All Forum Posts by: Brian Breiding

We have used Keys for Cash for a complicated problem tenant and it turned out nicely.  Did we lose some money upfront?  Yes.  But, long term, best decision we could have made given the situation.  Saved the money on attorney, court costs, plus all the time going through the eviction process.  

If there is no chance to recover the money through eviction/small claims and they wont leave willingly, Keys for Cash is not a bad option.

Our problem with conventional loans is that the initial price of the houses was too low for the banks to even look at.  Great cash flow and they have the value after rehab.  The houses are either in my name or my wife’s, not both.  

Would a co-signer with a high credit score help in these situations to get the refinance?

our cash flow and ROI are great even with the higher interest rates that we are paying. Most of our properties will be paid off in 3-5 years and we are comfortable letting that ride out. However, we have also looked at these and a refi cash out as a way to grow our company faster.

The properties are held in myself and my wife's names. We have an LLC for the business side, but haven't transferred the properties into it yet.

What kind of requirements do the banks look for?  We both hold full time steady jobs outside of real estate which helps with the debt to income. Our credit scores aren't as high as they could be due to the high revolving balances from the real estate.  

Definetly not going to give up.  But, I do want to be better prepared going to speak to the next bank.

We need help with the BRRR method. Our portfolio currently consists of 10 properties (5 single family homes, 5 duplexes). We have financed these through various methods including traditional, home equity from our primary home, private money, and seller financed. Moving forward we want to work towards a cash out refinance. However, we were met with a hard no from the local bank without an explanation behind it. Everyone talks about doing BRRR, however no one gives the details of the refinance part. How do you go about this? What types of lenders are BRRR friendly? Where do I start????

Spend your money with someone whom you don't have to fight your conscious about.  

And do you really want your property/company associated with him?