All Forum Posts by: Kyle Perry

Getting ready to do my first BRRRR, where I will be purchasing the home and rehabbing with cash. I then plan on Financing the property.

My question is what percentage of ARV are you guys able to finance for your Non-Primary Residence investment properties?

I spoke with a local bank that offers 80% for a primary residence and 70% for non-primary residence such as investments. Not sure if this is typical or if I should try searching for other banks.

Thank you all for your input. My main concern is strictly the odor. I just wanted others input as to your experience after a tenant that either smoked heavily or had grown marijuana in their property on whether it had negatively effected your properties.

Do those of you that have rentals in states where weed is now legal allow your tenants to possess, use or even grow in your properties? Just curious as I am getting ready to invest in a weed friendly state and wanted others input.

No this isn’t about weed being “bad” it’s simply about allowing it in your properties due to the odor. Similar to investors not allowing smoking cigarettes or pets in their properties.

@Heather H.

I know states vary however in Indiana Earnest Money is typically given back to the buyers (Situations obviously vary). Our process is to sign a “Mutual Release Agreement”. If the seller is unwilling to sign this then your real estate agents managing broker should get the process started to have EM returned to you. Like I said I am unsure of your states process for this but your real estate agent should definitely be able to help you get your EM returned.

@Michelle Verdugo

If you have time I’d suggest taking an in person class. I’m sure you can find which one is best through talking with your local agents or even a quick google search.

If you don’t have time to go and sit in a class multiple nights a week then maybe an online class would be more beneficial. My wife just did it online and used “Real Estate Express”. She thought the class was super easy to follow along with

@Michelle Verdugo

Personally I have found that getting my real estate license has definitely increased my knowledge in all of real estate including terms, contracts, and just the overall process of a deal from start to finish. It is also great for networking with other agents, investors, lenders, contractors and many others that are beneficial to real estate investors.

Having your license can be very time consuming with classes and studying to passing your test and also to providing good service for your clients ie working weekends and evenings.

Thank you @Aaron Linden. However I'm somewhat new here and can't seem to find that group? Is there a group forum on here for them? Any help haha

Thanks

I am looking to get together with other investors in the South Bend, Indiana area. (South Bend, Mishawaka, Elkhart, Goshen) I am a new investor and would love to network and share ideas with other local investors. 

If there are already meet ups in this area please let me know, I'd love to join.

Thanks!

Kyle Perry

I have used this type of flooring while doing some projects. It actually is fairly simple to do. The hardest part is just making sure your measurements and cuts are accurate. I have laid about 500+ sq ft floor in a weekend by myself and a buddies help. 

I am not super experienced in handyman type of work, but I am a "youtube master" and always watch videos to learn tips from more experienced people.

Thank you @JD Martin