All Forum Posts by: Redgy Saint-Germain

@Skylar Vincent

There are tons of free coaching out there why pay for one? BP is an amazing community where you can get all the help you need, network with more experienced investors etc. In my experience most paid coaching will not teach you what you really need to learn. If you have some money to spare look for someone on BP with tons of experience in the field, take them out to lunch and spend a few days shadowing them. I believe that would be more valuable than a paid coach.

Good luck 

@Brian Washburn

Congratulations, way to go ! I use Cozy for my rentals, they are really good and "Free". They automatically post to Doorsteps.com and Realtor.com

@Dina Abbott

I dont see anything wrong with a tenant making " improvements " to add value to your property. I would however make sure you approve the work and its being done by a licensed contractor ( who can warranty the work)  and they sign a "lien waiver". You don't want them to call you to court  stating they've invested in your property and you refuse to pay them for their work. 

PS: If someone is willing to invest in your property it means they don't want to leave therefore a low vacancy risk to kill your cashflow. If they are good tenants I see no issues.

Good luck 

@Amanda Sokol

"It’s far better to buy a wonderful property at a fair price than a fair property at a wonderful price."

@Ari Newman 

No its not about tax savings. The biggest hurdle when it comes to refinance is " time". Most banks wont refinance your deal unless you've own it for 6+ months ( your money is also stuck in the deal also for 6 months). With delayed refinance you're able to refinance after 4 weeks and pull your money out therefore you can buy more properties in a short period of time to scale quickly. More properties equals more cashflow with the same 103k :)

@Susan H.

No I wouldnt, if the bank is not accepting it for your mortgage payments it's essentially a bad idea for you to accept it as your rent payment

@Account Closed  Yes it may but not by that much and your also building equity in the process. You don't want your money stuck in a deal unless you really have to. You can use that money on another deal and generate more cashflow 

@Ari Newman

Since you've bought the property cash why not use " delayed financing"  to pull all your money out plus the rehab costs and continue investing with the same money.

Your ARV according to your sheet is 175k and your LTV at a conservative 70% with the delayed financing would pull 122.5K out of the deal. You would essentially have your 103k plus 19.5k for the rehab just 500$ shy of your 20k. This is an INFINITE return on your money :) and you don't have to wait 7 months. I have attached the link below check it out

https://www.biggerpockets.com/blogs/5110/42824-all-about-delayed-financing

@Account Closed

Why use 20%, if you use the FMNA homestyle renovation loan you can save yourself 5% and only put down 15% , secondly your insurance is way too low and I would also factor in 5% vacancy ( not 10). 

Are the tenants paying for (water + electric) ?. 125$/month = 1500$/year and a 10% return on your money would be an "ok" deal if your numbers were right. Analyze a few more deals to get comfortable with the numbers before you pull the trigger.

Good luck