All Forum Posts by: Chris Tabanico

Anyone know of good local real estate meetups in Branson, MO?

How'd this pan out for you @Kevin Charles? You end up buying a property?

Yes - Very good experience. Basically, here is the process.

1. Call them - talk to them about your deal.

2. Provide all your docs (comps, repair details, entity docs, Financials such as paystubs, W2, bank accounts).

3. Include your credit report up front (can get the one from Experian ) . This prevents them from running your credit up front and declining you after for something. This is what many other HML do after they take an upfront fee. You get none of that BS here with this company.

4. You’ll be in review at this point and it’s pretty quick if you have a good deal, track record, and solid Financials. 

5. Sign your closing docs, close with a local title company/attorney and get started with your deal.

All in all, I closed very fast with them but that’s also because I literally received the email with what they needed and uploaded it immediately and anytime they needed anything, I acted with urgency. I’m happy. Pricing is reasonable and met my expectations in comparison to others. I’ve worked with many other hard money lenders who are now classified as “do not work with” because their process, or lack there of/pricing/in ability to close quickly and DCP has by far been the best experience.

Apologies in advance for the novel, but hope it helped. 

30k is definitely excessive. Call Morris with M&H Air Conditioning Services. Honest hardworking guy who I think can help out here. Good luck! 

Being an out of state investor, when doing my initial research, I was looking at zip codes. As @Darrin Carey and @Ozzy Smith mentioned, it can vary block by block. I have a few rentals in that area and there are certain pockets that are performing well. Anywhere from 650-725 for rents. There are a few additional projects I have going on now that will garner 750-800 based on my preferences for “nice” rentals. What really helped me was networking with folks and taking trips to scout areas that I wanted to target. Good luck! 

Yes - Building relationships is the best way to get the deals. Then do repeat business and it will be much smoother. Real estate meetups are the best way to do this. A few steak dinners also go a long way too ;) 

Good luck! 

Use the county site and factor in the value of your purchase price versus that of past to get close to what it will be when you have it in your possession. Some of the other sites may have incorrect information or are using 2016, 2017 numbers etc 

Hi Shannon,

Welcome to BiggerPockets! In my experience, BiggerPockets is a great way to network as well as Facebook. The best method is still the good old fashioned face to face interaction with like minded people. Real estate investor meet ups are the best forum for this so you develop relationships with your buyers. Connect with @Jamie Gruber for a local meetup that may have your same goals in mind. There are also many groups that can be found on here as well as Facebook. Happy Networking! 

Hi Ryan - What are you looking for in terms of bedrooms/bathrooms? Also, what is your budget? I would prefer a sale but I may have something coming up where I would be open to considering a short term rental. Not necessarily in Springfield, but it is close in nearby New Carlisle. 

Hey Chris,

Congrats on taking action. With this, I believe you would need to give some more information. Forgive me for bombarding you with questions below:

What's the ARV?

Is there an HOA amount?

Who pays utilities? If it's you, what are those amounts? 

Will there be a property manager or is it you that will manage?

What are your hard money + holding costs? Don't forget these because some banks won't refi until you have a proper seasoning period. 

What are the closing costs for both the home and then the refinance?

What are the annual property tax and insurance costs? Will these be included in the loan?

Factor in the above because every dollar counts. Based off a loan amount of $78,400 at 6% interest and Annual Property Tax of $1,280 and Insurance $750, your payment would be approximately $639.21 

Factor in 20% percent for vacancy, repairs, and property manager fees and your left with $752 for a profit of $112.79. 

Strongly suggest you to use the BiggerPockets Calculator as well as look into Lease Options as that might be another exit strategy to save on the repair, hoa, property manager costs. 

Apologies in advance for the novel. Best of Luck!