Daniel Taylor
Seeking Advice on Structuring a BRRRR Deal for a Foreclosed Property
19 July 2024 | 4 replies
I'm currently looking into the BRRRR method (Buy, Rehab, Rent, Refinance, Repeat) and need some advice on structuring a deal for a house that's in foreclosure.Here's a brief overview of my situation:Property Value: According to Zillow, the house is worth $649,500.Current Loan Amount: $470,000, which is the current market value without any repairs.Funding: I'm looking for a hard money lender to cover 100% of the purchase cost and rehab cost.Tenants: I already have tenants in place.I'm working on getting the exact numbers for the rehab costs, but I would appreciate any advice on how to structure this deal effectively.
Will Gaston
What Have You Completely Changed Your Mind On in Your RE Career?
19 July 2024 | 12 replies
Not sweating the small stuff and focusing on the big picture and long term really makes things easier.
Karolina Powell
Questions to ask when touring a multi family
21 July 2024 | 12 replies
Thanks Hi Karolina, I meant to comment on your previous mixed use post, provided 50%+ residential and 85% occupancy should be several reputable lenders that can provide workable terms.
Jose Ramirez
Do you have umbrella insurance for investments property
21 July 2024 | 2 replies
(You’re protecting equity/your net worth, if you don’t have anything you don’t need an umbrella.)I used USLI for a long time but they changed their standards a couple years ago and wouldn’t offer more than $1-2m if any property had a pool.
Austin Berlick
Hassle marketing property
18 July 2024 | 8 replies
I'm starting to wonder better ways to outsource this work and find solid tenants who will stay for the long haul.
Melvin Mickens
Apartment locator or residential sales.
18 July 2024 | 4 replies
I agree with with Jordan that long-term your time is probably better spent focusing on residential sales especially with your goal to own multiple rental properties one day.
Alex Silang
How to do joint venture with brother?
21 July 2024 | 1 reply
I don't like the terms and would try to avoid.We could still do a conventional loan and if I'm not mistaken it'd be this whole "gift money" thing so the shared ownership wouldn't be recognized legally.
Luis Arguello
Strategies to reduce taxable income while deploying capital to build wealth?
21 July 2024 | 10 replies
Similar green energy investments could be considered if you can make the numbers work (credits on some types of low income housing can be north of 50%).Depending on how long these properties have been held, they could consider implementing cost segregation studies via a change in accounting method to accelerate some depreciation.The operating proceeds could be re-deployed into new properties where cost segregation is an option to accelerate depreciation to offset proceeds.If the properties are low basis and we are not maximizing the 199A deduction, maybe considering an S-Corp structure for management to be able to participate in retirement plans and also generate wages to use as a 199A base.
Ted Daley
Renting Commercial space
20 July 2024 | 4 replies
I would appreciate any advice or suggestions on how this figure might be reduced or if there are any terms that could potentially be negotiated.Thank you for any assistance.
Andrew Lax
Trying to be creative
20 July 2024 | 10 replies
Even if you were, why would someone take these terms?