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All Forum Posts by: Mitchlyn D.

Mitchlyn D. has started 36 posts and replied 335 times.

Post: Where are your funds kept prior to an investment?

Mitchlyn D.
Pro Member
Posted
  • Rental Property Investor
  • Jacksonville, FL
  • Posts 342
  • Votes 142

@Kurt Granroth

I keep about 82% in the business checking account and invest 18% in either Tesla or Apple on a monthly basis.

Post: HELOC ADVICE FOR SECOND PROPERTY

Mitchlyn D.
Pro Member
Posted
  • Rental Property Investor
  • Jacksonville, FL
  • Posts 342
  • Votes 142

@Matt Medina

If you buy this property in AZ, are you buying at retail OR is it a fixer upper where you can add value?

The reason I asked because, you mentioned about the property appraising higher in the future. Are you sure of this? What if you buy and it doesn't? How would you pay off that HELOC?

Post: Rental Property Investing when they dont cashflow

Mitchlyn D.
Pro Member
Posted
  • Rental Property Investor
  • Jacksonville, FL
  • Posts 342
  • Votes 142

@Pascual Torres

Stay the course. I prefer to always get Cashflow

Or, you can buy a property that needs work and add the equity that way instead of going the traditional route of buying at retail.

Post: Anyone used a Hard money for purchase price only???

Mitchlyn D.
Pro Member
Posted
  • Rental Property Investor
  • Jacksonville, FL
  • Posts 342
  • Votes 142

@Account Closed - Things which I would look for are:

- What are the terms of the deal?

- How soon can you fund?

- What is the minimum credit score?

- Ensure that they communicate with you in every phase of the approval process.

Post: Anyone used a Hard money for purchase price only???

Mitchlyn D.
Pro Member
Posted
  • Rental Property Investor
  • Jacksonville, FL
  • Posts 342
  • Votes 142

Yes, I have used it to purchase a duplex when the Bank decided not to fund the deal because I accidentally emailed the inspection report.

With that being said, as long as the numbers make sense, then do the deal. 

Do shop around for the best rates.  Let me know if you have any questions!!  :)
 

Post: General Contractors in Kissimmee Fl Area

Mitchlyn D.
Pro Member
Posted
  • Rental Property Investor
  • Jacksonville, FL
  • Posts 342
  • Votes 142

Looking to do a New Construction Build using a VA loan.

Does anyone have a good General Contractor that can recommend in the Kissimme Fl area?

Post: LLC Commercial Loans

Mitchlyn D.
Pro Member
Posted
  • Rental Property Investor
  • Jacksonville, FL
  • Posts 342
  • Votes 142

@Sean Beyrouthy

If you are purchasing residential homes it’s usual for Lenders to require about 20% down payment.

I am a Business Broker with connections to multiple Lenders that can assist! Will have to look at the deal but in most cases, this is a pretty standard. 😀

Post: Recommendation for a Small Bank and/or Local Credit Union in Jax

Mitchlyn D.
Pro Member
Posted
  • Rental Property Investor
  • Jacksonville, FL
  • Posts 342
  • Votes 142

@Jared Kornbluh Hey Jared. If any of those listed banks don't work out, Im a business Broker that can assist you with finding great financing to close in your LLC!

Post: Jacksonville Real Estate Networking Event - December 2021

Mitchlyn D.
Pro Member
Posted
  • Rental Property Investor
  • Jacksonville, FL
  • Posts 342
  • Votes 142

@Basit Siddiqi

Would love an invite. We have over 10 units in Jacksonville.

Post: Rental Property in Jacksonville, FL

Mitchlyn D.
Pro Member
Posted
  • Rental Property Investor
  • Jacksonville, FL
  • Posts 342
  • Votes 142

@John Philip Eugenio

Jacksonville is a good Market. We have about 10 units here in Jacksonville. Let me know if you need any advice on areas as well!