All Forum Posts by: Alejandro Vargas

BRRRR credit question

I’m planning to buy my first rental soon . Here is my dilema I am contractor with 2 years of W9 the company pays me about 10k a year but the company makes about 80k to 100k per year. ( the Remodeling company is mine) company hasn’t build credit yet.

On the personal credit I have between 680 to 700 credit score

How do I go about buying my first rental on hard money and then going to refinance later?. Can the loan be based on what the company makes ? I rather do a personal transacción then open a néw LLC.

Ideas, suggestions, highly appreciated

@Frank Zondlo

Good morning Frank,

If you haven’t found anyone to do the bathroom and glass we can help with both.

I’m sending you a private with my contact info

@Kern Belfon great to hear you are looking at properties

i would post more info about your deal ( or at least I don't see it on my end) like selling price, the ARV, what is needs to get out to market, what do you want to do with it rent, flip wholesale?
Maybe a little more info about your experience with real estate . So the people here can help you analyze you deal. 

Good luck

@Harsh R.

I think those are great markets you are investing on for rentals . If you are considering Marietta and Dallas I would add to the pile Acworth and Kennesaw as they are cities north of Atlanta and have tons of desired for renters due to kennesaw University

Thanks for all of the advices. They certainly come really handy at this time.

@Kyle J. Ok thanks

@Alejandro Vargas I’m still looking not even under contract with any properties yet

@Nathan G. I haven’t purchase the property yet just stuck on this part. Once I have a clear on it I will move forward with the process.

Where should I post a turn key property in the BP website?

Where do rental investors look for investor properties?

Thanks in advance

Hi BP community,

I’m a business owner who does remodeling for a little over two years

I was a multi family manager for 19 years. (So tons of experience managing tenants)

Here is where I Need some help I'm looking to start my BRRRR portafolio in Atlanta or nearby markets

My dilema is once I buy the property with hard money ( as prices in Atlanta are a little over ($100k purchase plus rehab money) for a decent area.

I’m stuck on which bank/lender will help refinance the house after is rehabbed to pull out the profit to go on to next house with me been an owner with a young business.

Here is a little more info to help :

I have $50k available to invest

Have decent credit in the 670 to 700

I have my company tax filings from 2018 and 2019.

Have done several flips for myself

And have all the crews needed to do rehab to a house( they all work for my remodeling company)

What would you do ? How do I get the money out after the house is rented?

Who can lend to me personally/or my company to be able to refinance?

Thanks in advance.