All Forum Posts by: Charlie Jones

Thank you Anthony Dadlani I will be sure to do that. Ive heard the horror stories of just winging your Rehab Costs.

Anthony Dadlani I totally agree Sir, but I guess what I'm wondering is when my Realtor sends me multiple listings for investor properties, can I use, say, an avg repair number or rule of thumb to quickly weed out the higher profit homes from the slim profit margin homes right away. Even before I head out to the properties for the due diligence period?

Like I read somewhere one time, but cant remember the actual rule of $10(Cheap Rehab-$15(Quality Rehab) per square ft on a total home rehab. Has anyone every heard of this rule?

When doing a property analysis and using the 70% rule, knowing the repair cost is pivotal. As a new investor, how can I quickly calculate repair cost during the general analysis portion of property analysis in order to not spend to much time on a No Deal situation? Is there an equation or rule of thumb I can follow?

@Ned Carey Thank you so much for your input. Now as an alternative, could I use portfolio lenders. As I heard that would be an option to achieve the same result just at a higher interest rate but not as hard of terms of a HML. As for Titling under the LLC, I wanted to use the Holdings Company and the LLC as protection to my personal assets. I've heard that portfolio lenders at smaller institutions will lend to me or commercial loans. Do I understand this correctly Ned?

Brandon Turner I just listened to the Podcast. Thank you. Very informative. Im going to have to look into the P2P.

Brett Russell Ya my research seems to have yielded the very same information you just provided. Thank you for confirming that. And from what Ive read it is the Portfolio Lenders I would need to find. I am going to have to research that avenue. I may be able to use this as a viable exit strategy and buy and hold all my properties.

Thank you both for the awesome information!!

Ya I have noticed that already. Ive been on here all day learning so much. Then I realize I have so many more questions lol.

"The dwarf that sits on the shoulder of a giant can see further than the giant." :) >>>> I love this quote you had.

Raquel L. can you explain the CASH OUT REFI strategy please. I'm a bit confused but not far from the light bulb going off.

Are you saying I can use a HML, purchase, rehab, "CASH OUT REFI, Then use the capital to purchase another home?

If this is the case, How quickly can I refinance into a Mortgage Loan after Rehab?

DO I understand you correctly. My confusion comes in because I thought you had to wait a year if you want to refi based on a new appraisal.

Anyone can chime in to help clear up the confusion. Thanks!!

Jon Holdman Hmm so does that mean so only way to get out of a HML loan is to sell? I will be locked into a HML for a year until I can refinance it?

I was just reading about a commercial loan on another thread. Some people were saying you could title it in your name at a 30 year fixed then transfer the title after sell. Would that work?

Jon Klaus What are some good exit strategies that you would use. I was thinking of using a similar exit strategy but I can go the convention loan route. I have a 760 credit score and only own one house in my name. All subsequent houses will be owned by my company. I was thinking of using HMLs to finance the acquisition and once rehab was done refinance it into a traditional 30 year fixed using the equity as leverage. The cash flow the properties as rentals. Will this exit strategy work for me?

Thank you much Dawn A. I look forward to interacting with everyone.