All Forum Posts by: Clint Jusino

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.

1 Vote

Dallas, Texas

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.

I'm in a similar situation. One rental it has to be under my name since I'm the owner. I pay it with my CC and send them the bill. They then pay me via Zelle. The other tenant since they are section 8, I pay the water bill and the govt pays me a higher rent since I'm covering it. Best case is to get the tenant to pay all their own utilities if possible. They will run up the bill when they aren't paying for it.

2 Votes

Grand Rapids, Michigan

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!

Hello Monica. Welcome! I'm part of a DFW Investors group on groupme that I can invite you to. I'll DM you.

0 Votes

Dallas, Texas

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! :)

I would recommend to checkout your local meetups in your city. Meetup.com, Evite, FB Marketplace are great resources. Where are you located by the way? Welcome!

0 Votes

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.

I would recommend checking out local meetups like on meetup.com, evite or FB groups. I have found the most luck using those 3 sites. Good luck!

0 Votes

Philadelphia, Pennsylvania

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.

0 Votes

Cleveland, Ohio

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

You can look into a creative method called Gift of Equity. I did that with my parents and it worked out perfectly when i bought their house. You can DM me for more details.

0 Votes

Cincinnati, Ohio

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?

Wow your parents are a blessing! How about seller financing? Since they are your parents I feel creative financing is the best way to pay them over time.

0 Votes

Cincinnati, Ohio

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."

1 Vote

Pittsburgh, Pennsylvania

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!

1 Vote

Dallas, Texas

All Forum Posts by: Clint Jusino

Clint Jusino has started 6 posts and replied 151 times.

Post: BRRRR vs. new development

Post: Utilities Question Help

Post: Investor Friendly Realtor in Dallas Texas. Investor in Oklahoma

Post: Looking to Connect! I am Remote Investor

Post: New investor in Philadelphia need networking and mentoring

Post: Looking for assistance analyzing deals

Post: Exit strategy help

Post: Exit strategy help

Post: Seeking advice on How to structure an RE partnership??

Post: How much should my tenant make if Rent is $1,680, in the DFW area?