All Forum Posts by: Antoine Martel

We always buy our properties with LLC's, and I recommend that you do the same in order to protect yourself. After you have done this, you can get the loan from the HML to the LLC and you can hold that for about 12 months. Then at this point in time you can go to a conventional lender and do a long-term mortgage. That is what I would recommend. If you are going to live in one of the units you might have a better shot at getting a conventional loan right up front with lower expenses, but of course that will take a longer amount of time to close than a HML!

We have tried many times to make offers on auction.com as well and it has not worked for us because of many different reasons. Most recently one of the auctions was postponed and we see this happening a lot. If you have a local realtor, or if you are a realtor yourself, I would recommend reaching out to the bank. I am not sure if the banks sign something with auction.com to exclusively list the property. You will have to ask the bank that question.

Good luck!

You can do your analysis anyway that you feel comfortable with. But for us, when we close on a rental property we see about $5000 in closing costs for a 30 year mortgage. We know that this is a big hit up front, but the way that we see it, that closing cost will be paid back to us within the first two years and then after that, for the next 28 years all of that cash flow will be coming to us. We feel that is reasonable. 

@Rebecca G. Thank you!

@Douglas Skipworth Thank you.

I will reach out!

Hello!

I am a real estate investor from Los Angeles. For the last two years I have been building up my rental property portfolio in Memphis among other cities. I am looking to build a team in Toledo to help grow a portfolio there. We have mostly been doing BRRRR projects in other cities and would like to continue to do the same in Toledo. We will do single family homes and multi family properties.

If you are a real estate agent or know of someone who we should reach out to, please let me know.

Thank you!

Never heard of it or used it before. Can you provide a link? 

I would say that for the cities that we do business in, we do about 10% vacancy and this is a safe number to go with. Another option that you can do is to call a property management company in the area you are going to do business in. From this you can ask them average vacancy rates for their properties and use this number!

First of all, you never know what the appraiser is going to say or do. It is just a chance of luck. Also, sometimes when you are going to get an appraisal from a bank or something. They will choose the appraiser and you will have no contact with the appraiser before they go see your house. This way you will have no way of contacting them and will not be able to show them the comps you were thinking of using. I would take a average of all the houses that sold within the last 6-12 months, that have 20% of the sq footage and same bedroom and bathroom count. Use that to find your appraisal value.

Hello Everyone. 

I am a 22 year old real estate investor/entrepreneur. I have just graduated from college and I am looking to meet other like-minded investors who are around the same age as me to connect with.

If you are in LA, or surrounding areas, and are seriously interested in investing in real estate and teaming up. 

Let me know and I would love to chat with you.

Thank you.

Great project. Love it. 

We have been doing a lot of these BRRR Projects as well but we normally spend just $3-5k on the repairs. We have never spent over $10k on a repair, but that could just be because that is not what the market demanded. You always want to make sure to match the market!