All Forum Posts by: Pat Heidingsfelder

Hey @Ashley Jaynes! I'm over in Biloxi, happy to meet with you anytime! I'd love to hear more about managing the campground. That's something I could see doing in the future. I've been investing on the Coast for about 7-8 years and happy to help. You should definitely come to the local REIA meetings.

Let me know how I can help 

Hey @Bryan Adams congratulations on getting started! Where are you located and where are you buying?

I hate to hear that @Deepak Malhotra. I do know my usual banker has moved from the commercial side to residential. Things may have gotten lost in the shuffle. 

@Kerry Baird I'm not sure the specific DTI or metrics they use for the LOC, but they seem to be pretty open to working on creative options to get the deals done.

This is more of a commercial product I mentioned. It has to be renewed annually which has been a pain.

Welcome to BP! This is such a great place to learn and meet people. We're just over in Biloxi so hit me up if you have any questions!

As Nicholas said, get your agent to pull some comps in the area and check the finishes, etc. You'll want to push that appraisal up if you want to get the most cash out. See if you can hit up a few open houses while you're at it. Don't forget to look at the rental comps as well, closed and available to see what your 'competition' is up to.

I always go for a mixture of tough/durable and nice fixtures in my BRRRRs. For example, I only use SmartCore Ultra LVP flooring. I've found that it goes down easiest and lasts a long time with tenants. I'd suggest pricing out quartz counters instead of granite. I've got a great supplier/installer here on the Coast.

I'm not familiar with the Magee market, but a quick MLS search shows no active rentals on market in town.

I've learned the hard way on the BRRRRs, if you go ahead and do everything (within a reasonable budget) Roof, HVAC, windows, kitchen bathrooms, you'll save yourself time/money down the road.

Good Luck! It gets addictive! After a solid 6 month intensive full rehab and pulling all the cash invested out I like to tell my wife 'Hey look at all the free passive income we have!' (There's nothing passive about managing the rehab!)

 Buildium was honestly difficult to get along with for a while. There's a learning curve to figure out what where to find things.

I think the most useful is keeping everything in the same place. Feel free to hit me up, I'm no pro but I've been using it for about 5 years.

I would look into Buildium sooner than later. I started using it with just a couple properties and am just over 100 now. There are a few cool features that would help you out. For each property you can split the owner payouts to multiple owners by percentage. Might come in handy in your situation. 

 Hey @Michael Bright! 
I’m a local real estate investor, broker and property manager in Biloxi! Always looking to connect and help new investors. 
Shoot me a message and let’s connect!

 What part of MS are you looking to get started? I invest on the Coast.

Yep that's the best number to reach me. Thanks!