All Forum Posts by: Johnny Lynum

@Clint Shelley the plan right now is to list for $156k.

@Joey Sostheim thanks bro! Yea, it's definitely a solid market with reasonable home prices for the most part.

@Chris Tarpey thanks!

@Sean Lasher definitely read your contract. Once you understand your ability to terminate, I recommend interviewing a couple recommended PM companies. They should be able to talk directly to your old PM company and make the transition pretty seamless. I have had to do this once before while living out of state.

@Fran Dixon no problem! Take a look at my YouTube channel that I launched last month. I have a couple videos discussing how to get started in real estate investing and some of the strategies I use in my business! Don't hesitate reaching out if I can be of any assistance!

https://youtube.com/user/wingman2325

@Matthew H. The hard money loan is separate product and you pay closing cost on both. However, the credit union closing costs are straight forward and not excessive. The credit union product is a cash out refinance loan and it can be leveraged with a portfolio if you have more than 1 property. The only requirement is that your LLC has to be the owner and on title, which keeps it from your personal credit report too.

It's definitely challenging to find good deals in a market like Austin, but keep the faith! Keep building your network there with other local investors and actively looking. Taking action and doing your analysis are critical to success!

Make sure you take a look at my YouTube channel I launched last month. I talk about some of the rules of thumb that I have used in my business and the keys to getting started! Dont hesitate reaching out if I can help out all! Best wishes!

https://youtube.com/user/wingman2325

@Account Closed I see you are from Austin, TX. My mom is from Bastrop, TX! You're in a great market with all the new tech jobs headed there!

@Account Closed I leverage both hard money and private investor capital for my BRRRRs. The rates are usually between 6%-9.5% rate and term ranges from 6-12 months. If I come in less than 70% of After Repair Value then I would only cover closing cost and make monthly interest only payments (Hard money). Private capital interest is usually accrued and paid at the end of the term with principal. I refinance out at 80% LTV with my local credit union.

@Sean L. Oh yea!! Every day is a day to become wiser!

I have done a few BRRRRs over the last few years and rented/sold personal residences with my Air Force relocations. If you can secure a low interest rate loan for your BRRRR then I say leverage the debt. This will keep your personal capital freed up to invest in other opportunities (hopefully with a higher return than your loan interest rate). Best wishes!