All Forum Posts by: Clint Jusino

Quote from @Randall E Collins:

I have properties for wholesale, cannot locate investors in my area, WHY?? 

Hey Randall. I'll send you a DM. I'm an Investor and have a few friends who are Investors as well in the DFW area. Let's connect!

Quote from @Ali S.:

Hi everyone,

I just purchased a property yesterday. My father also has another property that I am a cosigner on, he tried to get a HELOC but was rejected due to low income so I'm wondering if I can come and qualify for the HELOC even if I just purchased another primary property?

Thank you in advanced!

Helocs is borrowing against your home. If your a cosigner you should be able to get a heloc. It doesn't hurt to apply. Why is your dad requesting a heloc? There's other methods you can look into like cash out refinance or DSCR loans.

Quote from @Bradley Babineaux:

I am currently working on trying to wholesale my first deal. I am shoppping the property to potential buyers. If this falls through, I am thinking of just taking over the mortgage myself in a subto deal. The issue is the property needs a good bit of work and I dont have the capital to do the repairs, like a roof replacement. Would it be smart to take over the property,do all the minor repairs myself to make it liveable for a tenant and get the ball rolling on rent and save up capex to do bigger repairs later? 

Thanks in advance!

If I'm not mistaken you can do a DSCR loan which would fund the purchase and rehab. I plan to do this after my BRRR is completed at the end of this month.

Every location is different. I'm currently doing a BRRRR on my 2nd rental property and can share some much I have learned thus far. My 1st rental was a turnkey. Get a few estimates from GCs and then you can get an idea. Also get contractors to do a walk through so you can get a ballpark range. I'm willing to help in anyway I can. DM me for more details. You got this!

Quote from @Juan David Maldonado:

Hey!

If a single family house is in a B or C class neighborhood. What makes the rental appealing to potential tenants? For example a 3/1 vs a 3/2 configuration? 

Thank you! 

I'm currently in Dallas market and I just purchased my 2nd rental. It's currently a 3/1.5. I plan to upgrade to 2 bathrooms after the cash out refinance. I feel tenants don't care as much. They care more about the number of bedrooms. You can always upgrade the home later on.

Quote from @Sami Gren:

HI,

I am using a contractor for a full apt gut rehab, I would like to know if anyone has a contractor's contract that I can work off (of course will add or take off accordingly) he is a new contractor, so he doesn't have one,  [I am using him because I have used him for past several years on smaller projects, so I know to trust him.]

Thank you

Hello Sami, I used to live in NJ. Woodbridge to be exact. I'm down in Dallas at the moment. I'm currently in the process of doing a BRRRR on my 2nd rental property. My contractor has provided me a contract bid. I can send to your email address. DM me when you can.

I just closed on my 2nd rental and they asked me this as well for reserves. They said I need roughly 10 to 12k for reserves so I provided it to them. It was during the whole underwriting process. I hope it's quick and easy to get that information to them. Congratulations!

Quote from @Daniel Tisdale:

Hi all,

I have an old 1962 house in Austin, TX that has been used as rental for the past 2.5 years. This was originally my primary residence and I am trying to get advice on how I might be able to rebuild a new property and flip it. How does someone typically finance these types of projects? I bought the property at about 2/3 of the current value and would hate to have to sell it to a developer to reap the benefits, but I don’t have the cash on hand to rebuild it myself.

What does someone typically do in my situation?

Thanks,

Daniel

I just bought a house that's 1963 in the Dallas area. I'm currently renovating it to rent it out. I plan to BRRRR it out. Have you thought of just renovation to make it more modern? Those houses I have learned are built to last. My current contractor is so amazed at how well it was built with all real materials. I say renovation it and keep it. I heard you can do a DSCR loan that will help with your finance situation.

I'm a fairly new investor as well and just closed on my 2nd rental property. An investor friend of mine sold it to me for a slight discount (185k). I had to cough up roughly 43k which was not easy for me. It truly adds up. I had to pull funds from my IRA, 401k loan, emergency savings. Now I'm looking for funds for the rehab. Keep learning and build that credit up and emergency funds. When the time is right it will happen. Also network with folks. The reason I got this property was talking about Real estate with the guy while playing Pickleball. It's a small world.

I would see if you have any friends who are in a similar situation and try to shadow when the Contractor is around to get bids to get estimates. Some contractors are willing to walk through your property for free to give you bids since they want your business. I'm located in Dallas area and am currently working on a rehab project on a rental property I have purchased that I plan to BRRRR. I asked the contractors for a bid and they are all happy to come and walk thru the property free of charge. I've had 5 contractors come thru and now I have estimates for all of the projects and now have a rough idea how much it cost for each part of the rehab. Also see what level of rehab you are planning to so. I'm around level 2 for my project.