All Forum Posts by: Rudy Manna

Hi All, I am somewhat of an experienced investor. Have done few dozens of value added Buy-hold residential. Will like to get started in Atalanta, Georgia market. What will be the best way to find a local, Investment knowledgeable agents? Thoughts?

Also, what are your thoughts about the City? Any particular area good for long term buy-and-hold?

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Originally posted by @Aaron Nelson:

Just helped a couple of investors find BRRRR properties in Tacoma earlier this year. Think they had like $30K left in the deal after all was said and done (roughly a third of what they would have had if they purchased normally).

Still think there are opportunities in the market, but it depends on what you're looking for.

Good to know that BRRRR is still working..how is the rental cash flow? Did they achieve cash flow neutral after Property management & maintenance?

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Getting ready for putting offers on larger multi-families. Have a number of templates. I do have a few specific questions hoping the experts can help:

- Does it help to include a detailed about us and a portfolio overview. Do have substantial experience & portfolio of SFR, Small Multis and property mgmt.

- Does it help to include a lenders intent to lend letter ( or any other letter from lender?).

- Proof of fund - Is it usually 25%-30% of Purchase price with bank statement?

Thanks in advance

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+1 for the exemplary commitment..be safe

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Originally posted by @Aaron K.:

Generally just a bank statement, usually the seller's agent wants to see the name of the person or entity making the offer on the account.

so i can show the bank statement for 25% of down payment. Do I need the another letter from the lender for the remaining 75%? What is that letter called? Just learned that banks dont do pre-approval for apartments similar to sfr s

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Look for guidance from regarding POF. Have done lots of Buy&Hold SFR, but planning to get into apartments. Need some guidance on POF.

- Is POF just a bank statement or letter from Bank?

- How shall we go about doing POF if we want to combine multiple accounts from 2-3 partners. Will a bank statement be enough?

- is there a way I can include wifes bank funds in the POF even though only of us might be in the offer?

TIA

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On another note - how do you compare Memphis versus Brimingham in terms of growth potential and gentrification.

Originally posted by @James Wise:

Originally posted by @Rudy Manna:

Originally posted by @James Wise:

Originally posted by @Matt Everling:

@James Wise I love those deep dive maps. Happen to have one for Montgomery?

Negative. Do have one for Cleveland, Ohio and am currently working on one for Indianapolis, Indiana and Memphis Tennessee.

Do you have the one for Memphis Tennessee?

Currently working on the Memphis guide.

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Originally posted by @James Wise:

Originally posted by @Matt Everling:

@James Wise I love those deep dive maps. Happen to have one for Montgomery?

Negative. Do have one for Cleveland, Ohio and am currently working on one for Indianapolis, Indiana and Memphis Tennessee.

Do you have the one for Memphis Tennessee?

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Originally posted by @John P.:

Good stuff happening in Memphis for sure! The future is bright!

Any more details on the good stuff? Love to learn

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What are the best cities for doing BRRRR in 2020? We did in Seattle, Tacoma and Durham, NC - but now price points are somewhat higher to make it work in those areas.

What Cities are you focusing now? Especially where you can make the model work with somewhat lipstick renovation, $15/$20 per sqft - without getting into the gut-out domain.

@Pradeep Tiwari

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All Forum Posts by: Rudy Manna

Rudy Manna has started 86 posts and replied 259 times.

Post: Looking to get started in Atlanta

Post: BRRRR Cities in 2020

Post: What goes into Multifamily LOI

Post: Heading to Afghanistan to fund my BRRRRs

Post: need guidance on POF

Post: need guidance on POF

Post: Investing In Alabama - Montgomery versus Birmingham

Post: Investing In Alabama - Montgomery versus Birmingham

Post: Indianapolis Vs. Memphis: Rental Market Showdown

Post: BRRRR Cities in 2020