All Forum Posts by: Len P.

Hi everyone! We are going to be building a new construction house on land in Massachusetts. We have an engineering company that we've worked with before that can do the architecture and engineering plans and submit for a permit. We would like to work with an architect to help us come with the design, layout, and elevations for the house. We're looking for a modern look that will fit in with the mountain location. We're contacting local architects and we also thought to see if this is something that could be done remotely. Have you ever worked with a remote architect on a project like this? If you did, how did you find them? Thank you!

Hello! I have been investing in small MFs in Massachusetts for the past 5 years and am looking to begin investing in SFHs in central/western St. Louis County (towns like Kirkwood, Webster Groves, Chesterfield). I'm aiming to focus on building equity over time through appreciation and debt pay down.

Is anyone investing in SFHs in that area? If you are, I'd love to connect!

Thanks,
Len

That's it, thank you Gerald!

Hi all! Recently I heard an online property insurance company advertising on one of the BP podcasts, but I can't remember what the name of the company is. Does anyone know? Thank you!

Hello! I have invested in several MF properties in North Adams and am happy to help if I can.

I calculate 15% for capex and maintenance and 5% for vacancy, so 20% overall. I agree with @nathan 

@Nathan Gesner that using 50% of income as opex is a good guideline. Good luck!

I think also try to consider how your incentives can be aligned - is there interest to look at properties for you or to help you find a good deal? Good luck!

Hi everyone! I have a good amount of equity in my rental properties and I would like to figure out a way to use that equity since my return on equity right now is quite low. One option I thought of is that my bank has said they will give me a credit line against that equity and then I could lend out that money to a flipper I know and I could profit from the spread. The spread would only be 5%-6% though.

Do you have any other ideas of how I could use my equity to get a return without refinancing? Thank you!

@Jarrid Weber congratulations on having options!

I think a lot depends on what is your goal - getting cash flow or growing equity? It seems like on the cash flow side, this property has a low return as you've seen. But if you're more focused on gaining long-term wealth, then as long as the property gives you some cash flow, you may prefer to enjoy the equity growth. Good luck!

Hi BP community!

My business partner and I are active flippers and are looking to grow our business. We would like to get into SEO and are looking to hire a company that can run SEO for us to drive quality leads. Do you know of a good company that does this?

Thank you!

Len