All Forum Posts by: Sam Leung

Originally posted by @Kaustubh Johri:

Have you checked with Baker Collins ?

I have not, but I will check them out. at first look, it seems like they are more for short term private or hard money loans. i am looking for more of a cash out refi, but I am open to other ideas as well. Thank you!

Hi BP!

I've searched the forums, and I have not been able to find good information, so I am just reaching out to see if anyone on here has any recommendations.

I am an out of state investor and currently have 9 doors in the Atlanta metro area across 6 properties. The lender that we've been working worth is now giving us a hard time after they've been acquired by a larger bank, so it seems like an impossible uphill battle working with them. I am looking for some other options to complete a BRRR deal. The property has already been seasoned, and we should have no problems qualifying for any loans based on income/credit score/experience.

We are looking for a bank that would cash us out so we can move on to the next deal. Are there any Atlanta investors out there that have had luck with any local lenders? Any other interesting financing options/recommendations are welcome as well. 

Thanks in advance!

Thanks... that was my feeling as well, but I needed some validation.

Hi Bigger Pockets, I am here for some advice and to see what you would do in this situation... I was in escrow and during DD, one of the tenants (multi unit) ran their mouth off to the potential buyer and the agent about a super minor maintenance issue that we already said we would repair. Long story short, the buyer backed out because the tenant made a WAY bigger deal out of it than it is. It’s about a $100 repair... Any advice would be appreciated. Thank you, Sam

No worries @Darrell Noe. @Mike O'Connor is a great dude. He can certainly help

Hey Darell, I am an out of state investor and have been working with Mike O'Connor . He is great and is an investor himself. He has helped me and my partners acquire multiple SFHs (buy and hold), but we have also considered some BRRRR properties. He's a super chill guy and can probably help with your goals. Very knowledgeable.

Hey Dan Schwartz - being happy with your property manager is a mindset :) These guys are good at collecting money and sending me the rents. I would never use them for any big fixes as they are pricey. I have a trusted contractor that I turn to for that.

This is a duplicate post... the iphone app crashed when I hit post and I thought it didn't get posted, but it did... Sorry. Please see my other post. Thanks!

Hi Bigger Pockets, I am considering my four unit that I've owned since 2007. It's had its ups and downs, but has been a great learning experience for me. It's been professionally managed since I've owned it (I am an out of state investor). I am in the process of vetting realtors to see who I would want to list it for. I've sold my own personal residences before, but never one of my investment properties. Is there anything I should be thinking about when deciding who to go with? I talked to a guy today that wanted to pull comps, but I know from experience that there are not a lot of comps in the area. Four 1/1 units and I'm getting gross rents of $1965. It's fully occupied with 3 active leases and one tenant that just turned into month-to-month. Two of the units are under rented by at least $50 if not $100, but those two units could use a refresh. The other two units are newly remodeled. New roof in 2014 with 30yr warranty and one unit has a new AC unit in 2017. Other AC units are in perfect working order. Is there a way to appropriately price this property? It's in the Sunnyslope area of Phoenix located right behind a large strip mall. Any advice would be appreciated. Thank you Sam

Hi Bigger Pockets, I am considering my four unit that I've owned since 2007. It's had its ups and downs, but has been a great learning experience for me. It's been professionally managed since I've owned it (I am an out of state investor). I am in the process of vetting realtors to see who I would want to list it for. I've sold my own personal residences before, but never one of my investment properties. Is there anything I should be thinking about when deciding who to go with? I talked to a guy today that wanted to pull comps, but I know from experience that there are not a lot of comps in the area. Four 1/1 units and I'm getting gross rents of $1965. It's fully occupied with 3 active leases and one tenant that just turned into month-to-month. Two of the units are under rented by at least $50 if not $100, but those two units could use a refresh. The other two units are newly remodeled. New roof in 2014 with 30yr warranty and one unit has a new AC unit in 2017. Other AC units are in perfect working order. Is there a way to appropriately price this property? It's in the Sunnyslope area of Phoenix located right behind a large strip mall. Any advice would be appreciated. Thank you, Sam