All Forum Posts by: Todd Rasmussen

@Addison Amorosi

We like Stessa for finances, a property manager does the rest for us. Welcome to the grind.

@Kiraat Boukhari

Having enough experience in the market to know what that type of house will look like when you can access is the biggest advantage. You can drive by and see obvious structural concerns, but really the name of the game at foreclosure auction is get it cheap enough that you have significant contingency allowances. Any estimate you come up with is just a wild guess until you get inside the property.

@Matt Sledge

Not personally, but these two were recommended at a meet up in the area.

John Coughlin 727-458-4776

Rick 727-804-5785

@James Bailey

Start increasing the rent, if they move, rehab and increase to market rent. If they don't move, stop when you get close enough to market rate that the difference isn't worth rehab.

@Kyle Scott

Spoiler alert: They are not. :)

I don't have a calculator but here's my napkin math:

ARV x 80% - Rehab Costs - Holding Costs- Closing Costs = Max Allowable Offer

Rents x 50% must be greater than mortgage payment (P&I).

@Grant T.

Once you pick a market area, start working lenders to figure out what your deal has to look like to get funded. You are about two years away from MF hitting the market that can't get refi'd so make sure you are on the right side of that situation. Middle TN has been good to us. TX lures a lot of new investors in before they realize about TX's property taxes. There are people making money in every market, just be adaptable.

@Danny McGreevy

Putting down a smaller amount and investing providing you have some hold time is mathematically better. The graph of the mortgage savings is linear, the graph of investing the remainder from a smaller down payment is exponential.

@Mardica Henderson

What do you mean include the mortgages? There are mortgages already on the properties that you are paying? If so, it sounds like you are talking about a mortgage wrap. If you just mean to include a deed of trust or mortgage on the property as part of your seller finance sale, then a title company could easily assist with that.

@Jeremy Lo

So you can read in the emails you provided, that the line was disconnected years ago. The plumbing work you needed to do was to replace the line that had already been capped off. Any property manager that would bring this to you instead of just telling the tenant no, shouldn't be in this business. You absolutely should not have done this work, nor should it have been recommended for you to do so. Sorry bud. Where'd you PCS to?

@Akshay Bhaskaran

Save the money, cancel the home warranties. I've never heard a good story about a home warranty company. Retain that risk in exchange for the return is something most investors would do.