All Forum Posts by: Ugo O.

 Hey River,

Thanks for getting back to me, just accepted the DM, let's talk more

Hey guys,

So I just finished rehabbing my first house and I intend to refinance it into a DSCR loan since I want to have the loan under an LLC.

However my lender wants me to use a Property Manager when I would like to refinance. This is my first property and I would love to self-manage. Do all DSCR lenders require me to use a property manager? What can I do?

Hey guys, I am looking for a reliable, reputable, and trustworthy Inspector & General Contractor who operates and works in Memphis. 

Please if you know anyone that satisfies these and you have worked with them before, leave a comment or a DM and I will reach out. I really need one before making offers on my next set of deals.

Thanks!

 Hey Luka,

Thank you for replying! I went ahead and booked a call! Looking forward to meeting the team soon. One thing is that I think I need an LP rather than an LLC as Canadians would get double taxation if they simply register their business in an LLC. But we can discuss that more.

Hey Steven, thanks a lot for the feedback, this makes a lot of sense. Deals 60-65% of the ARv are seemingly hard to find. But I guess we need to keep searching until you find a deal that works. Do you go direct-to-seller to find your deals or do you simply purchase from the MLS or wholesellers? What's your deal-finding process?

Also I am investing in the US so a lot of your tools help me as well, thank you!

Hello guys,

I recently closed on a property that I bought in cash. I am looking to refinance in a few weeks and most lenders are telling me that I need to have the property under a legal entity, rather than having the property in my personal name. Is this the same with other Nonresident investors?

What Legal Entity do you have set up and approximately how much does it cost to set up and maintain? Do you guys also pay more tax than you would if you were a US resident?

If possible, could I get a reference to your Cross border CPA? I am currently looking for one! Would love to hear your thoughts

Thanks, @Kevin Sobilo for the feedback, I appreciate it. The issue is that I am a Canadian investor looking to invest in the US and I have a hard time estimating rehabs and the like. So going in person would be too expensive and time-consuming. 

I am thinking of a system where my investor-based agent gives me a ball park, and after that I pay contractors to go in and give me itemized bids, what do you think about that?

Hey Alana and Minna, could I ask what tools you guys use to get previous sale data? I have tried Zillow and Redfin but they tend to hide sale prices. And input would be appreciated.

Hello Everyone,

When looking at pictures of a home, how do you go about estimating what the cost of the rehab would amount to? Do you ask for more in-depth pictures of the property and then go to the contractor and ask for a rough quote? I can imagine this would get annoying for every single home. Another thing I am thinking about is getting pictures, and then writing out the items that need work, putting an upper band figure on it, and then using that in my analysis. 

But I want to hear from the more experienced folks, how are you guys able to accurately analyze rehab costs?

Hello everyone,

I am about to start writing out offers and I wanted to know the general opinion on how to find proper comps in the area when calculating ARV. What has been the most reliable way for you to calculate this? I am stuck in a little analysis paralysis because I am unable to make a decision when calculating the ARV of the property. I understand I can either

1. Compare comps of recently sold homes in the last 6 months ( In this case, where do you find sale information? Zillow for some reason hides the sale prices of homes that were recently sold, so calculating this seems very hard)

2. Just calculate the average price/sqft and use this, but this isn't good because some out of date also get sold, and the likes

Finally, how closely do investors follow the 70% rule? I find it hard to find homes where the cost+rehab <= 70% of ARV. How are you able to do this? Do you buy homes that do not satisfy this rule, or do you just make lower offers so that you adhere to that rule?