All Forum Posts by: Brad Campbell

I grew up in 40214 and live just south in Shepherdsville. I don't advise 40212 at all. I'm looking in 40214 myself.

Id like to hear everyones opinions/stories on buying foreclosures at auctions. Yes, I know the majority of them will need work, that is what I'm looking for.

@Greg Scott

How many properties do you have? And how many will it take to change your mind?

I will be starting the BRRRR process in late spring/early summer, and will be doing so with a LLC. Unless someone comes up with a huge reason to change my mind this is what I've decided. I will be putting CASH, my CASH, into a LLC and making the offer on the house in the name of the LLC. My question is, is there any benefit in opening the LLC early, say January, as opposed to right before I purchase? (I'm thinking credit building benefits).

@David Kelly

I'm definitely keeping that in mind, but I was thinking with the interest rates as low as they are I might as well kill 2 birds with 1 stone and refinance. But if HELOCs will go 95% that may be best.

I am almost done with an addition/comple remodel on my primary residence and am wanting to refinance it and get cash out to start the BRRRR process. I owe right at 100k and everything is telling me the home is going to be worth right at 200k when done. I think closer to 225k but I'm not getting my hopes up. My question is, instead of going to a traditional lender, and getting 80‰ (about 60k), could/should I go ahead and get a relationship started with a portfolio lender? I have heard that you can get 90%+ from some. I know it will be a little higher rate though, but this extra cash will open me up to tons more property options in my area. Any other advice is welcome.

@Filipe Pereira that's exactly what I was looking for. I feel a lot more comfortable now about hiring a PM. Now I will have a "starting point" on what to look for in one. Thanks!

Can someone direct me to a good article about what all a property management company would be responsible for? I understand the basics (collecting rent, advertising, paperwork) but what about details about the maintenance? Say a pipe bursts in the middle of the night? Who does the renter call? Who pays for the work? Do I get to approve who does the emergency work? I know not all companies are the same but I'm looking for what to look for in a good one. Any information is helpful and my apologies for the very newbie question.

@Jon S. Thank you. I should have been more specific. I have the taxes/insurance figured out, just didn't really know what everyone else was budgeting for other stuff. I saw the "50%" rule but wanted it broken down.

@Marc Rice thank you