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All Forum Posts by: Ty Coutts

Ty Coutts has started 9 posts and replied 401 times.

Post: I need a portfolio spreadsheet for my actual numbers

Ty Coutts
Posted
  • Lender
  • Colorado
  • Posts 436
  • Votes 210

Hey Krista, 

Personally, I use Excel and Google sheets to keep track of all my analytics. A popular Excel template is Vertex42 as it automatically includes spaces for property details, rental incomes, expenses, and a summarizing sheet. I suggest keeping track of these key features which range from cap rate to, cash flow, ROI, and asset comparison. Also, you can search for free real estate investment portfolio templates for Google sheets. These often include detailed income/expense tracking, asset value tracking, and performance metrics. If you have any more questions, feel free to DM me.

Post: tips on rehab

Ty Coutts
Posted
  • Lender
  • Colorado
  • Posts 436
  • Votes 210

Hi Robert, in terms of the work that could be done easily I suggest activities such as painting, flooring if you have the proper tools, and tiling. Activities that deal with electrical or plumbing should be outsourced to avoid more expensive issues unless you have some prior experience with the simpler repairs in each. For more advanced issues in either of the prior you should find a contractor to deal with them. HVAC or any structural issues like foundation or framing should automatically be outsourced to a contractor. Some good YouTube channels to learn a bit more would be Home Repair Tutor, DIY Creators, and This Old House. If you have any more questions, feel free to DM me.

Post: Looking for trailer park financing in NY

Ty Coutts
Posted
  • Lender
  • Colorado
  • Posts 436
  • Votes 210

That’s a solid setup with a nice mix of lot rents and commercial space:

In terms of refinancing, here are a few things you might want to consider to optimize your deal:

  1. Loan Type: Are you looking for a traditional commercial loan or an agency loan (like from Fannie Mae or Freddie Mac)? With a mixed-use property like this (residential and commercial), commercial lenders could be your best option. 
  2. Interest Rates and Terms: If you’re refinancing to pull cash out, it’s important to see if interest rates have shifted since you took on the initial loan. You’ll want to ensure the cash flow can handle any changes in the monthly payment. If rates have gone up, it might impact your cash flow a bit, but if your rents are stable and you’ve made improvements, it could still be worth it.
  3. Appraisal: Have you had an updated appraisal done recently? With the balance owed at $450,000, it’s important to make sure the property has appreciated enough to get favorable refinancing terms. The appraised value will play a big role in how much equity you can access.

If you want to talk more about this, shoot me DM or email!

Post: House Hacking vs Renting Analysis Spreadsheet

Ty Coutts
Posted
  • Lender
  • Colorado
  • Posts 436
  • Votes 210

Hey Mat! 

I went into a deep analysis on this myself before I became a lender and my wife and I started house hacking. I can tell you with the utmost certainty that buying a home will almost always beat putting money into an index fund and continuing to rent. Here's the quick top reasons why:

1. You always pay $ to live somewhere so owning just allows you to capitalize some gains from this set cost 

2. Getting a tenant to pay down your loan for you is where the magic of free equity comes into play

3. Sweat equity means that you have control over if your asset gains you more $ or not which you'll never have in the market

4. Leverage - crazy to think you can turn your $9,000 into a vehicle that appreciates based at $300,000 (3% down as first time homebuyer) 

5. Tax write offs 

DM me for the math breakdown I can email you! 

Post: Colorado Fix and Flip Project

Ty Coutts
Posted
  • Lender
  • Colorado
  • Posts 436
  • Votes 210

@John Galloway Hey John! Are you still currently doing these type of ventures in Colorado?

As a lender I help clients with unique financing all the time, and have a couple long term hold investment properties but I am wanting to start β€œdipping my toes” into the flip world. Would love to buy you a coffee or anything to gain some first hand experience from you if you have time!

Post: Pre Event Intro - If you're coming to BPCON2024 let us know who you are!

Ty Coutts
Posted
  • Lender
  • Colorado
  • Posts 436
  • Votes 210

😁 Ty Coutts
🧠 My area of expertise is creative financing and long-term real estate advising
πŸ™Œ Looking forward to genuine conversations, gaining and sharing wisdom, hanging out with my wife by the pool 
🀝 If I could make a great connection with someone looking to achieve generational wealth through real estate at BPCON2024 then I would leave BPCON happy
πŸ—“οΈ Can't wait for the Real Estate Partnerships: Tips for Investing in Real Estate with a Spouse, Relative, or a Business Partner

Post: How do you maintain a strong and positive relationship with your borrowers?

Ty Coutts
Posted
  • Lender
  • Colorado
  • Posts 436
  • Votes 210

Hey Charlice,

I am a pretty active LO on this platform. When it comes to managing borrower relationships, a few key strategies can make all the difference. First, always aim for clear and regular communication. This helps set the right expectations and build trust. Try to personalize your interactionsβ€”get to know your borrowers’ needs and tailor your solutions to fit them. Using technology can help keep communication efficient and responsive, but make sure you’re proactive in addressing any issues that come up. Educating your borrowers about loan terms and financial planning can go a long way in building trust and satisfaction. I always try to be the "loan expert" for my borrowers. That way I can be the resource they need when they need it. Finally, don’t forget to ask for feedback regularly to see how you’re doing and where you can improve. This way, you can ensure you’re meeting their expectations and maintaining a strong, positive relationship.

Post: The BRRRR Method Made Simple

Ty Coutts
Posted
  • Lender
  • Colorado
  • Posts 436
  • Votes 210

π“π‘πž 𝐁𝐑𝐑𝐑𝐑 𝐌𝐞𝐭𝐑𝐨𝐝 𝐌𝐚𝐝𝐞 𝐒𝐒𝐦𝐩π₯𝐞:

πŸ πŸ’° Unlock Your Financial Future with Real Estate! πŸ”‘πŸ’Έ
Are you tired of paying rent and watching your money disappear? Learn how to build wealth through real estate, even if you don't have a fortune to start with!
Join me for an eye-opening presentation on the BRRRR strategy (Buy, Rehab, Rent, Refinance, Repeat) and discover:

Why investing beats renting in the long run
How to get started in real estate with minimal upfront cash
A modified BRRRR approach for today's market conditions
The power of compound growth in building your net worth

Don't miss this chance to learn how you can create your own retirement plan, build a property portfolio, and achieve financial freedom. Whether you're a first-time investor or looking to scale your existing investments, this presentation is for you!
Date: Wednesday, August 7th
Time: 12:00 PM (MT)
Location: https://meet.google.com/mhp-famv-qvg Or dial: β€ͺ(US) +1 252-858-0074‬ PIN: β€ͺ930 707 941‬#

Reserve your spot now: https://docs.google.com/forms/d/e/1FAIpQLSebTui-tpmMWS1GGU9S..

#RealEstateInvesting #FinancialFreedom #BRRRRStrategy #WealthBuilding

Post: Buying multifamily as primary

Ty Coutts
Posted
  • Lender
  • Colorado
  • Posts 436
  • Votes 210

Also, I am aware that there is an FHA rule for four plex's. I think that the rule says the monthly rent of the other three tenants must exceed the monthly costs of the property. I think I have this right, but I would do your own research as it may be a large factor. It popped up in my mind and I thought I'd share.

Post: Buying multifamily as primary

Ty Coutts
Posted
  • Lender
  • Colorado
  • Posts 436
  • Votes 210

My apologies for the misleading post, I see how what I said was misinterpreted. I was more so saying that after a year of occupancy period, you could explore options such as a property manager to take over and you could move onto the next investment property. Yes, DO NOT claim you live there when you do not, this is indeed fraud.