All Forum Posts by: Clint Jusino

We have just completely renovated a SFR (from the gound up, everything new, foundation, roof, HVAC, etc.). Our intent was to sell, but we are not having luck and need to move in another direction, carrying costs are draining us. Our construction loan is nearing the point we need to convert the loan. We are exploring keeping the property, at least for a while for a STR, already know ok per city regs. Prefer not to rent, but open to any other options you can offer. We are exploring refinancing with our bank, however, I feel there are probably better options out there, along with rules with this type of investment, holding times, etc. that we just don't know. Help me, tell me what I don't know that I need to, and any reputable contacts for financing options, etc. I can research. Thanks in advance.

I have noticed that many flippers in my area have taken courses from the various gurus but otherwise are blissfully ignorant to understanding rehab costs. I was thinking I would create a course that involves a field trip to one of the flips I am working and pointing out all of the things they should catch and helping them understand rehab costs at a line item level.

I am an expert in electrical and learned plumbing in the Coast Guard. I will show them how to make certain repairs in a hands-on way as part of this field trip.

I am thinking about charging $500 for this offer. Is this a good or bad idea?

I doubt any basic Mom and Pop flippers are getting discounts on materials. Maybe corporate flippers, or some that have dozens (at least) of flips under their belts.

Why would material suppliers give a discount to a first time flipper? Makes no sense....

When I was a GC, of course I got huge discounts, plus gifts and game tickets, etc...but we spent sometimes hundreds of thousands of $$ per year at these suppliers. That makes it worthwhile to them to offer huge discounts - becuase they more than make it back.

Hey all! 

I am a Realtor, Active Duty member, Real Estate Investor and big rehabber in Texas! I have a handful of long term rentals and have assisted in short term rentals, but only by so much. A business partner of mine and I are getting into flipping soon, and I have learned a lot through my other experience, but I am reaching out to see if y'all have any suggestions for books regarding flipping. Thank you!

Kaitlyn Beard

- Abilene & Bastrop Texas

To answer your first question first, yes you should diligently screen all tenants whether they are voucher holders or not as this increases the chance that you will place a tenant that will not damage your property. One thing I highly recommend (whether they're voucher tenants or not) is to make a visit to their current residence part of your screening process. It can come at the very end so that you're not wasting your time (and theirs), but the kind of long term damage that a bad tenant will cause to a property is not something that they can quickly and easily hide so you want to get eyes on how they are currently living.

The age of the house has nothing to do with section 8. You can generally place a voucher tenant in any property.

In order to place a section 8 tenant you will have to pass an initial inspection as well as an annual inspection where they tend to be more strict and have you fix things that you may not have addressed for a market tenant. So yes, maintenance costs can be higher.

Happy to answer any other questions you may have. Also, this is a pretty comprehensive book on the subject: https://www.amazon.com/Subsidized-Comprehensive-Government-F...

 I’ve read many books on investing in real estate and realized that it’s not a day to day job. It’s highly passive and there not much to do other than network and marketing. Group meetups are not too often and I would love to be around people on a daily basis. It’s more of a need to do a job on a daily basis and work with others. I don’t have a salaried job right now but plan on getting one soon. I was curious if many investors also have jobs. 

Hi,

I'm thinking of doing Investment Property conventional Refi.

I had my current loan for about a month, and previous loan for about 2 months. I did refi on these.

Is the requirement now to hold the current loan for 12 months(or time since buying property?) to do the cash out refi, for conventional loans like Fannie?

Also, we can take out up to 75% of equity? So, if we have 50% equity, we can take out 25%?

Hi everyone! I'm getting ready to tackle my very first BRRRR and I wanted to see if the community could share some common mistakes to avoid? I have only purchased turnkey properties in the past and I'm looking to learn from this amazing community what some of the common pitfalls are that I should avoid. Thanks for your input, and happy BRRRR'ing!

It depends on the zoning. If it is zoned SFR, Duplex, Triplex, Quadplex it is considered residential from a lending standpoint. If it is zoned 5+ MFH, Mixed Use, and other commercial uses, then we would look at it as a commercial property.

You just described a rent by the room which would not classify a duplex as a commercial property. It is still considered residential since it is zoned as a duplex. 

Now if there is a bar, restaurant, retail, or other commercial use and its legal, then it could be considered commercial from a lending standpoint.  

I’m looking to start BRRRRing once I develop my portfolio and get some skin in the game. I plan to start off house hacking small multifamily properties and transition into BRRRRing properties. I just wanted to know some issues you guys faced when you first started and any advice I should know or be prepared for.