All Forum Posts by: Shango Collier

I've been part of Nate's Brrrr Invest Academy for five months. I now have a portfolio of six rentals and completed two fix-and-flips. I can tell you this academy is a real deal! The education and support are incredible, as are the resources and the community. I bought all of my properties remotely, following Nate's strategy.

So, do a land contract instead.

 @Jeremy Anan this is what I use https://www.fmbanknym.com/mortgage-balloon-payment-calculato...

 I actually have an amazing template for this that I got with my mentorship - I can send it to you if you'd like. 

Hello!

I just found another deal and am touring it with my agent shortly.

I was recently messaged by a representative of Easy Street Capital about DSCR lending. I was wondering if anyone else in the BP community has used this company for their investment lending.

I cannot achieve another low-money down loan until the end of 2024 when the seasoning period of my FHA loan runs out, so I'm looking for other alternatives.

Thank you for any help!

Yes, investment properties are taxed at 2% of assessed values, but often times this is less than homes in other markets. Zillow is usually the quickest way to get this information if you do not have local MLS access... just click on the pricing/tax history and it will give you the assessed value and tax bill. Figure your deals at 2% of the assessed value. If the assessed value is really low (this will be the case with very distressed properties or very distressed areas) you may want to figure the deal at 2% of 90% of ARV as the assessment will likely go up in the next year or two. While you will be saving money with the low tax bill for a year or two, ensure that the deal doesn't fall apart when the city adjusts the assessed value. For instance, I have a home that we rehabbed that was assessed at $11,000 but its ARV is about $125,000. The tax bill is ridiculously low, but I worked the numbers at a $100k assessment or $2,000/year to ensure that I was still hitting my criteria after the adjustment.

Hi Alvin,

That is what my company does. Feel free to call me or send me a message. I would be more than happy to see how we can assist.