit my job 2 months ago and I am now self employed as an agent and investor. 

I currently have (2) commercial loans (balloon loan) under my personal name and if I cant refi by feb 2021 I owe the full amount. I have a hard money loan under my LLC that I need to refi in 4 months. Every lender I have went to says I need to show employment. I thought I knew the guidelines but apparently a lot of programs are now either on hold or gone because of Covid. Can someone help me out here and push me in the right direct or does anyone know a good lender that could help me out? In the wisconsin area.

Please only serious responses here that will help me out. Thank you guys in advance

@Daniel Monk Well for starters I put 15% down, strictly running off the 1% method. It was basically a turn key property but putting that much down drained my cash reserves and I had to wait to reload before my next purchase. Luckily I found BP shortly after this and have BRRRR'd my last 3 properties all in GB which have been great investments. But the duplex I didnt account for cap ex, maintenance, and potential increase in prop tax (which happened).

I found a lot of nice little 2 bed 1 bath 700 sq ft properties in GB that have been great little properties so far, should close on another in a few weeks. 

I dont know Kimberly as well as Appleton and GB but here are my thoughts. I think people are leaving Appleton and moving there. Several years ago it was much more affordable but the housing market in Kimberly is really growing. I dont think its a great rental market, but potentially a decent flipping market if you can find something that works for your number threshold.

@Rod Hanks thank you for the information. I will look into this and hopefully gets me closer to the next deal. Thanks again!

@Rod Hanks probably a stupid question but do you have any thoughts on how find home owners that aren’t selling? But are the owner of the property?

Hey guys! Im curious the way you guys contact home owners that live out of state. I travel 24/7 but invest in Northern Michigan and the Fox Valley Area in Wisconsin but I’m mostly traveling outside of those areas. Anyways, I have several listings I’d like to contact the owner directly as I’m interested in working out an owner financiers deal.

Thanks in advance!

I have been researching this apartment bldg the last couple of months and I am looking for some incite from other 5+ unit investors. I went heavy on expenses and light on revenue and the COC return is 23%, so I want to chase this but I have a few dilemmas. The biggest dilemma is that my capital is around $15k, I just purchased a single family home about 2 months ago to BRRRR and that is all i will really have left to go re-invest into another asset. So here are a few questions I have for my fellow investors.

1. How much do I need down if I start an LLC for the property?

2. What are some options that I have where I can delay or minimize/defer payment for a few months but still own the property if I put it under an LLC?

3. Is getting an LLC the best option here? If not, what may be some other ones?

4. I know I can find investors and I am not sure if this is the wrong mentality to have, but I selfishly want this property solely in my name. Is there other options other then looking for investors? 

5. What are some things that you guys have ran into that you would of done differently when starting an LLC and going into apartment bldgs?

Thanks to everyone in advance.