All Forum Posts by: Niki Lee

@Winston Clinton Thanks for your response! Yes, please let me know how your friend's experience goes. I will send you a colleague request so we can stay in touch in order to "piggyback to success". 

@Scott Le

 You mentioned your RE mentor co-owns a subcontracting firm. What is the name of his company? How did you end up finding him (if you don't mind me asking)?

Welcome to BP, @Diante Lawrence !

What types of real estate investments are you interested in pursuing? 

@Mike O. 

After reading your post, a few questions came to mind.

1) Is there a specific reason why you prefer townhouses over SFH? From what I have researched and heard on BP, townhomes seem to more likely than not have HOA fees associated with them. If you purchased SFH (with no HOA fees), then you would have that extra $150-$200/mo from HOA fees to go to increase your cash flow, save for repairs, etc.

2) Have you considered using some of the excess money (current going to pay down the mortgage) and putting it into an account for each property to cover repairs and eventual replacement of items? Obviously I don't know the state of your present properties. But, if part of your idea is for each property to be self sustaining, this might be something to consider.

3) Why did you use $180K in cash to outright pay off the 2nd rental in full? Was the plan to always use this 2nd property as a rental or did it turn into a rental? I ask these questions since I am confused as to why you put down $180k into the property and are now trying to take out $100k through a refi.

4) Besides your "10 properties free & clear in 10 years" goal, why are you choosing to pay down the properties with your own money in lieu of OPM? IMHO, if I was going to want to essentially quit my job in 10 years, I would want to secure keep some of my funds liquid to safeguard my family, as well as, ensure that I was able to successfully manage all of my properties without the need to reenter the workforce.

Hope this questions help us better assist you in realizing your dream! :)

Hi @Christelle Joseph ! 

I am based in the New Tampa/Wesley Chapel area. Maybe we could be a good resource for the other. Message me if you are interested in connecting further! :)

Thanks for the warm welcome, @Chaz Reid!

"If you want something you've never had, you've got to do something you've never done." - J.D. Houston

That quote helps me in articulating why I want to spend my life involved with REI and why I am on BP. I want a life of financial independence and wealth.

So I am ready to start my journey in the fix & flip, as well as, the rental aspects of REI.

Having been a resident of both the Orlando and the New Tampa/Wesley Chapel areas, over the past 7 years, I have witnessed the growth and the potential that these markets have to offer. 

Therefore, these are my REI goals :

• Students rentals near the University of Central Florida (East Orlando)
• Vacation rentals in the Disney/Universal areas (Kissimmee/ 
• Fix & flip properties in New Tampa/Wesley Chapel

"[W]hen you want something, all the universe conspires in helping you to achieve it." - Paulo Coelho

Basically I would love the connect with individuals who are seeking to be a part of my REI "Dream Team". As previously mentioned I am just starting out so any connections or advice would be greatly appreciated!

Thanks in advance! Look forward to meeting fellow BP members!

I am a new investor.

My investing partner and I are looking to do our first deal with no money down through my LLC. We need a hard money lender that will give us funding for the initial purchase and rehab, so we will need a ARV loan.

It seems as though these 2 lenders fit the bill. But, I am seeking any additional information and/or first hand experience that anyone could share about either Angel Oak Prime Bridge or DoHardMoney. Thanks in advance!