All Forum Posts by: Benjamin Seibert

Hey @Ryan Sullivan since you're planning on selling your home soon I wouldn't plan on refinancing. You'll run into a lot more fees for refinancing and selling and it will take a small chunk from your principal. 3.75% interest rate is pretty low and solid even right now. I would recommend on saving, keep building your network and core investing team and be primed to buy a fourplex when you sell your SFH. Good luck!

Congrats on the completed deal @Matthew Gardner!

Hey @Isabella Sanchez welcome to BP! There are alot of great resources in the cleveland market to reach out to. Its a solid market but just make sure you do your due diligence!

@Peter Sukits welcome to BP! Its an awesome community with a ton of awesome people and resources!

@Josi Colley I was looking to BRRR as well. The rents are pretty low in the area but so are the prices. I would recommend finding a good PM and contractor first - they're hard to find in that area. If you put those pieces together then you can find some solid cash flowing properties there. One thing to note is that I wouldn't plan for appreciation. The area is not appreciating well right now.

@Chris Cooper congrats on the completed deal! It definitely looks like it was a great stepping stone.

Hey @Luke Nafrada I was in similar shoes to you a few years ago. I would reach out to people in the specific market for connections/referrals. Work on building your team first (to get more comfortable and build a pipeline). Realtor/wholesalers, PM and contractor are the main ones to start with.

@Vasilii Aramilev I use an LLC to BRRR. I will purchase in the LLC and refinance back into the LLC as well (since I'm holding the property). It helps will liability for holding. If you're selling through an entity alot it may be worth talking to a lawyer because a different entity may be better. But for my BRRRing circumstances I was directed to a single member LLC.

Note - I'm not a lawyer and am not intending to provide legal advice. Just giving my scenario.

@Joseph Bafia congrats on the investment. Glad you were able to pivot to a LTR even though STR didn't work out... some people haven't been so fortunate recently.

@Skyler Schumacher the loans terms sounds pretty solid to me, especially having 80% LTV. I've seen loans hovering around 3-4% most routinely. I did just hear from someone who got a 2.5% 15 Yr loan... but I wouldn't expect that to be the norm haha.