All Forum Posts by: Aaron McKenzie

Hey everyone!  Simple question, what are the best REIAs in Phoenix?  Ideally regular meet ups without a grand sales pitch!

Thanks!

A-A-RON

Hello,

Any fellow investors here know of any homes available in North Scottsdale with at least 4 bedrooms for rent? Looking for under $2500 per month.

Thanks!

I am looking for a template of some kind that I can use to put together detailed information and photos of 5 separate, tenant-occupied, single family rental homes that I would like to sell soon.

Does anyone know where I can find a resource like this?

Thank you!

Aaron

Hello BP Community.

I have a package of 6 performing SFRs in St. Louis, MO that I would like to sell. Sale is AS IS.  We want to sell them to investors that will keep current tenants in place.

Total Sale Price is $339,000

Total Rental Income is $5170 per month

One house is vacant currently, but all others are occupied.  They are great houses and 3 of them are even on the same street.  We want to sell all of the houses as a package.  Also all houses are market rent, no section 8.

Please do not disturb our tenants.  Showings available only with an accepted contract.

If you are interested please contact my Agent, Melanie Claborn at (314)-707-9122.

Hello BP Community,

Can anyone recommend a reasonable LA area real estate attorney to draft an operating agreement for a new LLC we are forming?

Thank you,

Aaron

Hello BP Friends!

After successfully completing several BRRR's for my LLC based in St. Louis, MO, I am now living in Los Angeles and I want to start a new LLC based here but continue to invest in St. Louis. I have my team in place for the most part, but I am just curious to learn about my financing options! These questions are geared towards CA investors that are investing out of state! :-)

1) What lenders are you using to acquire the properties out of state? (Hard Money, Line of Credit, ETC). Ideally I want a lender that will fund me 100% of the purchase of the property and all of the rehab expense.

2) What lenders are you using to refinance the property once the rehab is complete and it is rented out?

3) Where is your LLC based? Is it based in CA?

4) What are the best REIA's to attend in the LA area?

Moderators: If there is a more effective place in the forum for this thread to be, please feel free to move the thread! :-)

I look forward to reading the reply's to this!

-Aaron McKenzie

Hello everyone! I have a quick question I’m curious what everyone thinks. With my rentals I set aside 5% for vacancy, $100 for maintenance, and $50 for property management (I self manage, but this is just to cover my overheard). After all of these expenses and PITI, I usually shoot for deals that will net me a cash flow of at least $200 per month. It has been getting increasingly difficult to find good deals in St. Louis that will hit this number, even from local wholesalers. However, I can find deals that will make $100-$200 in cash flow all day. My question is - would it be foolish to reduce my cash flow target so I can buy more deals? One other thing worth mentioning is that I use a line of credit to buy the house, I then fix it up and refinance once it is rented. (BRRRR) So I am growing my portfolio WITHOUT using any of my own money. Is $100-$200 in cashflow worth it?? :-)

I found the software a little too buggy for my liking. I am using Cozy.co for now. The application process is easy for the tenants and there is no fee for accepting rent online.

1. American Bank of Missouri  - They lend to many investors in our area https://americanbankofmissouri.com/

2. John Banjack is a great real estate attorney.  http://www.banjakandassociates.com/

Good luck!

@Astrid Dymond I know several local investors that use American Bank of Missouri for this strategy.  I would try giving them a call.