All Forum Posts by: Mark K.

@ Rob Drum or @ Ravinell Wilson, can either of you join in here? 

Will, message me and I can give you two different names that might be able to get you better deals.  

Ok. My first one on Vassar was $45K and rents for $750. My next one I did the BRRRR strategy on. I got it for $24K, total rehab was $22K and it rents for $795. What does yours rent for?

@Will Triplett, can I ask what street your house is on and how much it cost you?  I have two rental homes in Birmingham.  One is on Vassar Ave and one is on West Blvd. 

@Michael Lin.  My two houses are in the Eastlake area.  I like both houses.  I not a fan of either tenants though.  One is late almost every month, but she does pay the late fee.  The other one lied on her application,  but is still there and some outside group is falling for her scam and paying her rent.

I was planning to get many more houses there.  Due to my tenants, I've now gotten 7 houses in Indiana.  If I can ever get good tenants where my faith is restored that Birmingham has good tenants, I may get more houses there.  Until that time, I'll continue to get them elsewhere. 

My tenants in my houses in Indiana all pay on time and have been great so far.  Maybe I just have had bad luck with my two houses, but until I get good tenants, I just don't know.  I have instructed Rav that i want the one tenant gone for sure when her 12 month lease is up.  

I will try to let you know this summer once that tenant is gone if we were able to get a good tenant in place. 

I have two rental homes in Birmingham.  My property manager is @Ravinell Wilson.  I'll ask him to respond to this. 

I've been at the Waynesboro meet up a few times.  I was the speaker once on investing out if the area.  I don't know if the meeting was held tonight as the organizer was out of town.  I'm in the Staunton area if any of you get here and want to meet up.

I bought a triples in 2018 and put 20% down.  I used a local credit union.  Maybe check with credit unions in your area. 

I own two single family homes in the Eastlake part of Birmingham.  I've had minimal issues and the rent always gets paid. 

My wife has a 401k at her job.  It's through Vanguard.  The max loan is $50K.  We borrowed $46K earlier this year.  She set up a 5 year payback and interest she paid that went into her account was 6.5%.

We bought a house for $24K and had a complete renovation done for $22K.  The appraisal then came in at $77K.  We then refinanced it for $51,500.  When we received the money, we completely paid off the loan.  We are required to wait at least 2 weeks until we can borrow it again.  We also paid closing costs from this money and still had a few thousand left for us.

The process of buying it and getting it refinanced took us exactly 6 months. 

We are looking for another BRRRR house so we can do this again.