All Forum Posts by: Brett Arceneaux

I have a friend interested in lending on a BRRRR property. We have worked out terms for points and interest. He asked if the property would be in his/company's name until work all done. Or if he would be on title etc. If not, what protections does he have as a lender?

@Todd Rasmussen bad news good news—

Bad news:flood insurance on this place is $3500/yr.

Good news: It looks like the seller may come down low enough to still have it make sense. Should be able to even close without any out of pocket for purchase or renovation!

@Todd Rasmussen I also have a call with my realtor in the morning to discuss.

@Todd Rasmussen I am going back and forth on that question. I think I can rent it with some minor cosmetic work. I think this is what I’m gonna do. I can buy it and likely get a check at closing so this sounds great to me.

I am working on my first BRRRR deal and trying to figure the numbers. How much of my rehab cost will reflect in ARV? Current appraisal is $145,000. Asking price is $100,000. Assuming that's what we pay, will $50,000 in work likely equal $50,000 in value increase? It is an old house with pink tubs etc.

Thanks for the responses. So, if its not needed now, at what point is the llc needed? Next purchase?

Also, we are located outside of Baton Rouge, LA.

I have been lurking around BP, listening to podcasts, and reading up on real estate investments for some time now. As fate would have it, we have been unable to sell our previous house for a year now, so we have decided to go ahead and rent it out. It is somewhat of a hack as there is also a building on the property that my wife will continue to work out of. My question is about setting up an llc—is now the time to set that up and do I need to deed the property to said llc? Thanks! I’m excited to see where the future takes us. Sometimes we have to be forced into what we want! B

Thanks fellas! Good to know there are folks to lend support. I certainly have more dreams and questions than I have plans and answers!

Hi, new member here from Baton Rouge, LA. I’m just starting to look at starting my real estate journey. I look forward to becoming part of the community! BA