All Forum Posts by: Jonathan Pflueger

@Layla Pomper

I am interested ClickUp - been looking into it for a week or so and it seems promising. I do not have a team but I really need something that allows me to track my projects in a more dynamic way than just an excellent sheet or Trello. I sent you a DM. 

@Joe S.

Maybe there is a reason he knows the property with qualify for conventional financing. Just like any property do your due diligence and go from there.

@Michael Ramos

What "fully renovated, managed turnkey Real Estate consulting firm" are you going to use that "cashflow's amazingly with a great ROI"? Do you know this because you have worked with and already accomplished this with this company? I love your enthusiasm and confidence, they are hallmarks of a good investor and yet, they are also qualities that tend to blind us before we even start.

@Jonathan Greene is not trying to discourage you, he is offering you wisdom from a long experienced career where he has met many people with your same leanings. I would bet he has seen some become successful and many more fail. A wise man fist learns from the mistakes of others and limits those he makes himself.

I think your “partnership” idea has more merit in that you are using a turnkey company (although I am skeptical of the type of returns you are expecting). The turnkey company helps with your lack of experience (and no, “building” landlords or owning your own home, while valuable experience, is not the same as pure investing experience) but does not eliminate the need to add some built in protection to your investors (family) in the form of collateral. This is especially important if you want to maintain your familial relationships and enjoy a longe and prosperous investing career.

My advice would be to create a partnership like @Evan Polaski mentioned or at the very least put your family on title, take a smaller portion of the equity pie and give that to your investors (family) to show them you value their money and risk, and look at this potential deal as a oppurtunity to build relationships that you can build the rest of your investing career off of.

Best of luck.

@Dan Sundberg

I might be willing to trade a higher interest rate for a favorable cash-out refinance - all depends on my numbers. I would be more willing to do this if I was able to put that cash out money to work right away. I don't care about interest rates as long as my numbers work and I am within my investing criteria. Interests rates will go up and down, in the future you may be able to refinance into a lower rate when values have gone up. If the values have gone down, no big deal because the deal still pencils and you hold. Win, win!

@Dan Sundberg

This is very interesting and could be a work around to the ADU issues surrounding appraisals - specifically properties with multiple units. I am always wary when lenders give me good information, especially if it sounds too good to be true, been burned too many times. Would love to hear how this turns out during the process and final results.

One of the things I love most about investors is their willingness to think outside the box and always ask questions. My dad always told me "the answer is always no unless you ask," this appears to be a prime example of this. 

Best of luck and love the creativity. 

@Ari Hadar

Who cares about the garages and parking if the numbers are good! It’s all about the numbers. Anyplace will rent and quick for the right amount.

Know your criteria like the back of your hand and stick to it. Just deduct from the offer price until you are satisfied and if the offer is not accepted you still win. An accepted offer on a bad deal is a dud through and through.

@Andy Bailey

Awesome, I love it! Your VA loan wouldn't cover both duplexes, only the one you owner occupied?

Keep it up, excited for ya!

@Alejandro F.

Just had an appraisal completed for a refinance about 3 months ago for our primary residence and the appraiser added $100k in value for the detached 800 sqft ADU. This may seem high compared to other posts here, but it would cost me about $250k to rebuild the same one today. Point is, ADU appraisals are way behind when it comes to accurate valuation.

Like @Dan H. said, buying a property with an ADU already built is quite the little value bump.

@Jameson Gowin

This is a common strategy - an even more common strategy is getting a HELOC on a primary home. If the numbers on the LOC make sense for your criteria it is a great option to free up cash without giving up your investment. A cash out refinance may also be a good option with the low rates right now, you may even be able to drop your rate low enough as to offset the additional debt.

Bottom line, the more funds you have available the more options you will have. 

@Sawyer Smith

During a renovation on a multi-family we have in the San Lorenzo Valley, Boulder creek we found a huge pornography collection in the attic. I'm talking magazines on top of magazines from all genres dating back to the 60's. Later on we found out that the attic was only part of the collection, when the owner had passed the seller had cleared out a full garage and two other units full of it - guess they missed the attic. Some people said the collection could be worth some money and we should try and sell it, we opted to dispose of it at the dump in black trash bags. One of those "if the walls could talk" situations and I wanted nothing to do with it.