All Forum Posts by: Michael Cleary

@Sean McCluskey

Just locked in 4.75% for 30yr SFR on a cashout refinance to complete a BRRRR. Was 4.875% before fed cut at both lenders I got quotes from.

@Jon Dang My wife and I just recently replaced our outdoor condensing unit and evaporator coils in the attic of our personal residence here in BR. We have a 3 ton unit, and upgraded from R-22 to R-410A (what all the newer refrigerant systems are specc'd for) as well as an increased cross-sectional-area- return air ducting. All of this was $3770 for parts and labor from a local contractor who has been in the business for many years, and he did great work and worked with all the small requests I had since I too am an engineer and wanted to make sure we don't have to touch these for 12+ years besides cleanings. Happy to give his contact info when/if you need it. He also was willing to replace my leaking evaporator coil unit and recharge the unit with an R-22 equivalent (cheaper cost but 3% less cooling efficiency) for $1.2k, so he wasn't just trying to sell a new unit like a few of the other companies we got bids from. Also, our entire unit was installed in 2005, so ~14yrs prior to requiring major maintenance. 

Pertaining to your deal, the numbers look solid as long as you are comfortable living in the area. Take a look at crime, as here in BR there are certainly bad streets right by good streets. If you already have the rate locked in, are you already under contract?

Queensborough National Bank and Trust in Augusta, GA does not have a minimum loan amount. I am working on a cashout refinance currently for a property with an expected 75% LTV amounting to less than $55k. One example of a local lender willing to do what the big banks are not.

@Christian Wamsley Congratulations on your investment! What is the expected ARV?

I'm finishing fixing up my first long distance BRRRR in Augusta and having a management company start looking for tenants. Which company are you using?

Thank you for all the great responses! 

@Courtney Fricke I received my quote numbers from two separate arborists in the local area. Does your reach extend into the BR area? I'm even leaning towards just having it cut down and then disposing of the debris myself. 

@Sam Shueh At it's base, the largest diameter is around 18"

@Robert Leonard Thank you for the welcome! While I'm glad to hear the arborists were giving me fair pricing, I had hoped there would be room to come down.  I've tried to squash volunteer trees when I see them popping up - a continuous battle. LA is known for it's live oaks, but unfortunately, I have weaker trees on my property. 

@Marian Smith Was the person/crew who took down your tree licensed/insured? How did you find them?

@Chris SzepessyThanks Chris! I'm a buy and hold investor, so I'm finding out realizing I have to take it into consideration during the analysis. 

@Colleen F.Fortunately the tree I'm referencing is still alive. Arborist indicated that it appeared to be healthy too - no signs of imminent death. Unfortunately though, the last sour gum that fell displayed no signs of dying either before it fell. Tons of green foliage at time of "timber"

@William W.I'll have to google them - thanks for the tip!

@Justin KaneTrue, true. It's easy to forget some expenses when starting out and figuring out what to look for. 

Hello folks! Have you ever had to budget tree removal into rehab expenses for properties your analyzing based on their proximity to the house? I had a sour gum tree barely miss my personal property after falling due to no distinguishable reason (didn't follow a storm, no fungus/rot, no significant signs of wood eating pests), so I'm more risk adverse than in the past. 

What type of trees, if any, would you not want near a prospective real estate property, and for your area, what is a reasonable amount to estimate for tree removal? I was quoted $1200 - $1400 for a ~30ft sour gum tree removal in SE Louisiana and thought that was high.