All Forum Posts by: Brendon Pishny

@James Blincoe

If you’re marketing to a specific group then it should’t take many offers. Even the first one. If you’re sending out a ton of blanket letters, etc then obviously it will take more offers to get a deal. I typically get most of the deals I offer on, but they are deals that I personally find. I think it’s great that you had success on your first offer. If the numbers work go for it!

@Niklas Hilmoe

I’m definitely for giving some money at closing as part of the deal but never before closing. Just my opinion. If you do anything at least have it all in writing. If it goes bad you’ll have to sue to get anything back.

@Dunn Dela Cruz

I assume you have another house to move into? I think it’s a good idea. I would do the cash out refi to make another purchase. You won’t pay tax on any cash you take out. The closing costs shouldn’t be extreme on a refinance. The math is easy. If you’re going to hold it long enough to go over your break even point then it makes sense. If not then don’t. Hope that helps.

@Dylan Grieve

I know this isn’t great advice but it sounds to me like it would be best to sell it and cut your losses. You may be surprised and get more for it than you think. I wouldn’t hold it and take losses every month. Did the rehab take longer than you thought it would? I normally try to have any major rehab done in 3 months or less. A major mistake I see investors doing is holding properties too long with high interest debt. Hope that helps.

@Michelle Elsaid

I use Buildium and really like it. Tenants all get their own portal to make maintenance requests, make payments, set up auto payments and view documents like their lease, etc. It’s $50/month for up to 20 properties. It’s a little more if you go over that amount. Totally worth it though.

@Joe Villeneuve

Not really any experience, but I heard a lender speak the other day saying he could do it. I've refinanced properties but never that quickly. Maybe he was blowing smoke. My main point was to just start checking with lenders. You never know until you ask:)

@Matt Wells

I feel like it depends a lot on the lender. If you show that the purchase you made was a success and are willing to leave a little skin in the game then I don’t see why you couldn’t find a lender willing to forgo the seasoning period. I can’t imagine it being longer than 3 months either. I think what you’re doing is a great strategy. Just need to find the right lender that can answer your questions and keep you going.

@Colton Roberts

Have to go search the tax records. Usually this can be done online.

@Bruce Umeck

I haven’t done it with flooring but I’ve done this with other things. I get my own bids and choose the product. They could help with color and suggestions. Then have them pay you that amount before you install it. The rent raise is still up to you. It’s your property and you have other costs beside flooring. Hope that helps.

@Matt Wells

I wouldn’t think that’s necessary in that case. I’m working on a line of credit with paid off properties so I can go buy and rehab. Then refinance out of that. What are you going to do with the cash?