@Brian M Sweeney i see, so a portfolio lender. nice. thanks for the answer.
@Brian M Sweeney thanks for the info. Those numbers are great, congrats.
Hello @Brian M Sweeney I have been taking my rental properties in my name so that I could use Conventional Financing. Could you advise how were you able to do a cash out refi in your business name?
Originally posted by @Brian M Sweeney :
If anyone would like to hear the insight please let me know.
What a tease
@Brian M Sweeney the 1031 exchange to avoid taxes was a nice touch. goes to show that there is value in being patient. the decision to sell if the property is worth ~10x cashflow is definitely a good exit strategy.
I am newbie that is why I am reading many posts, articles etc.
I am learning a lot. It is amazing and very inspiring to learn your strategies. RE investors in BP are very helpful. All of the authors of the posts, articles, books esp. Brandon Turner are very kind to help and teach someone especially like me.
Kudos for all. You are all awesome 👏
WIsh there were properties that cheap around here in MA like OH. lol the cheapest worth living in for even a rentor that i can find is around 130k- 150K
14k a month ... not too shabby. Good job
@Brian M Sweeney What part of Pittsburgh were you doing this in?
Originally posted by @Account Closed :
Originally posted by @Brian M Sweeney:
@Merritt Steinbach I can assure you I’m not over leveraging, in my opinion. It’s currently at about 50% debt to equity, so there’s a substantial cushion. The profit margin is currently around 60% although it’s gone down over the past few months as some renovations took place. The goal is buy and hold, appreciation and cash flow. If I can get 10 years worth of cash flow from a property, I sell it. Other than that once the market slows we will probably move into residential/commercial development.
That's awesome. Thanks for sharing. Those are numbers I would be comfortable with. I am currently at 0% leverage and making between 18%-29% pre-capital expenses/perfect year scenarios. I feel really good with my numbers, but want to make the most out of the money I do have, so I'm starting to explore leverage. Great to hear stories of people making it work.
don't be in a big hurry in Milwaukee if your dealing with lower end C D just pay cash and laugh all the way to the bank.
@Brian M Sweeney - Thanks for the explanations of how you did it. Congratulations! Nicely done!