All Forum Posts by: Piper Pepperidge

Anyone have any reliable property managers? Thanks.

I want to scale, but currently I can only afford to buy 1 (maybe 2) properties / year. I had considered BRRR-ing, but find that the mortgage after I pull the equity out will be too high to cash flow on. Even if I pull out just enough to cover the interest from the HML, the cashflow will still be very low on the properties I ran the numbers on so far. And I know cashflow isn't everything in the beginning an can come with time, but I don't want to acquire a bunch of properties where I'm only going to net 100 / mo after PITI, because with those margins all it takes is one repair to wipe everything.

 Yeah I figured it was lol

Haven't done any, but I wanted to choose somewhere with a 1hr commute radius so I can keep monitoring it.

Would prefer to do something closer to home so I can avoid having to get on a plane to monitor the deal. Is it smart to do it around here?

Looking to do my first flip, was originally looking at baltimore, but it looks like it's moving towards a buyer's market and inventory is very high so I'm looking for other hot neighbors with low inventory.

Thanks

 Ok I think I’ll stick with them

Hi, so I started with a buyers agent but I’m very efficient and finding the deals myself and also finding at times they’ll say they’ll ask the seller something but then text a few days later, “Just asked the seller [insert]. Hopefully they’ll get back to me today.” I understand they have other clients and cant just drop everything to do what I'm asking but right now it feels like things are taking extra time by having a middle man. Pretty much every listing agent I’ve contacted on my own has picked up immediately or called back within the hour so I’m wondering if I should just go without the buyers agent or to be patient.

Looking for 60-100k properties in FL and OH, have been able to find some lenders / brokers that will do the loan but even less who will do it and loan to LLC but finding through the quotes I receive that the add'l costs to close add 7k on top which I acknowledge are mostly fixed costs, so trying to see if there are lenders that will do lower down to make my all in costs lower, even if this might make interest rates higher. I know there's lenders like kiavi that will do 10% but this is also my first time buying a home so similar lenders will not fund. Some suggest a line of credit for home prices so low, but the APR makes this unsustainable if I'm paying off the loan in 10+ years, same with hard money lenders. Ive even looked into seller financing but find the terms are often more unfavorable than a mortgage. I understand this is a unique situation so if infeasible I'll just have to accept the 20% down, but also open to hearing any other solutions, advice etc…

Most lenders impose a minimum 100-150k lending amount, even less will go below the minimum and lend on an LLC. And 60-90k is also typically too low for dscr loans. Wondering if anyone knows any good places?