All Forum Posts by: Bruno C.

@Sentel Mays thanks a ton for the advice! Will definitely check it out.

@Rick Bassett I think this is totally reasonable. I have both short and long term rentals, and from my experience it's definitely something that would likely be welcome by both you and the tenants - for the tenants, expectations become clear, and they're not hit with a "surprise" deduction from the security deposit.  

Laws vary state by state - we normally have to get our apartments to "broom-clean" condition. 

@Michael Dunn all good points in this thread for you! Here's my thoughts:

-with a HELOC it's super bank dependent - you can get up to 100% LTV (depending on the bank), and even get a locked fixed rate option - again, depending on the bank. I'm finishing a HELOC up right now and love the idea to have access to cash quickly. It means being able to have more control of your cash.

-I've done a cash out refi and love it - then immediately put that cash into a new property. It has proved fruitful and it's also a great tool, but I prefer the HELOC overall because in a cash out refi, there's additional closing costs (more than a HELOC), and there's more scrutiny to getting that cash. I feel these take a little longer to close as well (6 weeks vs. 2-4 weeks).

Best of luck and hope this has helped. 

@Marilyn Mike out of curiousity (I'm looking to do a direct mail campaign soon as well) where did you get your list? Did you use listsource or something different? 

 I've used Guesty before and can speak to it. At a high level, it's really a dashboard to manage your listing (and your team for that listing) across multiple properties across multiple VR websites. 

The good: the systems that can be built working with them are great - automated reviews, cleaning instructions, and question handling are some of the great parts of their service. 

The bad: They don't do cleaning but partner with Handy to clean, and they're terrible (poor communication, no shows etc).

Guesty is not your boots on the ground - they have no physical location so you'll need someone else for maintenance, cleaning, key exchange etc. (anything physical). 

Overall I think their fee is reasonable at 3% but they still have a lot of growing pains as they're a startup. They are constantly making improvements and getting better, so I'm willing to stick with them for now.

Hi  there's a few food ways that I have found helpful:

-cash out refi the first property if you have enough appreciation since you've bought it, and use those funds for the down payment.

-get a HELOC (some banks will even go up to 100% LTV)

- Get an owner to seller finance the property

There's a ton of options but some require you to get creative. Good luck!

Hi all,

Have a home I need to close in 30 days on. Here's the specs:

Purchase price: 85k

Rehab: 13k

ARV: 140k

Single family home, B neigborhood.

PM me if interested. Looking for private money, HML or a silent partner.

Hi all,

Looking to buy a property using a high LTV heloc on my personal residence. I don't want to go any higher than 90%ltv.

A few questions I have:

1. Are the banks out there who will take a second position Heloc for someone even if they're not in first position?

2. Does taking a HELOC cause any headaches for securing an additional loan from a bank on the balance?

Essentially my strategy is to buy this property, do some minor rehabs, then refinance or sell.

@Colby MulryMy 2 cents. 

I am also in MA and took the course 4 years ago before I got started in REI. I don't currently use the license as a salesperson, but I can say that the education helped me navigate the waters of real estate investing a little better, as I had a better understanding of some of the terms and legal issues that can come with real estate.

Having said all that, there's no substitute for building your network with a firm lawyer & mentors. If you're only looking for ROI on the course itself, then I'd stay away from it at your stage.

I found it valuable and would do it again if I had to do things over. 

@Serena please PM me with regards to this.