All Forum Posts by: Clint Jusino
Clint Jusino has started 6 posts and replied 151 times.
Post: BRRRR vs. new development
- Dallas
- Posts 154
- Votes 94
Quote from @Ryan Daulton:
I live in an increasingly expensive market. What are the advantages of doing a BRRRR on an existing property vs. buying the land and building a new house from the ground up? For example, are there more tax deductions for doing a BRRRR? I can save alot of money by just building a new house.
If I had a choice I would definitely pick the new construction. BRRRRs are alot of work to make them successful. I did one and have learned so much. Less hassle since everything is brand new. Less maintenance.
Post: Utilities Question Help
- Dallas
- Posts 154
- Votes 94
Quote from @Theresa Harris:
I have tenants pay it directly with the utility provider when possible. Two rentals I have, the water has to be in the owner's name. For those, I sent the quarterly bill to the tenants and they add it to the rent the following month.
Post: Investor Friendly Realtor in Dallas Texas. Investor in Oklahoma
- Dallas
- Posts 154
- Votes 94
Quote from @Monica Gibbs:
Hi Biggerpocketters,
I'm a licensed Realtor in Dallas, Texas, and actively invest in my home state of Oklahoma. I am excited to connect with as many people as possible and committed to adding value to this industry. Let's connect!
Post: Looking to Connect! I am Remote Investor
- Dallas
- Posts 154
- Votes 94
Quote from @Kevin Perez:
Hi Everyone!
Looking to connect with Investors who have built a Rental portfolio. I would love to pick your brain on scaling and any major obstacles you had to overcome and strategies used to grow your portfolio!
Thank you in advance to everyone's advice! :)
Post: New investor in Philadelphia need networking and mentoring
- Dallas
- Posts 154
- Votes 94
Quote from @Ifeanyi Okoye:
Hi everyone my name is oscar am a new real estate investors looking for network and mentoring to buy my first flip property.
every help from investors friendly agents to lenders and seasoned investors will be highly appreciated.
Post: Looking for assistance analyzing deals
- Dallas
- Posts 154
- Votes 94
Quote from @Tyler Zepp:
Hi Everyone,
I am a new agent who is running deals through the bigger pockets tools. I would love to send someone my deals I find to "approve" them and tell me what they like and don't like about the deal. and if you do like them we can buy them!
Thank You,
Tyler Zepp
Hello @Tyler Zepp I'm happy to help. Just remember any deals I analyze is my personal opinion and you will want to get a few opinions before pulling the trigger. DM me.
Post: Exit strategy help
- Dallas
- Posts 154
- Votes 94
Quote from @Kieran Dowling:
I have offered that and they do not want to carry anything for more that two years. I wish i could do that!
Right now we have a contract that states we have a ballon payment/what i owe them is due before or at 2 years.
I am paying them 500 a month untill i pay them off. 2 years max.that is why i am looking at refinacing
Post: Exit strategy help
- Dallas
- Posts 154
- Votes 94
Quote from @Kieran Dowling:
So my parents are buying my first fixer upper for me all cash in there name.
We have created a contract that states i have to pay them back within two years via refi to get it out of their name and into mine.
What would be the best way to go about this. Heloc, cash out or any other strategies?
Post: Seeking advice on How to structure an RE partnership??
- Dallas
- Posts 154
- Votes 94
Quote from @Tyson E Keslar:
I am a remodeling contractor and have a long time friend/acquaintance with significant resources and capital. We are considering a partnership where he provides funding and I will manage the projects. Our focus will be long term buy and hold multi family units. We are trying to put together a business plan that works for the both of us. Looking for advice and recommendations on how to go about structuring such a relationship?
@Tyson E Keslar I have a friend who asked a similar question. This is the responses we have received. It's alot to think about. I hope this helps.
"There are many things to consider in such a situation, it is not black and white but a relationship has to begin with trust. You can say that in some situations a 50% / 50% will work in other it won't. This has to be evaluated case by case. Basically the other investors is acting as Realtor , property manager and manager overseeing the flip in this case. Considering general scenario 10% for property manager and 3% for realtor and manager say 5% or fixed fee the 1st investor cost is coming to 18% so adding 5-10% on basis of future deals and partnership I can think of 25% - 30 % would still be great deal for 2nd investor."
Post: How much should my tenant make if Rent is $1,680, in the DFW area?
- Dallas
- Posts 154
- Votes 94
Quote from @Kevin Sobilo:
@Tiia Hyrske, the common benchmark is GROSS income 3x rent. So, $60,480 in household income per year.
However, I personally go 1 step further as many people have outsized debt obligations. relative to their income.
I also require:
Rent + Monthly Debt <= 45% of GROSS monthly income
Example: So, someone making $6,000 per month ($72,000 per year) meets the initial income requirement BUT if they have a $750 car loan, $250 child support payment, and $250 credit card payment $1250 total then
$1680 (rent) + $1250 (monthly debt) <= 45% x $6000 (monthly income)
$2930 <=$2700 (DENIED)
I like @Kevin Sobilo method. Very creative. I feel this is the best way to handle this situation. Another question I have is your future tenant going to be a section 8 tenant? I currently have one on my second rental and the strategy above doesn't apply. The government for my tenant is paying the full rent amount due to low income. I did do a background check, credit score, and talked to the previous landlord to ensure they are responsible. Good luck!