All Forum Posts by: Tony Pellettieri

Hey Alex,

We recently joined SubTo. It had a, what some may call, high entry fee in itself.

Private lenders as you probably already know lend on/against assets, opposed to your DTI, etc. You may find it difficult to obtain financing from private lenders due to the fact when utilizing SubTo, you don't actually hold title to the asset. Not saying with the proper structuring it can't be done, but there are usually more effective ways. Lender's typically offer the best terms when they can secure a senior/first position lien.

It may be more beneficial to find a partner, instead of a lender, who can help fund your acquisitions. A partner can bring valuable insight and creativity to a deal and help you see opportunities you may not have identified on your own.

Have you done any SubTo deals yet, or will this be your first?

 Hey TK, welcome to BP!

Glad to hear things are going well...

Learning can stimulate tremendous growth in a very short period of time depending on how you use what you learn.

One thing I'd highly recommend doing, if you haven't started doing so already, Is to download audible and start listening to books on the areas in which you're looking to learn/invest.

BP has published many very valuable books on many different subject including BRRRR, investing with little/no money down, estimating rehab costs, property management... to name just a few.

This is a journey, not a sprint, so take your time, adjust to being in it for the long term, and FOCUS!

Good Luck!

 Hey Felicia,

Now is a great time to get back into the game, and you're fortunate there just so happens to be many opportunities in your back yard, more so in the areas surrounding Charlotte as the city has become so competitive...

A solid lender will help you take your business further than you ever could by yourself using just your own cash.

While you're able to derive tremendous value from the service they can offer your business, there is a cost associated...

In our experience, the better the deal, the lower the cost of entry. Most lenders do have similar processes.

Most of the people who will advertise their services to you here on BP are brokers for direct lenders.

Most of the Brokers on here charge an arm and a leg for their services which is the reason why, initially, I did not utilize private lending.

I'd be happy to recommend the Broker we use who is great at what he does and is very reasonable when it comes to the commission he adds for his services.

We do a lot of investing just outside of Charlotte in the York, Chester, and Lancaster Counties. If you need any referrals for members of your team, or any help otherwise, let me know as I'd be happy to recommend just about any one of the rockstar members we have on our team.

Good Luck!

Hey Hunter,

We decided to scale a month after starting our business. We BRRRR our properties to add as much value as possible, pull out all of our cash and then some utilizing DSCR loans after 3 months seasoning, and reinvest immediately thereafter in other properties.

At first we were using all of our own cash until we found a Rockstar Broker for Private Lending who didn't bend us over the barrel. This positioned us from doing 1-2 acquisitions a months to having the ability to put as many deals under contract as we could find. Happy to share that contact with you.

Having money and good credit is something I had when we started and it was very helpful in obtaining the initial capital we used to fuel our growth getting started.

We are shooting for 100+ properties by the end of the year. Momentum is the name of the game!

As I'm sure you've gathered, it takes a team...

To address finding the highest COC returns... Why not shoot for an infinite return? High is overrated.

If you have any additional questions, reach out to me directly.

Good Luck!

Hey Sean,

As I'm sure you've gathered, a Rockstar GC can be one of the most valuable, and equally, one of the most difficult members of your team to find when you're getting started. We practice the BRRRR model of investing and are operating just south of Charlotte in SC.

A great place to network and possibly find a good contractor may be local REIA meetups. There's a good one I used to attend Tuesday Mornings 8AM in Matthews at Jonathans Restaurant. There are quite a few investors who attend that meeting and usually a few contractors.

If you need any other referrals for your team let me know. the people on our team are great at what they do.

We use a PM for all of our rentals. I'd highly recommend Julie Vanslambrook with First Properties of the Carolinas, Inc. She has MANY years of experience in the industry in the area and is VERY reasonably priced.

Good Luck!

@Joseph R Hudson

It's always conflicting when I ask for referrals and get people who, either directly or indirectly, recommend themselves. Usually a conflict of interested involved there as most people would happily recommend themselves for obvious reasons.

If you're looking for a knowledgable CPA, I use Jeff Miller out of Raleigh, NC. Location for this profession is not important as all work can be done remotely.

Jeff Miller - Jeff Miller Tax - 910-409-6441 [email protected]

Once you grow, I would also recommend a Book Keeper by the name of Jake Baker I met here on bigger pockets. He's very much involved in real estate investing.

Jake Baker - BookKeepingRE - 619-777-6649 [email protected]

If you need any other referrals in/out of the area let me know. Happy to refer anyone on my team who may be able to benefit from the value they can add to your business.

Due to all the crap going on in NC right now with tenants, I would definitely have a half way decent lease contract in place. More important though is properly screening your tenants you let into your rentals. Getting them in is easy, getting them out can be not so easy. Proper Property Mgmt is Key. Though it consumes some cash flow, and whether that's your primary focus or not, It makes life much more hassle free.

 Congratulations on your first deal. A Great GC will get you to the finish line. If you have any questions or need any referrals in the area let me know. We do the same thing on a larger scale just south of Charlotte. Happy to help however we can.

Good Luck!