All Forum Posts by: Chris Low

Do you have much experience with stucco? We're looking at a house to flip that has some major stucco issues. One stucco contractor gave us a doom and gloom scenario about repairing the exterior. His quote was $15,000 for a 900 sq. ft. house and that was without doing any sand blasting, which he doesn't do. Even for CA that seems high. The house itself is on the market for $90k. Is there a way to peel back all the existing stucco to the lathe below it and then just re-apply the stucco layers?

@Adam Smith and @Chris Richey we're in far northern CA (Redding area) but looking to invest in central and southern OR as well as relocate there in a few years. Have you considered starting a So. OR investor's group? If so, we would gladly make the trip for monthly meetings.

That makes sense @Chris Mason. Best explanation I've gotten so far. Thanks!

@Ramin Y. - something you might consider in your research is the question I see asked most frequently about the BRRRR strategy: where to find a lender who will do the ARV refinance to get your cash back out in less than 6 months? For us, this is the most important question in the BRRR analysis. Being able to refi in 12 months seems pretty common from conventional lenders, but less than 6 months is the big hurdle. Although the properties we're looking at for flips could potentially be BRRRR candidates, we haven't gone in expecting to do a BRRRR for this very reason. We want to make sure we can get that refi on our timeline so our cash isn't tied up for so long. Until we find it, we're focusing on flips.

@Billy Maloney - if you do find a lender who will do at least 70% ARV in less than 6 months please share! We're looking for the same thing. I really would like to understand why a bank cares if you hold a property for 6 months or 7 months or 12 months. The ARV is the ARV, particularly between that 6 and 7 month window where little changes in most markets. It seems like an arbitrary "rule."

Hi @Avery Kolber - congrats to you for already having that much saved up to jump into investing while in college! If you haven't already, I'd suggest you find some local investor groups to get involved with in the areas you're looking to buy in. Your fellow investors will have great advice and connections for you. You can put a shout out here on BP looking to join a Tallahassee investor group. Chances are good there's more than one group in such a large population center. Best of luck to you!

@Claire Fenton - we happen to be talking with Jonna already. We would be happy to set up a time to meet with you while we're in the area.

@Jason Hawk - I was just reading a report on the markets from BP published yesterday called the Best and Worst Markets for Residential Investors in 2016

http://biggerpockets.us1.list-manage1.com/track/cl...

Kansas City MO is listed as one of the stronger markets for rent to value ratios. Are you active on the MO side also, or just in KS? My wife went to college at Mizzou so she's familiar with Columbia and has urged me to look there, but it's a long way from CA from where we're located so I've been a little hesitant just because we have opportunities here we're involved in right now.

@Claire Fenton - are there any property management firms you recommend in and around Boise? We're heading there over the Thanksgiving holiday and want to do some research and networking.

@Nathan Carter - we're headed to Boise over Thanksgiving to visit family and wanted to poke around the Boise real estate market when we're there. Are you seeing better deals in surrounding areas, like Nampa? Any suggestions on where to look that are close enough to the Boise metro market for commuters but far enough outside the area to be more reasonable in value?