All Forum Posts by: Robb Werner

Hi Patrick,

You could also look into money market accounts. That is where I plan on putting my reserves. Good luck!

@Kevin Dean

This is exactly what I was lookong for. Thank you for such a detailed reply.

@Jill F.

Thanks, ill check that out

Hi Chris,

My first deal was very similar to the situation you're in. I found a house that needed a good amount of work, but I did all the work myself. I was fortunate enough to be able to get a conventional loan on the property and then take out a smaller loan to cover the rehab costs. I dont know if you could get that property to pass for conventional but in my experience, it worked great. 

If that doesn't work, private or hard money might be the answer, then get a conventional, or another loan after the rehab is done. 

Hope this helps and good luck!

Hello,

I was wondering how everyone stays up to date on the economy swings and changes. Podcasts, social media, the news? Where do you find your reliable information? Thanks and have a good weekend!

- Robb Werner

Hello Carlos,

To answer part of your first question, I believe most people use a set percentage for vacancy when running their numbers. I would think it varies from area to area. A more seasoned investor could answer this in more detail. Good luck with your purchase!

Congrats! That seems like a huge step from year to year, especially year 2 to year 3. I'm curious to hear how your mindset differed from year to year? I'm currently done with my first property and looking for my second, but I cant help but feel like I'm thinking too small. You have obviously unlocked that mindset and overachieved your goals, from what it sounds like. Again, congrats, and looking forward to hearing back.

Hello and welcome. I am somewhat new as well and have already learned so much. Good luck!

I use LVP in my current house that in living in, it works great. Carpet just gets so dirty so quickly. Or even regular laminate flooring. 

Good luck!

@Kyle Shankin

Congrats on a great deal! I think you'll be in great shape no matter what you decide to do. Good luck.