All Forum Posts by: Logan Lambert

I'm a newbie to the BP community but a long-time listener of the BP Podcast. I would like to connect with all of you! Thanks, 

I have my eye on a 4 plex I'd like to buy, renovate, rent, and hold.

What kind of loans are best for this?

4-Plex details:

-currently occupied

-estimated sale price 265k

-ARV 400k, and 4k/mth in rent

Background on me:

-I have an LLC

-I own 4 single family rentals

-each has around 70k + in equity

-all cash flow well

-credit is 800+ with adequate income.

If yall were me, what loan options are best to buy, rehab, and rent a 4 plex?

What is a good way to feel out of state real estate agents and others that I will need to build my business. I am not able to fly to meet up at the moment and probably won't be able to for 6 months or so. What are some good questions to ask?? Thanks in advance!

Does anyone know any banks in or around the Augusta Georgia area that will work with out of state investors? Preferably with 30 fixed conventional loans!

Hi everyone,

Some business partners of mine are looking into BRRRRing in the Baltimore market and are looking to find a GC, agent, property manager and an attorney that could help us affordably close on properties.  

Our strategy is to buy out of shape properties and rehab them back into shape, so a GC with experience in doing extensive renovations at once would be preferred. An agent with market knowledge and deal flow that could present us with off and on market properties that match our strategy will be needed. A property manager that can assist with rent collection, tenant screening, maintenance, and run an online ledger for us to track expenses. Lastly, we'll need a closing attorney who can close quickly and as inexpensively as possible.

Any recommendations are much appreciated!

I'm doing my first 1031 exchange and will be netting about $200k. I am planning on using it to buy multiple properties in AL, TX or OH and wanting to use the BRRRR strategy on these homes. Looking for some advice on how 1031 will view rehab costs/ ARV on something like this?

Quote from @Logan Lambert:

Quote from @Stephanie Flores:

Hello I am new to the investing industry and have been reading/listening to podcast and reading forums. I went on Craigslist today and found the post attached. I decided to reach out. He responded with

“Hello this is Felipe wholesaler in Orange County
Nice to hear from you hope your event went well

I have motivated cash buyers
That love places in distress or properties that aren’t listed in the market”

I’m wondering how legit this is if he is a wholesaler and truly has buyers he is working with. Should I meet this person over coffee? Any advice would be appreciated..before I meet a stranger from Craigslist 

 Hey,

I have connected with a lot of random investors on the internet and would encourage to jump on the phone with them first and ensure as best as possible they are legit and not a scammer. I would absolutely encourage you to get out to local investor meetups. 

 Yes, this system probably works for a more seasoned investor, but definitely not for a rookie. Me being a new investor would definitely not know the right or wrong signs meeting up with a "potential" partner. 

Hey guys I am a Landlord out of Metro Detroit area. I am wondering who has done the BRRRR method as an investor and what institutions are investor friends for multiple BRRRS. Should I check into local smaller banks here or Credit Unions?

Hello I am new to the investing industry and have been reading/listening to podcast and reading forums. I went on Craigslist today and found the post attached. I decided to reach out. He responded with

“Hello this is Felipe wholesaler in Orange County
Nice to hear from you hope your event went well

I have motivated cash buyers
That love places in distress or properties that aren’t listed in the market”

I’m wondering how legit this is if he is a wholesaler and truly has buyers he is working with. Should I meet this person over coffee? Any advice would be appreciated..before I meet a stranger from Craigslist 

Apparently, getting a DSCR loan for a rural property (horse farm) is much more difficult than anticipated as many of my normal lenders do not loan on properties categorized as rural. Does anyone know a lender that does in the Middle TN area?