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All Forum Posts by: Roy Logan

Roy Logan has started 6 posts and replied 14 times.

Post: Is AN 800+ FICO CREDIT SCORE EVEN POSSIBLE?

Roy Logan
Pro Member
Posted
  • Rental Property Investor
  • MI
  • Posts 14
  • Votes 6
Quote from @Scott Trench:

I've got one. It takes about 10 years of never missing a payment, using light leverage relative to your income, and using a tiny fraction of your available credit card limits.


 Same - your reasonings to achieve are spot on!

Post: 3rd year Real Estate Investor / Landlord

Roy Logan
Pro Member
Posted
  • Rental Property Investor
  • MI
  • Posts 14
  • Votes 6

HI @Ezekiel Ayers - Yes - I am creating LLC's for each property. I also have set up a couple checking accounts for each property as well. I'll shoot you a message.

Post: BRRR _ Fulton Market Neighborhood

Roy Logan
Pro Member
Posted
  • Rental Property Investor
  • MI
  • Posts 14
  • Votes 6

Investment Info:

Single-family residence other investment.

Purchase price: $176,000

Have a signed PA and conditionally approved loan for single family residence in Fulton Market neighborhood!
Listed at $209,000 was able to negotiate down to $176,000.
Plan to total gut and give this old beauty a 2025 face lift!!

Post: Off Market - Oppurtunistic BRRR

Roy Logan
Pro Member
Posted
  • Rental Property Investor
  • MI
  • Posts 14
  • Votes 6

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $131,000
Cash invested: $41,000

Off market deal - Going in this project with an Opportunistic BRRR mind. Should be a fun project!

Photos to come

What made you interested in investing in this type of deal?

Price Point... Location... built in equity... layout

How did you find this deal and how did you negotiate it?

Discussions with network

How did you finance this deal?

30% down 30yr mortgage

How did you add value to the deal?

I will add value in the future after current tenant moves on.... with a complete reno

Post: Off Market - Opportunistic BRRR

Roy Logan
Pro Member
Posted
  • Rental Property Investor
  • MI
  • Posts 14
  • Votes 6
Quote from @Nicholas L.:

@Roy Logan

either

1. your own direct marketing to property owners, or 

2. through someone else (a wholesaler, another investor, your network, your uncle's neighbor who wants to sell their house and doesn't want to list it and tells your uncle)


 Hey Nicholas - Thanks for the reply! I haven't tried direct marketing... definitely makes sense. I used number 2. my neighbors neighbor need to sell house now. Just felt a bit lucky.

Post: Off Market - Opportunistic BRRR

Roy Logan
Pro Member
Posted
  • Rental Property Investor
  • MI
  • Posts 14
  • Votes 6

Maybe more so tactica used to find deals?

Post: Off Market - Opportunistic BRRR

Roy Logan
Pro Member
Posted
  • Rental Property Investor
  • MI
  • Posts 14
  • Votes 6

Closing soon on my first off Market deal.

Wondering from the community with more experience in off Market deals... Your most important tactic you follow when to you find a deal and want to secure it?

Post: BLRRM.... The Buy Live-in Renovate Rent Move-Out

Roy Logan
Pro Member
Posted
  • Rental Property Investor
  • MI
  • Posts 14
  • Votes 6

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $163,000
Cash invested: $90,000

Primary Residence... Currently living in this till the summer of 2025.

Post: Have you ever offered rent concessions to entice potential renters?

Roy Logan
Pro Member
Posted
  • Rental Property Investor
  • MI
  • Posts 14
  • Votes 6

I have a long term tenant that I offered concessions to around month 7. As a very small portfolio owner myself... I saw this as a way to avoid a potential month loss rent due to tenant vacancy. My tenant appreciated it and signed again. In the end my tenant received a reward for being respectful to my property and I am now have this unit locked until next year with a small dip is gross rev!. win win in my eyes.

Post: 3rd year Real Estate Investor / Landlord

Roy Logan
Pro Member
Posted
  • Rental Property Investor
  • MI
  • Posts 14
  • Votes 6
Hey Johnathan - I have not I'll have to look into that.

Thanks