All Forum Posts by: Ronald Logan

Folks- I seem to be in a situation where I cannot make sense of this yet I am sure there is a simple explanation which I am clearly overlooking.

When using the BRRRR or Rent Analysis Tools, if I am using a money partner &/or HML to acquire a given property, how does this get input into the "Purchase loan details"?

Do I put in "Cash"

OR

0% down, then

Loan rates at 10% (using this as an example for partner)

5 points (Points for HML, (Again as an example))

Interest Only

OR Other?

I figured for a BRRRR I would place in the holding cost for rehab in the Repairs section

I hope this makes sense..

Please help as this is driving me crazy and I cannot seem to make the numbers work, even when using ridiculous small numbers.

Hi Jaysen, Thanks for your time. I will confirm the Insurance and taxes. And certainly up the management fee to 10-12% and the vacancy to 8%. Rents do appear to be too low. Perhaps I should change my target to more of a 3 bedroom/2 bath vs. 2/1. 

Thanks again for your input.

Ron 

Sorry folks- here is the commentary that I would like to add: My intention is to generate passive income and build a portfolio. The Refi would only be to cover the original. However the CoC looks real good and this is where I cannot understand whether this is something worth pursuing. Please let me know if you feel as though I am missing something. Thanks in advance.

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Hi Folks- I have a question related to pre approved funding. 

Where would I get pre approved funding if I am going to be using Hard Money &/or Private funding. 

I am not sure if I would personally be able to obtain pre approval funding from the traditional institutions.

Any thoughts on this would be a significant help as I cannot seem to move away from this topic.

Thanks in Advance,

Ron 

Thanks Wayne. I appreciate your response and knowledge. I believe I need to adjust my approach as you have pointed out.

Many Thanks

Ron

Hello Folks-

I have a question that I am not sure if there is a simple solution or if I need to go thru a long process.

I have submitted an offer for an REO and they are asking for Pre-qualification information.

The challenge I have is that I plan on using either Hard Money and a money partner (Private Investor) or straight out a, money partner. I have not approached any money partners about the specific deal because I was going to wait for an offer to be accepted. I do have some folks that have indicated interest predicated upon  the deal.

I guess my ultimate question is: "how can I obtain Pre-qualification information to move along with my offer?"

Any assistance would be greatly appreciated.

Thanks In advance,

Ron Logan

Excellent, Thank you Dan and Caten for creating this event.

It was also a real good session on Wednesday. There was great dialog about many different types of strategies and we met a lot of folks for the 1st time. Great session in my opinion.

I look forward to the next one on 9/19.  

Ron

Hi Folks-

As Beverly pointed out we had a great meeting last Wednesday (7/11). We had a lot of conversation and Networking going on and before we knew it, it was about 8:30. 

We plan on holding another meeting on Wednesday 8/8 beginning at 6:30 PM (same location) however if you are running late, no need to worry as we pretty much get going closer to 7. 

Hope all can make it. Would love to have a great presence and really get things going here in this area.

As always, let me know if you have any questions. Otherwise I hope to see you all on the 8th.

Thanks,

Ronald Logan

OK Folks- It sounds like there are enough of us to perhaps start something here in Mooresville. I do know of the many that are in Charlotte and even the one in Lake Norman (Northlake) however I would love to get something going right here in Mooresville.

I will be putting something together and work to begin this group. Once the logistics are worked out, I will communicate with the appropriate information. Then off we go. It shouldn't be more than a few days.

Any questions, thoughts etc., please feel free to reach out.

Thanks

Ron