All Forum Posts by: Robert Proctor

Quote from @Chase Calhoun:

Just wrapped up a build-to-rent project on Wilson Road, and I’m excited to share how it turned out! We built two homes side by side on infill lots with a lot value of $20k each and hard construction costs of $196k (builder’s fee not included). Both homes are now rented on two-year leases at $2,175/month. We sold one for $257k in cash and are holding the other one as a rental.

I’m curious about others’ thoughts on build-to-rent (BTR) projects, especially on infill lots. Personally, I find BTRs to be more predictable with fewer ongoing maintenance issues, and they tend to attract high-quality tenants. On the flip side, the margins aren’t quite as high as with rehab projects. Has anyone else had similar experiences with BTRs? Would love to hear any insights!

 @Chase Calhoun Looks great! What is the flooring material?

 Yea it is! Yes me and my fiancé(getting married in April) have discussions on getting started in real estate almost on a daily basis. We have the same mindset and have a 5 year in place, minus figuring out the exact details on how we will do it! Just taking in as much info as possible and went to our first local real estate meetup last night, which is where I learned about the hard money lender. They informed us that they will help with the numbers and ensure the number work for us and them, so That could be a great option which I’m leaning towards. Just exploring options at this point and getting a team together. 

@Jaron Walling I bring up the current situation of the farm and animals to say that I plan on staying in the current property a while, but I would eventually just get rid of them once we planned on moving. Not staying on the property because of the animals, we are staying because it’s directly beside my parents and we plan on having kids soon, so grandparents close by would be extremely helpful, I should have worded that differently. And as with strategy, I’m looking to buy and hold mostly, and potentially flip some that may not cash flow as much.  As with shooting the current property in the foot, that’s why I’m asking for advice. 

I’ve got a question that hope I can get some guidance on. I currently have a loan on my current residence that runs a tad bit over 700 a month, with a 5 percent rate. With me currently looking to buy my first flip/ rental, would it be smart or not so smart to refinance since I would be going from 5% to 7%? I’d be pulling around 80-90k out, and have around 35-40k to add to buy a property. Or would it be better to go the route of using a hard money lender who will fund the whole deal, all I would need to do is find the deal, and fund the rehab? When I eventually rent my current property out (which will be a while since we have animals and a mini farm) I see no issue renting it for 14-1500 a month so cashflow on it after the refinance shouldn’t be an issue. 

That’s the answer I needed! Thank you! 

Hello everyone, this is my first post. I’ve been looking into investment properties for some time now, and my cousin actually has a home that I believe I could get for a deal. My question is, how do you go about doing so legally, and so that you don’t potentially get taken advantage of if you’re not using a realtor. She’s had this property for over 20 something years, and the last ten it has went without being messed with much, but it is right beside my home, and it shouldn’t take much to get it into decent shape. Thanks for any advice!