All Forum Posts by: Logan Sierra

Very thorough answer! Thank you! I’m exploring this as a strategy to use. Just trying to get as much info as possible.

John, I have a very savvy real estate investor that would love to talk to you. He primarily operates in the Baltimore City market. He is always looking for private money to fund his next deal. Message me if you would like me to share his info. Happy to help and congrats on your success!

@Joshua Bautista thanks for respondinng

-how do leases work for a tenant renting by the room?

- is furniture included?

- do you restructure houses to fit more rooms? 
- do you see more ROI with this method?

Thanks!

Quote from @Jason L.:

Looking for private investors looking to partner on short term deals.  Paying great returns, with points, and collateral.  Message me to find out more..

I’ll bite as well. Tell me more please.

Hey BP!

Are there any investors using rent by the room type strategies in the Tulsa, OK area? Exploring multiple possible exit strategies for BRRRR. Thanks!

Quote from @Nate Herndon:

A client of mine is a realtor in the Tulsa area. Please shoot me an email and I will get his contact info over to you.

 Nate,

Email sent. Thanks!

Logan

Hey BP,

Building a team of professionals in Augusta, GA and Tulsa, OK. Looking for agents, lenders, contractors, property managers, and attorneys in both areas. PM me if you have a recommendation!

Hey BP!

I am working to build a team in Tulsa, OK and Augusta, GA. I am in need of recommendations for Property Managers, General Contractors, Realtors, and Attorneys. I would love to know who you are all working with! Thanks!

-Logan

Quote from @Joe Hammel:

My portfolio is in Metro Detroit. I cash flow over $100k with 16 properties...a few BRRRRs in there. They usually end up a little over $100k just to be in the locations that I want. I also tried the midterm route on a few. 2 of my multifamily units are furnished midterms. 

If I could up vote this twice I would. I am leaning heavier towards the Detroit area. Seeing your numbers is immensely helpful! My plan rn is to find a private investor (if you know one let me know) for the cash payment of a BRRRR deal. Keeping that to 50-60k. Use a personal loan/CC for the renovation. Then refinance. Obviously I would have to account for the loan %, closing costs, fees, and refi % in my underwriting. 

Let’s connect! I’ll send you a message with my cell if you don’t mind. 

Quote from @Jake Andronico:

@Logan Sierra

I'm sorry you're in that situation. Would need more info. 

Do you have equity? 

Is the house turnkey? Older? Renovated? 

Do you have cash reserves? 

@Jake Andronico We used a VA loan 3 years ago with zero down. The property is in an A class neighborhood. Condo style property. It's definitely turnkey. Build in 2020.
I do not specifically have cash reserves for property investing atm. I do have a general emergency fund but I wouldn’t really want to use it for that, if that makes sense. 
Thanks for spending the time!