All Forum Posts by: Tony Pellettieri

 Hopefully you're on Audible. If you're not currently listening to books educating yourself, I'd start today.

A few I'd highly recommend...

Buy, Rehab, Rent, Refinance, Repeat - The BRRRR Rental Property Investment Strategy Made Simple

FLIP - How to Find, Fix, and Sell Houses for Profit

The Book on Flipping Houses How to Buy, Rehab, and Resell Residential Properties

This book is not currently available on Audible but a must read

The Book on Estimating Rehab Costs - J Scott

 Just a community of investors that practice creative financing. Still learning just joined a few weeks ago and see the fault of my thought process early this morning. The coffee hadn’t finished brewing yet. 

 Joined the sub to community

More or less

Yes, still learning…

 Hey Alex,

Why are you putting such a large amount of money down when your intent is to just take it back out? There are costs associated with doing a HELOC.

If you WILL be living in the property for the first year, get a 5% down, or less, FHA/Conventional/203(k) loan for the purchase and keep more of your money in your pocket for future purchases, repairs, etc...

On the second property, use a private lender to fund the acquisition/repair costs if any, and refi out using a DSCR in 3-6 months.

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!