All Forum Posts by: Michael Logan

Hey Cole! Good to see u on here! I've been looking for a good private lender. I've got a good hard money lender but the costs are high. We're buying houses with cash and doing the BRRRR method but I would love to scale up to larger multifamily. Shoot me a PM when u get a chance!

Hey Simon, I live in Florence, AL and I would definitely recommend buy and hold.  Have u already moved here?

Hey Shawn, I live in Florence, AL.  We've owned some lower income properties in Sheffield and they're doing pretty well.  We're currently buying one in Tuscumbia and one in Florence and the number look pretty good.  Are u looking to flip or buy and hold?

Hey Linda, my wife and I live in Florence, AL and we've been investing for about 5 years.  Are u still investing?

Hey Michael, I live in Florence, AL!  I've been investing for about 5 years.  Have u pulled the trigger on a house yet?

Hey Allen, I live in Florence, AL!  Did u find a bank?  Are u still investing?  I've been investing for about 5 years.  

Welcome to bigger pockets, you're gonna love it!

@Silvia Ladero Our SFM in Goodlettsville (15-20 minutes north of Nashville) cash flows about $220 per month after all expenses (PITI, 13% prop. mgmt, 7% maintenance, 7% capex, 8% vacancy). 7% capex may be a little high since we have a new roof and central unit. The house is fully leveraged since we did a cash out refinance before we moved out of it last year. It rented for $2000 last year, and we'll likely raise the rent this year. It appraised for $212000 in Nov/2015.

I want to give you this info in case you use Renters Warehouse:  the property mgmt is only 13% if we have to place a new tenant every year.  I know that's high, but they're very professional, plus we added eviction protection for $15/month.  Renters Warehouse does not charge a set %.  They charge one month's rent for tenant placement, and then $75 per month for prop mgmt.  We actually just got very lucky:  our tenants got transferred to a different state before their lease was up.  So we're doing a "tenant exchange" where they keep paying the rent until we find another tenant, and they will be paying our tenant placement fee of $2000.  Also, we have 0% vacancy!    

@Daniel Skelton you're not invited.  Nobody tell Daniel where we're meeting!  Just kidding of course, he's great guy.

Will do Brett!