All Forum Posts by: Leo B.

I'm seeking realtors contacts in Milwaukee.  Interested in fix/ flip opportunities in the short term and buy and hold for the long term.  If you are a Milwaukee investor-friendly realtor, please message me.

Thanks,

-Leo

I'm interested in using this strategy for building my portfolio of buy and hold properties. For example, purchase a SFR for 50K cash, put in 20K for rehab costs (ARV of 100K), rent it out to a tenant for cashflow and then refinance 70% LTV for $70K cash out. Rinse and repeat. I have several questions that come to mind that I'm hoping to get some answers on from the board.

1. Will lender require seasoning?  If yes, what are the typical time periods?

2. Are there any lenders that don't require seasoning?

3. If property is purchased cash with equity in place (ie. $70K purchase price and $100K value), will lender perform a cash out refinance right after the purchase?

4. Will portfolio lenders perform a cash out refinance on 5 properties at the same time?

5. Are the LTVs for cash out refis different on SFH versus MFD? If so, what are the typical LTVs for each type?

Thanks in advance for your replies.

Best,

-Leo

James- What are the average prices for a turnkey SFH in the Cleveland area in B and C neighborhoods? What are typical rents and CAP rates?

Hi Sue- Thanks for the post!  I've been up north in the Redding area before.  Prices are definitely lower than the Bay Area.  My first impressions is that the demand up there doesn't seem too high which translates in the lower prices and lower margins.  Thoughts?

Thanks James!

I spoke with a local investor here in the Bay Area that's also investing in the Columbus market.  I see you are from Cleveland.  I haven't done much research but from a high level the cash flow looks attractive there also.  Do you have any fix and flip opportunities out there?  I am interested in building more capital upfront first before investing in more rental property.

Hello All!

My name is Leo from the East Bay of the Bay Area. I've owned rental property in the bay area as well as in Texas. I am now looking in other markets where there are better opportunities for cash flow (CAP rates) and fix and flip opportunities. Lately, I've been researching the Indy and Milwaukee markets for opportunities.

I'm glad to be a part of great investment community here and looking forward to networking with like-minded individuals in the near future!

Best,

-Leo