All Forum Posts by: Terell Brown

This is a great start to your real estate journey @Tyler Scruggs. Wishing you the best as you take on more risk!

Awesome, I've heard about Martel Turnkey but didn't know they allow you to get involved earlier in the process. I'll PM you.

Hi all, I invest remotely and I am looking to expand to other markets. Is anyone aware of what I would call turnkey BRRRR providers. What I mean by this is instead of the provider buying, renovating and flipping it as a turnkey with their own money they reach out to investors who will purchase the property upfront and fund the rehab meanwhile the provider charges a fee to scope out the work and manage the rehab. Open to providers in any market.

Yes I'd own the own the property. The purchase and rehab would be completed funded with my own cash.

Good point, it makes sense that COVID has tightened things up. 

Regarding using multiple lenders to spread the banks risk, what specific risks are you mitigating for? 

The small chance that the lender goes out of business or are mainly trying to create multiple relationships that you can tap into depending on the situation.

Good to know. If you happen to know of any portfolio lenders that offer 80% LTV let me know and I'll give them a call. Thanks

I called a couple lenders today to enquire about a cashout refinance on BRRRRR properties. This is specifically on a property that has been acquired, rehabbed, and rented in the span of 2 months. They are all telling me a max of 75% LTV. Is this just the baseline standard? Can I find lenders that will give me 80% LTV for this type of situation?

Hi all,
I currently invest in rental properties in Birmingham, Alabama. Birmingham is very steady market so I strictly invest for cashflow. I'm looking to add an appreciation play into my portfolio and I believe my competitive advantage is in Kitchener/Waterloo where I did my undergrad. Not to mention the USD to CAD conversion.

I'm strongly considering investing in a pre-construction condo or town home in the area. Ideally, the property will be complete in 2-4 years at which I'll just sound the contract and collect whatever appreciation occurred over that time. I don't plan on ever holding or mortgaging the property especially since it won't cashflow.

In my this sounds like a pretty straightforward play given the steady growth of the area's tech sector which I believe will actually be accelerated given a lot of tech companies are looking to open satelite offices in Canada due to the encouraging adoption of remote work, cheaper and abundant tech talent and uncertainty of american immigration causing a lot talent to move to Canada.

The biggest risk I see is whether or not the specific property I buy will be in demand in 3 years:

Who are the demographics that will actually be buying homes… not the 22-24 year old coming out of school and working at a tech companies but perhaps the late 20s to 30s folks who are settling with a partner and kids. Would they want a 1 bedroom condo with no parking? Maybe instead they'll want a 2-3 bedroom townhouse with a garage that is just outside the downtown core with a lot more space but still a short commute to work? Maybe people in this demographic actually just want to rent?

So my question is to folks that are familiar with the market, what demographic of people are buying in high amounts? What are they looking for? Are most folks looking to rent because I'll be looking to sell and don't want to get stuck holding.

Also any thought in general about pre-construction in Kitchener/Waterloo? Have you made a similar investment? Is it too speculative?

I'm specifically looking at Spur Line Commons (Phase 2) by Reid's Heritage Homes or perhaps Web Oaks Urban Towns

Thanks!

Terell