All Forum Posts by: Martin Gaspar

@Billy Brown I'd gladly take some guidance and recommendations.

I have the same question for Texas.

I did some calling today, and I'll do more tomorrow. So far, it's much if the same. 15 year amortization with 75 to 80% LTV. Is yours fixed, and what is the required LTV? I'm just curious what I could find.

I am attempting to BRRR as my primary business model. I thought I had an exit strategy in place with a mortgage company including terms that were fixed and amortized for 30 years with the understanding they had to season for 6 months. Now, it is time to refinance the first property I purchased this year, and as I reinitiated the conversation with the cited mortgage company, I was informed there was a misunderstanding, and they couldn't lend to my LLC. This is entirely my fault, as it is explicitly and redundantly stated in these forums. I should have know. Nonetheless, I have purchased 3 properties running my numbers under these terms. As it stands, I have commercial lending in place that is quite favorable because it is loan to cost (allowing me to borrow for the rehab), but the numbers are very tight, as the mortgages are amortized over 15 years. They also have 3 year balloons, which make me a little scared. The first property is rented; the second property is very nearly complete with the remodel. I just purchased the third this week. Does anyone have a suggestion on what I should do to secure long-term financing? Going forward, should I simply purchase new properties in my name? I realize there are variables unknown and specifically unique to me, but I'm certainly hoping to solicit some wisdom.

Does anyone have advice on how to run title searches in Texas before going to an auction?

My friend bought a house while on sabbatical in the states from Indonesia bought a house and wants to keep it.  He's looking for management agencies to keep up with it for him while he's gone.

I've heard there are just so many bad management companies; with that being said, what should he look for in a good one?  Is there a review website with good, real reviews?

Thanks in advance.

Also @Jonna Weber, your podcast was one of my favorites for what I personally want to do; it just makes so much sense for me.  Slow, steady, smart, and letting it grow over time.  I'm not in a hurry, so your (and your husband's) thoughts resonated with me.  I know this is old, but I started from the beginning of the podcast, so I just listened to it.  Thanks for your time and doing the show.  

So this first deal I alluded to buying fell through.  I liked it on paper, but when I went to the property the second time, I realized there was an addition that didn't look built as well as I would have liked.  I was really bummed, but here are the numbers; maybe, I can learn something:

price:  $40,000

renovation:  $10,000

ARV: $60,000

Rent:  $900

I would have paid cash for the house and renovations, rented it, and refinanced it.  It doesn't meet the 2% rule; it also doesn't really leave a lot of margin for issues in the remodel.  Are there any thoughts out there about my thought process.  I'm passing on the property, but I'd love to have any insight.  

I'm new to the site. I've been listening to the BP podcast for a couple of weeks; I'm up to episode 45 or so. I wanted to say hi. I haven't bought an investment yet, but you might have seen me on Season 2 of Fixer Upper. I'm interested in Buy and Holds long term, but I haven't figured out my strategy. I have a potential deal I want to post where appropriate, but it will be full of rookie questions. I'm sure. I love the community here and want to give it my best to be engaged and headed toward my real estate goals. Thanks everyone for all you do, especially the podcast guests.