All Forum Posts by: Ryan O'Connor

@David Broughton

David, great to see a local chiming in and hope you have a successful 2021! Let me know if there is anything I can help with!

Ryan,

@Philip L.

The bank determines the rate increase at that time, and believe it’s capped at a 2% increase every 5 years. It’s a local bank I’m going through for this particular deal, and I know of at least one local credit union I can go through as well.

@Michael List

Ryan here in Lafayette, IN. Invest here locally and would love to connect. Let’s chat sometime!

@Philip L.

Philip, it’s a pretty common strategy. We’re about to start the cash out refi process on a single family brrrr...commercial loan in our llc and should be around 4-4.25%...5 year arm and 20 year amortization. Good luck!

@Joseph Parker

Joseph, I’m about an hour away from you in Lafayette and we’ve considered investing in the the Kokomo area. We should chat sometime soon!

@Ryan Copeland

Way to take action! Getting that first deal under your belt is such a huge step...a step that many many people fail to take and never get started. Congrats sir!

Sorry misunderstood and thought you were based in Bloomington!

@Natalie Allen

Hi Natalie! I’m an investor a few hours north of you in Lafayette. Focus on anything in this market?

@Corey Ogle

The time it takes from start to finish will vary greatly depending on how much work the property needs, how much of a priority your project is with contractors, how your buyer is financing the deal, etc. We are wrapping up a rehab in the next week or so, and it was a full gut, and we’re going to have almost 5 months in it after the refi.

@Lindel Smith

We’ve looked into self directed ira’s, and it’s an interesting strategy. There are quite a few limitations to it from what we’ve read, but it’s a great way to supercharge growth in retirement accounts if you do it the right way. We’ve gone from 0 to 5 doors since January 2020, which is more than we anticipated getting this year, but we took the “dive in” approach and bought two homes right out of the gate and haven’t looked back.