All Forum Posts by: Whitney Alford

Are you accepting new clients or have any recommendations? I am willing to work with someone out of state, just want someone who is knowledgeable in real estate. Any advice/ recommendations will be greatly appreciated!

Hello all,

My name is Whitney, I am a fairly new investor in the Baton Rouge, La area and am looking to partner with an experienced tax accountant to assist with filing business taxes for rental 3 rental properties and a flip. I would also like to be educated on tax state/federal codes to stay compliant. Any recommendations would be greatly appreciated as well!

@Irwin Velez we are funding with cash. We both are putting in 20K as well as have additional reserves in our emergency fund, but we haven’t started on the being approved by a lender yet. We would like to talk with a lender to get a realistic picture of what to do and expect. We will definitely take your advice and start reaching out and connecting.

@Irwin Velez Amazing! We have a similar deal in the works for a few SFHs. Do you recommend any local banks, credit unions, lenders that work with first time investors?

I am new to BP and am currently trying to network in the Baton Rouge area. My partner and I have purchased our first buy and hold property in North BR using a sellers finance. Our plan of action is to BRRRR the property and buy more rentals in the area and around LSU and surrounding areas. We are currently in the rehab phase and are looking to connect with lenders for the refi. So far, we have put all in cash and are not familiar with what to realistically expect for the refinance. I have done some research, read, and listened to BP on the refinance part of BRRRR but I know each deal is unique and what worked for one won't always work for the other. I want to be as prepared as possible for the best transition; so that, we can get as much money back to invest in the other properties we have our eyes on. So far, we bought the property for 20,000 with 6,000 left on sellers finance, rehab budget of 20,000, turning a 2B/1 Ba SFR into a 3B/1Ba with house comps for similar properties in the area selling for 100K. We have fair credit and both have full time careers. We really are passionate about REI and would greatly appreciate your expertise!!

Whitney Alford

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Hey @Irwin Velez thanks for this post! I am new to BP and am currently trying to network in the Baton Rouge area. My partner and I have purchased our first buy and hold property in North BR using a sellers finance. Our plan of action is to BRRRR the property and buy more rentals in the area and around LSU and surrounding areas. We are currently in the rehab phase and are looking to connect with lenders for the refi. So far, we have put all in cash and are not familiar with what to expect for the refinance. I want to be as prepared as possible for the best transition; so that, we can get as much money back to invest in the other properties we have our eyes on. So far, we bought the property for 20,000 with 6,000 left on sellers finance, rehab budget of 20,000, turning a 2B/1 Ba SFR into a 3B/1Ba with house comps for similar properties in the area are selling for 100K. We have fair credit and both have full time careers. We really are passionate about REI and would greatly appreciate your expertise!!

@Timothy Ahn

Hey Timothy! My partner and I are new to REI and are currently working on our first BRRRR property in North Baton Rouge. We are in the rehab phase and I am looking for lenders for the refi. Do you know of any local lenders? Also, if interested, we can definitely partner up on some properties. I am very interested in the areas around LSU; as well as, other properties in Baton Rouge and surrounding areas.

@Shaun R. Hey Shaun! My partner and I currently rehabbing our first BRRRR property in Baton Rouge and are looking for lender recommendations! Could you offer any advice/connections?

Hey Bigger Pockets Fam!

My partner and I new to the family but are so ecstatic to be here. We have just started our BRRRR journey with our first property on Clayton Street in North Baton Rouge off Plank road and Airline Hwy. Property is in the lower C class neighborhood. We purchased a property for 20k through sellers finance with 6k left to pay out. We are currently in the beginning rehab process. Our plan is to convert the 2 bed 1 bath home into a 3 bed 1 bath home. Our total budget is estimated to be about 20k with an overall budget of 40k. We are searching for lenders to help with the refi of this property and our future ones to come. We have three homes that we are currently eyeing in hopes of pursuit. My partner and I are both new to the Real Estate Investment business and are in need of clarification on the process of refinancing the property once completed, what are the most optimal options for us to take, and lastly we want to get the best LTV on the market.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $20,000

First rental property with the intent on BRRRRing. Considering utilizing Section 8 for this house and a few others in the area due to the local neighborhoods. Home currently is in an area near Down town Baton Rouge for a quick commute to night life and both LSU and SU. Currently, in the first stages of rehab process with potential tenants ready to move in once ready. We are now looking for lenders to partner with for our first refinance. We are both new to this process.

What made you interested in investing in this type of deal?

Partner and I are native to Baton Rouge. We are beginning our investment business to create and generate long time wealth. Using the BRRRR method, we could exponentially increase real estate investment portfolio and grow our LLC to open doors to a plethora of opportunities.

How did you find this deal and how did you negotiate it?

Randomly, my partner met owner at the barber shop.

How did you finance this deal?

Seller's finance

How did you add value to the deal?

Forced appreciation through rehabbing property

What was the outcome?

currently working on project

Lessons learned? Challenges?

Going in, we did not know what to look for as far as with the lay out of the house, the year the house was built, and damages that lie beneath the hideous walls. Since renovating, my partner and I have learned how quickly rehab costs can rise once you gut the house and see what you really are working with. Our original plan was to turn a 2 bed 1 bath single family home into a 3 bed 2 bath. However, the costs in repairs and addition to the house far outweighs the return we would get in ARV.