All Forum Posts by: Taylor Ballam

Hi @Derek Caldwell.  Investor here from Logan Utah.  Welcome to BP & keep us posted!:)

@Joe Villeneuve  Nice!  & Just to clarify again, these "Equity Loans" are called simple an "equity loan" that you get strictly through a commercial lender or portfolio lender correct?

Thx!

@Brent Coombs  I knew I forgot an R:)  So far I've been able to make this process happen with one property but I had to wait 1 year to refinance.  I haven't asked around about equity loans though & will pound the pavement seeing what can really be done.  Thx all!

@Joe Villeneuve  Wow really interesting.  I'll start asking around and seeing what I can find.  Thx!!

@Jean G. I haven't talked to them and we have one in the area so I'll check it out!  

@Joe 

@Joe Villeneuve Would you mind explaining more?  What exactly is an Equity Loan / where would I start with researching that?  Do you pay a large amount of closing costs 2 do 2 closings so quickly?  Mind running any quick specific number scenarios past me?  Thx for the help!

I'm curious how soon people investing with the BRRR strategy (Buy, Rehab, refinance, repeat I believe?:) ) especially in Northern Utah, have been able to refinance? Has anyone been able to refinance quicker than 6 months? If so, with what banks & how did the process work? I'm also wondering if anyone has had success with commercial lenders that can ignore the 6 month to 1 year minimum I am running into?

Thanks @Tyler Williams.  Good thought.

@Tim Mellor  Thx for the reply!  I'll check out both of those banks, I hadn't talked to them yet!

@Christal Bowlby There were 2 HOA restrictions that we ran into I believe. #1 - Too many of the units are being used as rentals in the HOA community. #2 - Too many people are past due / late on their HOA fee's in the community.

This past week I've met with multiple financial planners pushing to sell me whole life insurance.  As I've listened to their pitches & worked on creating a well rounded portfolio I thought a lot about insurance to cover my properties in case I die / something crazy happens!  What are your strategies and thoughts on insuring your properties beyond basic homeowners insurance? 

2 Questions.

#1 - What program / website / automated service are you using to pay your investors?  Why are you using them?

#2 - Rent Collection.  What's your favorite online service & why?  If the tenant prefers to pay with check/cash are you flexible?