All Forum Posts by: Jaycee Greene

Hey @Saint Kyle. I know a nearly identical investor in KC and he has the same issues. He usually buys under $30k, puts $100k in the rehab, and then they appraise for at least $175k.

I assume you're contacting HMLs vs banks/credit unions in the area, is that right?

Hey again @Nikol Catino. Did you put $130k total into this condo?

Hey @Nikol Catino. Have you talked to any CDFIs in Florida, the First Step Alliance Credit Union, or looked at CNote? Some of them will have programs for formerly incarcerated people like yourself. I don't have any affiliation with any of the above, but I'm happy to answer any of your questions.

Hi again @Candy Kimbro. Have you considered refinancing your STR to pull out cash to apply to a purchase in/around UTK?

Hi @Candy Kimbro! College towns are great options for investment properties. You mention buying a home or condo. Would this be something where your daughter would live and 1 or more of her friends would be roommates? And what are your main concerns about financing?

Hi @Patricia Redsicker! Congrats on successfully completing your deal. I have several clients that have done something similar in other markets. Most of them decided on which block/neighborhood based on their personal connections to those areas.

You mention you paid off your HML. I assume you did that using a DSCR loan? Did you use a local bank/credit union or a private lender?

Have you figured out any general numbers yet that you'd be willing to share here? What price point are you looking at? Are you looking at properties that only need "cosmetic" rehab or are you open to deals that require more rehab?

Hey Chloe. Welcome to the BP online community. I can share my experiences on the financing side of investing, along with some of the experiences of my clients that are developers. Happy to answer any questions you may have.

Hard to say what the effect would be on doing either without details, but I'd recommend not trying to do both of those in the same year (unless you have enough cash saved up for at least a 20% down payment on the investment property). 

Have you done some research on the available investment properties in your area?

Hey Andres. While I'm not a STR expert or an attorney, I would recommend to all investors to take their properties out of their personal name and put in an LLC to reduce your personal liability. I know some investors that have multiple LLCs for their properties, but those tend to be fix/flip developers.

Please consult a real estate attorney for legal advice before you act on any comments in BP forums.