All Forum Posts by: Jaycee Greene

Unless you already have a capital reserve fund that will pay for unforeseen, major expenses, like a new water heater, roof, or A/C unit for example, I'd keep the profits in the account until it can cover 6-12 months of operating expenses. Keep the SD out of the calculation as that is the tenant's money at this point.

Hey Tyler. Were you able to find the rents you were looking for?

That's a hard question to answer without more context. One place to start is how much is the rent and your monthly operating costs?

Hi again. This sounds like a GP/LP Waterfall deal where there's a 16% pref and the LP (you) get 30% of the profits after refinance. Have you run a proforma on this to see what your returns would be?

Hey Phillip. I have a Detroit banker I can refer you to if you're still interested. I've had LOTS of success in refinancing BRRRRs with small to mid-sized banks.

Hi Anne. Everyone makes some wrong moves at various times of their lives so I wouldn't worry about that. What type of properties are you looking for? How are you analyzing them?

Hey Albert. In my experience, banks aren't generally interested in financing the acquisition/rehab of a residential investment properties, but rather they prefer to refinance your HML once the property is stabilized. I know some bankers in Dallas if you want some referrals.

I grew up near the 63031 zip code and know the area welll. There are many similar suburbs along the 270 corridor in North County that would probably have similar housing stock though you may need to look a little east (toward downtown) to find the inventory. I assume you're buying SFs in the 1200-1500 SF range and doing some light to moderate rehab, is that right?

Hey Sam. I joined BP after you posted this. I live in the same county as Belleville. I'm happy to answer any questions you may have.

Yes. Congrats navigating to that screen so quickly. HUD doesn't make it that easy to find.