All Forum Posts by: Logan Pourbaix

Looking for someone to assist in underwriting a manufactured home park deal. I have 10 years experience in real estate and several years of experience in land home packages in the manufactured home space. I don't say that in a bragging manner, just attempting to add perspective that I know the space but I'm looking to get really nitty gritty with the underwriting.  Im trying to grow my portfolio on the buy and hold side and realized my weakness of underwriting buy and hold vs. buy, infill and sell. I love to bring value to the table. If theres anything I can do or assist with I'd be glad to; or could compensate for time! Thanks in Advance

Looking to connect with someone wholesaling in the Greenville SC market. Any tips or direction greatly appreciated! 

@Nick DeMarco Hey man. I still have not participated in the program either. I don't feel any hesitation. I tend to grasp at these things when I'm in a lull or slow part of my business. Ive been blessed to have my plate full for the past 6 months. However I know I likely should be preparing for that now and entertaining the program for myself. Just a personal opinion but I think at first I'd go for the 3 month program if they still offered this option. I believe it was around $3k. We've probably all wasted more than that on a non essential item in life!

Hey BP- Just curious to get any feedback if anyone has ever hired out driving for dollars? Its usually one of the most successful forms of marketing and locating off market deals that Ive found. However I am a full time investor and Im bogged down in the day to day management of my projects. My questions is, first, has anyone ever hired out driving for dollars? If so, what structure did you use? 

1.) Pay salary, hourly?

2.) If hourly do you pay a lower rate per hour then a bonus on any closed deals or just stick with a higher hourly rate and no "commission"? 

3.) Pay Gas or offer company vehicle? (I have an 2013 Camry that could be repurposed for this) 

Any thoughts or ideas are much appreciated! Thanks 

@Nicole Heasley Beitenman Again, as I was telling Nicholas. I have not personally used the JDC programs but I did call multiple other real estate based coaching businesses and I must say by far the JDC Coaching Program was the most organized, and most beneficial (opinion based for me my needs. i.e. looking to scale my business). I think they offer a 3 month program now that starts somewhere in the neighborhood of $3k. I would approach it like looking for a property manager. Do your research, pick your best 2-3 options, and interview each one of them specially and see what you feel most comfortable with. Hope that helps! 

@Nicholas D. Hope all is well Nicholas! just wanted to provide you with a little feedback. I still have not actually pulled the trigger on the coaching package myself! I need and want to I just got a little busy (good problem compared to what I was having at time of inquiry with JDC). However I did have a consultation with Brain Leubben who is essentially an ambassador for the JDC Coaching program. Very helpful, very insightful, and a student of the JDC program himself. Id be happy to provide you with his contact if needed. Another quick side note that I noticed is originally when I inquired they had a 12 month or a 6 month program available. I believe I received an email stating that they are know offering a 3 month package that starts somewhere in the neighborhood of $3k so that be a great option if your just looking to get your feet wet with coaching. Hope that helps! 

@Tarik Turner Thanks for the info! Just Curious, if you are looking for a Non QM mortgage, do you use a local lender for this type of product or someone national? If you have any references they would be greatly appreciated! Thanks 

Hey BP- working on getting a refinance for a recent SGL family purchase. When speaking with a lender from a local bank, he mentioned I could get a 30 yr fixed rate at 5.25%. However after turning in some documentation he said my income on my tax return was too low for a refinance on a investment mortgage at 30 yr fixed. He offered an in house product which is an ARM mortgage. Its fixed for 5yrs and becomes adjustable after year 5 at prime +1. On a 20 year term. I don't have as big of an issue with the adjustable rate as I do the 20 year term. What type of terms are the most common for a refinance? Not looking to pull additional cash out, simply the Capital I gave invested in purchase & rehab. Thanks.

Hey Bp, 

I've recently began making an effort to ramp up my rental portfolio. Ive been meeting with a local lender I've used on several past projects. The particular project I'm having issues with is a SGL family I purchased for $75k all cash. There's an estimated $30k in rehab which I am also funding out of pocket. I conservatively estimate the ARV at $150k. When I spoke with my lender about refinancing, he mentioned I could do a 30 yr fixed rate at 5.25% (investment or second home mortgage). However went I submitted necessary documentation he told me the income on my tax returns did not support a 30 yr fixed rate investment mortgage for refi. I don't want to pull additional cash out, I'd simply like to get back my initial capital. The rental would have to season for 6 months and show proof of income which I also don't have an issue with. Anyone ever ran into this issue and how did you address? Thanks

@Bastian Kneuse did you ever sign up for the program or get any feedback?