All Forum Posts by: Clarence Harris

Hate I missed it.  Was out of town on a business trip.  Does anyone have any new revelations they would like to share?  I have one

  I don't know if Eric shared it,  but I went to see Eric and he knows some (what we call) hard money lenders

Also, SunState will do a 100% HELOC for those investors that want to use some home equity money like cash.

If you have a Personal Line of credit, "typically" that CANNOT serve as a down payment. However, a HELOC can because technically its not borrowed money. Its your own equity.

See you at the next one!

@Clarence Harris @Bryan Marin @Danilo Dias @Reid Ferguson @Thomas J. Clifford @Christopher Sarmiento

@Jenn Barona @Jennifer Turner @Andy Nguyen

So a rep from rentometer reached out to me personally and gave me the discount code because of this post. That speaks directy to the power of BP. Sure, you could search craigslist, or Zillow, or some other source to figure rent but its pretty freaking cool to have it right there in the analysis tool on my BRRRR calculator. Shoot, I could create a spreadsheet on excel and not buy the BP calculator... but i bought it anyway, so...... The code is BP60 and BP50. The BP60 is for $60 off of the yearly membership. The BP50 is for 50% of the monthly membership. YOUR WELCOME!

I just put it on my schedule.  I learned so much this past meeting.  As a newbie, Im interested in meeting other newbies on the 23rd!  Thanks Shawn and Eric!!!  I plan on meeting with you two sometimes during this week.  

Is there a rentometer discount code? Apparently I have been analyzing my A** off. I didn't realize there was a limit. $199 pro version of rentometer is available from the website.  if I can save a few more dollars, I would like to.  

For the record, and before anyone comments, I am exploring different markets.  No, I don't have a property manager on the ground in every city USA. So, I have to count on rentometer........ for now.  

@Shawn K Hicks I’m on board!

I have found a real estate market where some houses are approximately $10,000. The ARV may be less than 50k. Will banks refinance any appraisal amount? Is there a minimum? In this scenario, 70% is 35k.... would a bank even touch that?

@Shawn K Hicks I think I have friended everyone in this post in an effort to figure out when is the next meet up for October?

So, i have been looking at properties in the gainesville area. I have been plugging numbers left and right in the BP calculators, however, without a home inspection, or contractor on site, it has been difficult to trust the numbers. In particular the rehab numbers. I know what my money will cost (interest rates), but the rehab?..... different story. And to me, the biggest piece of the pie is rehab for my BRRRR strategy. I mean, we do have rentometer, zestimates from zillow, comps from zillow, amoritization calculators, but on a major rehab job.....(speechless).

Now, most say to pay a contractor a few dollars. Well, I guess, but this could get costly. Sure invest in your business you say. But, is there a repeatable strategy you use to mitigate this cost? Every house is different. Does Jay Scott's book really lay it out? Is a REI agent the answer to get close before you make the offer. Going wrong here, would not be ideal, if you plan to make money on the refinance. Since, i'm borrowing money, this has to be right. So i can get away from the banks. okay, rant over..... I NEED ADVICE.... GO!

So, i have been looking at properties in the gainesville area. I have been plugging numbers left and right in the BP calculators, however, without a home inspection, or contractor on site, it has been difficult to trust the numbers. In particular the rehab numbers. I know what my money will cost (interest rates), but the rehab?..... different story. And to me, the biggest piece of the pie is rehab for my BRRRR strategy. I mean, we do have rentometer, zestimates from zillow, comps from zillow, amoritization calculators, but on a major rehab job.....(speechless).

Now, most say to pay a contractor a few dollars. Well, I guess, but this could get costly. Sure invest in your business you say. But, is there a repeatable strategy you use to mitigate this cost? Every house is different. Does Jay Scott's book really lay it out? Is a REI agent the answer to get close before you make the offer. Going wrong here, would not be ideal, if you plan to make money on the refinance. Since, i'm borrowing money, this has to be right. So i can get away from the banks. okay, rant over..... I NEED ADVICE.... GO!