All Forum Posts by: Natalie B.

We did this last year! Our intent was to sell but we ended up needing the extra space so we moved in! Started out with a HML (I believe 1 year term), reno took four months and we used a cash out refinance with a local lender to pay off HML and then moved in. We were not able to occupy the home until after the refi. Ownership went from LLC to personal names and now trust. I can't remember the exact requirements of the refinance lender but I do know we had to be 100% owners of the LLC. We also weren't able to profit off of the refinance like we would have if we sold but we traded for tons of equity and a larger, renovated house! Good luck!

Thanks for your reply! We are purchasing and renovating with cash and plan to put about $120k in repairs up front. In that case, would you still recommend speeding up repairs?

I’m acquiring a commercial lot as a part of a portfolio of residential lots and SFRs. It’s cleared and level (.32 acres) with nice main road/hwy frontage (on a corner) and in a D- area but walking distance to a military base. Surrounding businesses include two tailor shops, car mechanic/lot and a small BBQ joint. I’ve locked it up for $39k and tax assessment is $55k. Completely out of my wheelhouse so would love opinions/suggestions on an exit or hold strategy.

Hi! My husband and I are investors in Richmond. He is a Class A and we have a fantastic team with proven track record. Would love to chat. 

My husband and I locked up a portfolio of 5 SFHs, 2 duplexes (one is a tear down) and 4 buildable lots (1 commercial). The seller was sick and most of the properties are in livable condition but need repairs and rented way below market. All tenants are cooperative and current. We plan to (light) reno one house at a time over the next six months and offer the existing tenants (all M2M leases) a new lease with increased rent (unless they choose to leave) then refi out with a commercial lender and repeat. Would love feedback on our approach, suggestions from those who have successfully BRRRR'd a portfolio before. Note, we are well versed flippers and have a great team of contractors and a solid property manager on deck.

 Nope! Personal!

Hi BP friends! This might be a reach but are there any section 8 HVC Landlords in the Richmond or surrounding areas that would be open to connecting? My husband and I are local flippers.. soon to be Class A builders getting into buy and hold. We've read all the sec 8 materials we've been able to get our hands on but want to talk to someone with local experience (preferably through RRHA, HOME, etc.). TIA!

Thank you for your reply! All great info and ultimately we ended up doing a cash out refinance!