All Forum Posts by: Beau Pearson

@Tracy Minick great advice thanks

@Jon Crosby 1-2million? Most rental policies come with 300k I believe don’t they ? U could do like an umbrella policy above that if u wanted.

@John Underwood that’s solid feedback

@Ray Harrell yea, that’s what I was thinking. Doesn’t add rental value in any way and yea, it’s just a solid middle class neighborhood. There are some nice homes and some not nice ones. I would personally live there.

I have a 3-2 in a solid neighborhood. I would say B- C+ neighborhood. It had a sprinkler system when I bought it. It needs some repair and re doing in some spots. I would say 1k to be done right with some new zones. Well works fine and pump. And I’ve spent 250 already. Does not affect me getting tenants. I had 22 showings in 4 days and 4 application in. Thoughts?

On lease signing day with your new tenants, what is the best way to do the initial walk through? Photos? Video? How do you time stamp them??

@Jack Bobeck well where I am in Florida it has become much harder. So without marketing and sourcing deals, it’s hard to find anything and frankly I’m not that good at that part. Nor am I good at estimating rehab costs. I have money though and I have rentals so I understand bookkeeping and managing tenants etc. but when i bought it was after crash so, it was easy. He has a ton of experience obviously. But he bought so quickly that his reserves and debt to income isn’t where it should be to get long term money. So him, with another partner are doing flips to build cash reserves. He needs me to get long term financing. Basically.

@Ned Carey not appreciation but built in equity. We would be using the brrrr method. So most of the deals we have looked at together, you are all in for 70 and the ARV is 90. That’s what I mean. Not banking on appreciation.

@Nancy Zhao he was actually on a show on BP last year. He is tapped out of long term financing for now. He acquired a lot of properties very fast. So the equity isn’t where it should be. The debt to income levels that is. He has equity. So they are doing flips to build cash reserves.

@Jack Bobeck can we talk via private message about those answers?