All Forum Posts by: Bryan Hartlen

Hi all.. not sure if this is the right forum... but I couldn’t find one that seemed a better match.  Anyway, we’re looking for some basic information on portfolio loans.

We have a few low value SFR properties that we own outright. We’d like to pull our cash out but they don’t qualify for individual mortgages. We own the properties in a couple different LLCs.  We are also planning to move into MFR units.  

Wondering if portfolio loans will:
- let you mix SFR and MFR properties
- would we be able to mix properties from our various LLCs?
- what’s the lowest cumulative value for portfolio loans
- how do portfolio loan terms differ from single asset loans?
- any recommendations on where i could learn more about the options?

Thanks!!

@Derek Voyles we have a guy in our community that manages ~ 30 short term rental bedrooms in multiple locations.  His high level rules of thumb are; When properly managed expenses are roughly 110% of standard rental expenses.  Gross rents are roughly 2x standard rental rents. I personally can't verify these numbers (yet). 

@Todd Powell Venmo is an ‘instant’ cash transfer app. You can link it to a checking or savings account. You can send or receive email through cell#’s or email addresses which are used to identify accounts.

I’m not sure but I think it only supports on-demand transactions - I don’t think you can schedule payments (like auto-withdrawal from a bank).  So it might be convenient IF your tenants remember.  

Payments and receipts show up in your account as Venmo with the other person’s id- so they are identifiable.  

@Chris Seveney, in this case, even with equity and 7 years payments, we would attempt to acquire the CFD for less, but only because we believe there is a market bias against CFDs and many sellers would be prepared to discount.

@Jim Holmes Thank you. I've sent you a message.

@Jerry M Cutrona what is HUD rental? Is that Section 8 or some other rental assistance program?

@Account Closed I agree and would slice it a little tighter:  C or B class rentals.  Multi-family to diversify risk. Different states if possible to diversify further (if management isn't a concern).

Hello BP community; we're negotiating the purchase of a 4plex in Terre Haute and we own a SFR in Brazil, IN. Both need rehabbing. Our current plan is to flip the Brazil property and hold the 4plex. Any references for general contractors, property managers and inspectors would be greatly appreciated. Thank you.

PS - tried using BP's Find a Contractor with no luck.

Thanks @Account Closed...  As much as I love Saskatchewan, it's a long drive to from there to see family.  

@Roy Cleeves and @Adam Krawec thanks for confirming...  It looks like any Ontario investment will have to be short term rentals (or cottages).