All Forum Posts by: Reid Bjorklund

Quote from @Ken Vesely:

Reid - I can do 90 day seasoning using the ARV if you have a mortgage on the property to be paid off. Doesn't sound like you have a mortgage on the property however?

Hey Ken, correct. I purchased the property using all cash. I should have mentioned that also. I appreciate your response though! 

Hello! I am reaching out to see if anyone has had luck finding a bank or HML that will do a cash out refinance at 100% of the cost (purchase price + rehab) or 75% or ARV with less than a 3 month seasoning period. Here are some additional details on the property I am looking to do a cash out refinance on:

- Single Family Home

-Purchased for $71,800, rehab total $18K, ARV ~$120K

-Purchased the property in early February and hoping to refinance pulling all my cost (~$90K) back out of the property

 I have read a handful of other forum posts on this topic and have already reached out to the following banks with no luck: Croghan Mortgage, First National Bank, First Fed Ohio, Park National Bank, First Ohio Home, Aloha Capital, RCD Capital, Freedom Capital Funding, Certain Lending, Albeca, MCNB Bank, Global Integrity.

I realize this seasoning requirement will fall out of traditional financing guidelines, but I am hoping a portfolio or commercial loan is possible. If anyone has any contacts they could provide I would really appreciate it!

Hello! I am looking to get my first buy and hold rental property in Cleveland. I got about $100K to work with and am hoping to BRRRR a couple deals this year then build from there. Does anyone have a good real estate agent or property manager they would recommend to a new investor? I have been doing some research on my own, but quite a few mention they aren't interested in working with new investors. Please let me know if you have any recommendations!

If you ever have to deal with other people at all (everyone). I highly recommend Dale Carnegie's book "How to Win Friends and Influence People" it is a cheap buy on Amazon and a quick read, but contains extremely valuable information for anyone starting out in business.

Hey BP community-

I have been listening to the podcasts and reading the forums for a couple months and decided now is a good time for my first post. I am hoping to get some career advice. After a year in public accounting I have decided to make a career change, currently i am trying to decide between an insurance wholesaler position and a job at an investment company that invests in real estate in a sales type role. I am torn because the insurance position pays significantly better which would help me acquire my own property faster. On the other hand I know working for the real estate fund could eventually lead to more adnvanced knowledge/relations in the real estate world. My investing goal is to work full time while acquiring as much real estate as I can unitl I either take on real estate full time, or if i happen to really like my job, find a partner or property manager to take over the day to day operations. Just curios what you guys think!

Hey BP community-

I have been listening to the podcasts and reading the forums for a couple months and decided now is a good time for my first post. I am hoping to get some career advice. After a year in public accounting I have decided to make a career change, currently i am trying to decide between an insurance wholesaler position and a job an a fund that invests in real estate as a sales type role. I am torn because the insurance position pays significantly better which would help me acquire my own property faster. On the other hand I know working for the real estate fund could eventually lead to more adnvanced knowledge/relations in the real estate world. My investing goal is to work full time while acquiring as much real estate as I can unitl I either take on real estate full time, or if i happen to really like my job, find a partner or property manager to take over the day to day operations. Just curios what you guys think!