All Forum Posts by: Brandon P.

Your story is inspiring, it's good to keep seeing and hearing these experiences from others. Great work!

Look nice, congratulations on making this deal happen.

That is a killer deal! Nice work sir! 

Quote from @Ryan Sun:

My question is, currently the interest rate is much higher than it was two years ago, and housing prices haven't dropped significantly. As a result, it is very difficult to find a property with positive cash flow right now.

When my dad bought a house in the 80's he paid 17%. It's all perspective.

Quote from @Wesley Myers:

Quote from @Brandon P.:

Hello Wesley,

I lived at a friends house in 2021 in Reunion, right next to Celebration, and almost every home had a hot tub there. My friends were on a vacation and then decided to stay long term - since the rates were so cheap during the pandemic. Remember this is a long term rental and he was paying the bills at this time. He mentioned to me several times that using the hot tub a lot was increasingly adding to the electric bill.

All the houses in this development had access to the hot tub controls, meaning the start and stop capabilities, etc. If the heat wanted to be turned up, he did have to call a property management company, which he did several times when it was too cool. I don't know of any wi-fi controls for a hot tub.

Does it add to more possible bookings, probably yes, but the bill, especially if the spa is on all the time, which it can be when people are on vacation will add up as well.

Thank you sir. My plan for the increased energy consumption (gas in this case) would be to have the renter pay extra if they want to utilize it. Hopefully this would cover it?

 Yeah that would be good. In your welcome brochure that explains the features of your house, just have a hot tub section, stating that excess use (keeping it on all day) would result in an additional fee to cover the cost. 

I have a very specific question regarding our first home's deed.

Here is the quick story: 

My wife and I bought our first place last year (July 2022) and are currently successfully house hacking in it. For this first one, our financing was through my father. He paid cash for the property and the deed is in his name; we just pay him every month. The question we have is, what is the best scenario for all of us moving forward. My plan is to acquire more properties this year, from a lenders prospective would it look good to have a house already under my wife's and my name or would we want to keep it under my father's name for the time being? Whatever we do, we want it to benefit us for the continuation to acquire more properties. The recording fees and special warranty deed made out to my wife and I would cost around $4700. We are willing to pay this, but the priority of when we pay it, is the more important question. 

Also worth mentioning, I have had a switch of employment, and will be going from a w-2 to 1099, this could and will change the way lenders look at me.

Should we keep the house in my father's name or switch it us? Even if you have read this and are unsure, but have a real estate lawyer or lender that might be able to help us navigate, I would greatly appreciate their info.

Thank you! 

Nice work! 

Hello Mark, talk to @Joshua Janus or @Remington Lyman they might have someone in Cleveland for you.

Hello Mackaylee, 

Books that have and continue to fire me up, even when I reread them:

1. 10X Rule - Grant Cardone
2. Rich Dad, Poor Dad - Robert Kiyosaki
3.The Gap and the Gain - Benjamin Hardy
4. Be Obsessed or Be Average - Grant Cardone

Podcast that have fired me up the last month are: 

Episode 749 on bigger pockets with Josh Janus and episode 761 with Yamundow Camera.

Have fun!

Hello Marcelo, make sure to reach out to @Remington Lyman or @Joshua Janus with Reafco. They are out of Columbus but work in the Cleveland market as well.