All Forum Posts by: Chris Seveney

Team, Anyone did recent DSCR with rate and term.

Below are my lenders gave me with 700 credit score or 720 credit score. 

5-4-year prepayment- 6.875%

5 year prepay @6.5%:

3 yr Prepayment-7%

2yr Prepayment- 7.125%

1yr Prepayment- 7.25%

1 Year Prepay @7.5%

Should I go with low interest 5 years prepay and 1 year prepay and high interest.

My Goal:

Lock rate long term predictable.

Is 6.5 good rate for 5 years period. 

Not sure I can predict rates for next 5 years. 

Need your expert inputs 

I know an LLC is the first layer of defense, and trusts can add another layer. Here's my question: if I partner with others, I don't want to add them to my LLC in case there's a falling out. Instead, they'd have their LLC (or possibly no LLC at all).

• If we both bring our LLCs into a deal, how do trusts work on top of that? Do we each create our own trust tied to our LLCs?
• If I have an LLC but my partner doesn't, can we both still be added to the trust?
• Can I list my LLC in the trust instead of myself personally?

I am curious about how others have structured this in real-world deals.

Hi BP community,

I’m new to real estate investing and currently exploring out-of-state opportunities in the $80K–$125K range, with a focus on BRRRR and small multi-family properties.

I’ve been doing my research, but I know there’s only so much I can learn from books and podcasts — the real lessons come from actually doing deals. Before I jump in, I’d love to hear from those of you who’ve already gone through the process:

• What’s the biggest lesson you learned from your first BRRRR out of state?
• Were there any surprises (good or bad) you didn’t see coming?
• If you could go back, what would you do differently before buying your first property?
• Any tips for building a reliable local team before pulling the trigger?

I know mistakes are part of the journey, but I’d like to learn as much as I can from others’ experiences so I can start strong and avoid the common pitfalls.

Thanks in advance for sharing your insight — I really appreciate it!

Christopher

BP has absolutely degraded, there's no question about it. Regardless of that - there is some gold in here. There are many experienced posters I recognize by name, tons of insightful posts and tons to learn. So I still find them helpful. 

The mod team is absolute garbage. There was actually a mod on here, Rene Hoosman that banned several posters since many of us didn't agree with her politics. There was one guy in particular - been on here a decade that left because of her. Zero accountability for the mod team. Her actions show she doesn't care about the posters. And she's not an investor herself either. 

@Scott Trench is actually an investor. Scott, why haven't we looked into Rene Hoosman's attitude and actions toward other forum members. She was the center of a thread that she locked not too long ago. We lost good members 100% DUE to her. Why has this not been investigated further? I can GUARANTEE the posters that she banned BROUGHT MORE VALUE THAN SHE DID. Someone from BP please explain why that is ok? 

Hello everyone,

I work in real estate development by day and also build financial models for investors in my spare time. I recently finished a beta version of a small multifamily deal analyzer (1–5 units) that I thought this community might find useful.

The focus was on making it simple and dynamic:

• - All assumptions go into the blue input cells.

• - Returns like IRR, cash-on-cash ROI, and equity multiple update instantly.

• - No need to adjust formulas — it’s plug-and-play.

I’m currently sharing the lite version with a handful of investors to get feedback before rolling out the full release.

If you’d like to test it out (and give me feedback so I can refine it), feel free to reply here or message me directly.

Question for the group: What features do you find most important in a deal analyzer?

I few more years and a few of my rentals will be paid off.  I was going to use the income as my pension plan, but as I do more research, I was wondering what others do.  Should I....

1.  Do a 1031 exchange and scale higher?

2.  Use the income as a pension, but liability increases if a renter wants to sue.  Should I increase insurance and add an umbrella?

3.  cash out and refi for more properties?  If so, what minimum percentage do you maintain to keep lawyers away.  Ex 1m dollar property and refi just 100k because interest rate may be high like 6.5% etc

4.  any other suggestions

Currently, I haven't paid off the rentals because interest rates are low and money are in equities making 7% or more.  If living off the income should not be an option because of renters possibly suing, I still make money through other investments, SS, dividends etc.

Thanks for looking

Hi! We just bought a property to use as an STR. Before closing, our GC did a walkthrough, but once his HVAC and electrical teams came out, they found more issues than expected and more than the home inspector noted. My question is—can I still get bids directly from other pros (HVAC, electrician, etc.) even though I’m already working with a GC?

This is my first time working with a general contractor since our previous rentals were managed by property management companies. If it matters, this is our first investment property that is within 20 minutes of driving distance from us and that is why we are self managing this time. Thank you! 

Would like to chat with investors that offer creative financing (ie seller financing)

Hey BP community,

Looking for some feedback on a creative structure we’re brainstorming.

My fiancée’s mom owns several rentals and wants to start passing them down to avoid the 5-year "look back" for medicaid, but she really values the monthly rental income and doesn’t want to lose it as it is part of her retirement plan. As part of this she is going to gift my fiancée a house, but wants to maintain the rental payments monthly.

Here’s the idea we’re considering:

• - My fiancée would take ownership of one of her mom’s properties (title in her name).

• - She (and I) would then refinance that property and use the cash-out proceeds and our savings to buy another property outright (potentially to run a BRRRR on).

• -Even though my fiancée would own the original property, we would continue paying her mom the rental income from it. So she keeps her cashflow.

In theory, mom gets to hold onto the steady income, while we use the equity to be able to buy a property cash. This comes at sort of a weird time as well because we are gearing up to buy a multi-family with traditional financing and if we went with this method we would need to use the capital from that for the cash property. So it's a one or the other situation. 

A few things we’re trying to figure out:

• - Is this type of setup advisable, or are we setting ourselves up for trouble?

• - Is leveraging this house and bailing on our traditional financing plan worth it to be able buy with cash and get the benefits that comes with it?

• -Is BRRRR a viable strategy in New England? We are in a pretty expensive market and is seems like BRRRR'ing can be tough.

• - What legal/tax/estate planning considerations should we keep in mind if ownership and income are separated this way?

• - Has anyone here structured a family deal where ownership passes down but the previous owner still collects the rent?

We’re still very early in brainstorming this, so any creative insights, pitfalls, or real-world experiences would be much appreciated.