All Forum Posts by: Alexander Felice

Don't overthink it and don't get hung up on it. Names can change down the road (and likely will). 

You need a name to trade on, but the name of your business won't make you any money so make sure to focus on what's important. 

Unless you have a storefront with signage it's really almost a non-issue as most people won't ever see your business name anyway. 

how about: JakebuysRE LLC

Originally posted by @Annchen Knodt:

Hi @Norman T Eng, these days you can get a 30-year conventional loan with interest rates in the 4s (I'm paying a fraction of a point to get 4.25% on my current loan which I'm very happy with).  If you play your cards right, you can find a lender who will allow you to use the "delayed financing" exception to do a refinance without having to wait the usual 6 month seasoning period.  If you're interested in that, Alex Felice talks about it in detail on episode 301 of the BP podcast.

this is true but I do not recommenced delayed finance for first time BRRRR. It's overly complicated and the benefit is not proportional. Once you get a system down and speed becomes the hurdle to overcome, then delayed finance becomes appealing.

I'm here in Fayetteville

I invest in SFR, commercial mutlifamily, and flips

I run a meetup group as well

Let me know if I can help ;) 

@Natalie Kolodij

Fannie Mae rules don't allow you to get one of their products if you have 10 financed properties already. 

As Nate pointed out the video above is a great video on how to answer this problem. 

Also as stated above, you're done with single family homes. It's a diminishing return at this point, complexity goes up and efficiency goes down. 

Originally posted by @Justin Tahilramani:

@Tevell Williams - this isnt a "deal" - it's an MLS property in Spring Lake. It hasn't been purchased because it's a turd. If it was worth anything or would have already been purchased. Owners Re considering seller financing because they are desperate to sell. The location is terrible by the way.....

 once you said spring lake you said all you needed to.

hard pass OP 

Details matter here

What you said is exactly correct, you may be taking the risk and her taking the gain.

How the structure is built makes all the difference.

who is going to manage the property? That's who I would ask for what it will rent for and what vacancy to expect. They are the ones who will be tasked with the job. 

and yeah it's a very small town, lumberton is nearby but it's a very poor are and $1000 rent there is on the high side, so be careful. 

Also remember that real estate on paper is easy, real life is less forgiving. 

Yes I've had it happen. Deal specifics matter, you don't have to take out all the debt available to you. 

but if you do take it, just make sure you have the deal flow to make it work for you. If you can't find deals then maybe slow down on leverage. 

This is cleaner than my apartment!!!!

honestly it's gross but mostly cosmetic, you've saved a lot more by letting him live in the filth than turning over filthy apartments.  This is a 30 year tenant that has saved you some serious expenses. You would have had to turn that place over 5-6 times by now otherwise, and when he finally leaves all you really need to do is clean out and a lipstick rehab. For me this would be a $5k cost, I'll gladly take that for a 3 decade reliable tenant. 

I would be more scared if he was a hoarder, which is dangerous, this guy just seems grimy.