All Forum Posts by: Allen McGlashing

@Karen Braddy I would recommend a pet deposit for each pet the tenants has because my experience they are great until the tenant moves out and they leave you with the smell which is sometimes difficult to get rid of. I would require them to carry renters insurance and make sure they have coverage for the specific reason they have dogs. I would assume renters insurance would cover any bites or attacks by the dog. Make sure because it becomes a huge liability if something happens on your property such as a dog attack. The victim will most likely go after the person with the most money (the owner).

Hey everyone, 

I would like to know me being an inexperienced rehabber; how can I estimate rehab costs? This is my next step in my Brrrrr strategy. Any books you recommend (like estimating rehab cost by J.Scott) or software that would help so I can feel safer making qualifying offers? Maybe a generalization on how much a kitchen costs or bathroom obviously it depends on the quality of material, but I’m just looking for a generalized estimate to get me to make an offer 

@Matthew Crivelli i understand. I guess I’m just looking at the different options, I want different exit strategies just in case. 

Hello everyone, i plan on using the BRRRR method on my next deal. I have reached out to many hard money lenders and all require me to create a LLC for them to loan on the property. I was wondering if there are any hard money lenders out there that loan in personal names. I feel that if the property is in my personal name it will be a lot easier to refinance into a long term rental loan.

@Andrew Postell the original post was for my primary. I have since closed with a LTV of 95%, but would love to hear LTV numbers for investment properties would love to tap into that equity.

@Cassidy Burns

There's a Lender called "Lower" they offer 95% LTV on HELOCs. I just closed with them. Here is my loan advisor's contact info tell him I sent you he'll take good care of you.

Connor Pazdzior

What do people usually do if they are BRRRRing a property and use a hard money loan which requires a LLC. Where do they get the financing when they are trying to do the cash-out Refi part to pay off the hard money. Will they have to go to a portfolio lender because it's in a LLC? Can you take the property out of a LLC and put it into your personal name to get conventional financing? Any insight would be great appreciated. This is the last step I need to figure out in my process.

What do people usually do if they are BRRRRing a property and use a hard money lender which requires a LLC. Where do they get the financing when they are trying to do the cash-out Refi part? Will they have to go to a portfolio lender because it's in a LLC? Any insight would be great appreciated.

Thank you @Uri Gofman I will definitely be giving him a call 

Has anyone had success with finding a Rockstar property manager in the Cleveland Ohio area. I have interviewed 4 so far and none really peaked my excitement. I don’t just want to put anyone in charge of my rental.