All Forum Posts by: Arden Ballard

Hey @Cleveland A.

My father in law does roofs. He’s been all across as louisiana helping people with hail and storm damage. Tri parish roofing and home improvement. His name is Terry. tell him you talked to Arden—he’ll charge you double haha

I’ll dm you the number.

Thanks @Weston Couch, I truly appreciate that. I'll send you a message shortly! 

Hey @Taylor L. I'll check that out, thanks! 

I spoke to my attorney and accountant since posting, and I think I have a clearer understanding as to what is best for my particular case. But I posted for knowledge' sake. I was exploring options to protect my assets and family, and I didn't know if this was common practice. 

Thanks for the info! 

Hi! 

How would one go about utilizing the BRRRR Calculator with the intention of "paying cash" (via LOC) then refinancing after the rehab? I want to account for the interest I'd be paying.

I was just reading this post, found it interesting, and then noticed that it's nearing a decade old... 

https://www.biggerpockets.com/blog/2010/07/06/the-series-llc-experiment-looking-for-guinea-pigs/

Does anyone have updated info to bring to the table? How are investors securing their assets? To me, I believe the Land Trust method seems appropriate. 

Thoughts?

@Braden Smith good info. I’ve quickly learned that the mls isn’t suited for what we’re trying to do—not in this market! I’ve found some leads on Craigslist, but nothing I’ve closed on yet.

@Braden Smith thanks! I appreciate you taking a look!

The loan info was directly from my bank contact, but I am still waiting on my contractor to come back with the detailed costs. Considering your link (thanks for that!), I may consider painting the brick exterior for a more uniform look to add some additional value.

You’re right, I’m afraid some people will just bit too high for the deal to make any sense. But I think that this deal makes a lot of sense for the right price, especially for our first mfh.

Hope to see you Thursday!

Hello BP! I’m excited about my potential first mfh, but I’m not alone to the party. This foreclosure will be going to auction, and I think it’ll go above asking. I just left, and here’s what I know:

2 units: 1 side 2/1, 1,000 SQ FT the other 3/2.5, 1,200 SQ FT Both vacant. Separate water, gas, electric. Asking 189,900. Probably needs 7k in Reno total. I think the rent is undervalued at $900 and $1000, respectively.

I’m prepared to put 20% down, 3,500 in closing. Comps at the lowest are in the 220s range.

My math has the deal being pretty tight, especially if it gets crazy at auction. The units have granite throughout, and most of the repairs are cosmetic only. What are some efficient ways to increase arv during the Reno? Would you paint exterior (it could use it)? Landscaping? I’m looking for ideas that might make the appraiser smile 😃

Thanks!

Excellent advice. I've been looking around on the MLS for the past couple of weeks and can't believe the prices people are getting for some of these properties. I'm definitely trying to get creative to reach my goals, including spreading out my search for MFH worth my time.

Thanks @Mindy Jensen for the info! I'm 1/2 way through, started my business plan, getting pre-approved and looking at properties this week :)