All Forum Posts by: Brandon Beatty

@Danny Luu Corevest has a portfolio loan that allows your to pull out cash. This lender is based out of California. If your property will cash flow on a 20-25 year AM there are several local banks that will do it.

@William Mallinson listen to podcasts daily!

@Johnny Accardo I have down the BRRR method on several rentals and also own AirBnBs. AirBnBs can be challenging in you only own 1 and financing them can also have challenges. I recommend only buying short term rentals where the numbers could also work if the property was converted to a long term rental if needed.

@Brad Spuhler I recommend getting multiple bids and find a smaller HVAC company that regularly works with builders and general contractors.

@Garrett Gatton I put 35k down on my first BRRR but house hacked since it was a duplex. I lived in one side and rented the other

Investment Info:

Large multi-family (5+ units) commercial investment investment.

Purchase price: $1,370,000
Cash invested: $295,000

The is an off market opportunity that did need some rehabbing. We got a bridge loan to do 165K worth of rehab to the property. Upon closing the property appraised AS-IS for $2,030,000

What made you interested in investing in this type of deal?

I own several smaller 2-10 unit buildings. I wanted to purchase a larger property for economies of scale.

How did you find this deal and how did you negotiate it?

Broker Relationship

How did you finance this deal?

Local Bank

How did you add value to the deal?

165K of rehab and professional management

What was the outcome?

Forced equity and cash flow

@Oleg Brown 50% rule should get you in the ballpark. On smaller 1-4 family deals the property taxes in some markets are higher. I would focus on property taxes and utilities (if tenant or owner pays) when comparing deals.

@Michael Ealy Michael, what is your typical deal size (# of units) and market you invest in?

@Christy Keeton I am interested as well! I am in DFW

This is an awesome post! I have consistently sent out 10k VM drops a month, have 1 full time cold caller, and 2 VAs. I have similar results but have struggled to get quality data quickly. I use rebo gateway for some of my lists as well. I’ve found it easy to over analyze the data which can be very time consuming. Currently we tag our wrong numbers, pull a new number, and market to them again. When I first pull a list I send it to a data company which gets me phone numbers to about 60% of the list and then the VAs skip trace for the rest of the numbers. What is everyone doing for phone numbers? Is anyone else tagging wrong numbers and pulling them again?