All Forum Posts by: Patrick Zepeda

 That is correct. That is why Im looking at doing the whole deal cash only, since financing would bring high carry costs.

 Funny because that is the exact lot I was looking at. In the woods, on the way to Mt Bachelor... perfect location. I guess that is why its expensive. Also, a teardown means even more costs so... But thank you for the expertise!!

I am wanting to start investing in STR acquiring or developing the real estate. I think Bend is a top place for STR as there is multi-seasonal demand and is a city with a lot of growth. Problem here is, apart from the zoning restrictions of STR, purchasing a property is extremely expensive. Day dreaming here, but purchasing land in the Deschutes River Woods / South Bend and developing a cabin with plenty of outdoor amenities would be - a dream. However, land costs are crazy, most lots are going for no less than $400k. So, my question here is, what has been the best way to enter the market? And does anybody have an idea of what the PSF development cost is?

Thank you!!!

Have been looking for a good GC for flips and possibly developments. Most of the ones I have talked to are either months behind. Looking for something professional and high-quality but reasonably expensive.  

Hey all!

I am looking at a property and need an honest, professional general contractor in Fort Worth to give me an estimate and, hopefully, work on the property.

Let me know if you have any recommendations!

Thank you all! @Tony Severance @Brandon Beardt

@Dan Gandee I'll send you a message. I'm up in Portland trying to make this happen...

@Remington Lyman I actually work with one of your co-workers haha JJ?

Hi all!

I have been looking at properties (BRRRR and rentals) in Ohio, and want to finance / refinance with a DSCR loan as I ionly want to invest as an LLC. Problem here is, DSCR loans have a minimum loan amount of $100k, and most of these properties are sub $100k with 75% LTV. How do you all finance long term loans for these kind of properties?

Thank you!

Hi All!

I have an attractive deal come across my desk and want to get more info on the development process, entitlement and design aspect of the project. Also, willing to partner up! Give me a shout.

Thanks

Appreciate the thoughtful answers! Looks like I'm not being too conservative, the market is just going through the end of a cycle.

Thanks! @Allan Smith @Hunter Purnell @Shane Kelly

Hi All!

I am having a hard time finding deals that make sense. I know most BRRRRs won't pencil upon refinancing because of the high interest rates, but I also wanted to make sure I am not overestimating the expenses that crush my RoC and CoC. See below an example of a pro forma:

Rent

$1,200 /Mo

Expenses

- Vacancy Allowance: $60 / Mo (5%)

- Property Taxes: $99 / Mo (from County's Tax Assessor)

- Insurance: $83 / Mo (Avg policy $1,000 per year)

- Property Management: $120 / Mo (10%)

- Repairs & Maintenance Reserve: $96 / Mo (8%)

- CapEx Reserve: $96 / Mo (8%)

NOI

$646 (54% of NOI / Expenses represent 46% of NOI)

Mortgage Payments

$590 / Mo (70% LTV, $80.5K loan amount, 30 year am, 8% interest)

Net Cash Flow

$55 / Mo

Even deals that comply with the 2% rule still don't pencil. Any feedback on how you model your pro formas? Am I being too conservative on the reserve accounts?

Thank you!!