All Forum Posts by: Dennis Zwirchitz

@Joe Schaak. Joe, You always do things right and have terrific artistic eye for detail!  Always a pleasure to see your Final Product!  Thank you for sharing!

@Jon A.  Any up date on this endeavor?

@Joe Schaak, Congrats on another successful BRRRR! It was a pleasure working with you! Thank you for being so gracious to allow the sellers to come back to see the final product and have some closure. I know they really appreciated it. The place looks terrific!

@Sean Wait it seems to me a Surly or a Sandwich would go good with this conversation.  Surly Brewing Co. opens their doors at 11am.   Avoid Traffice and Beat the Lunch rush.  From a purely geographical perspective I am the Northwest guy and you are the Southeast Guy. Surly Brewing Co., 520 Malcolm Ave SE, Minneapolis, MN 55414 is in the middle , not to mention a little more unique atmosphere than your typical chain restaurant. Just a thought. I am game.

Jeremy,

I will be there. I have similar thoughts on the upsell.  Hope there is also good content day of and I will gleam something.  I am already paid and invited a friend to be my guest.

If you go lets connect.

Dennis

612 703 2646

@Turner Monroe At the end of the day the 2% rule is only one of multiple metrics used to determine a good deal. My current target on my SFR's is a cash flow of $200 to $300 a door after PM, Repairs, CapEx, Tax, Insurance, Vacancy and Debt Service. The 2% rule helps me get there. I have found keeping an eye on the fixed cost like taxes are key too. Comparing two properties hitting the 2% rule on paper, one a C class the other B class, the B class properties taxes are nearly double the C class. That was a significant impact to the target cash flow. Meanwhile you would like to think the B property will have better long term appreciation than the C property. I bought the C because I wanted the cash flow. I have planned for zero appreciation on that property. I also own A and B properties where I expect to realize conservative appreciation over time but those are 1% RTV.

 @Chris Heeren I couldn't agree more. Cashflow play today and position yourself for more of an Appreciation play in the next down market. Make money in RE in every market. I have properties in Indianapolis @ 1.7%.

@Shawn Ackerman You mentioned an "immediate delay refi" doing a cash out refi based on the appraisal and avoiding the 6 month seasoning period. Is there a specific type of lender with whom you have successfully completed that transaction?  So far even the banks that keep the notes in house and do not sell them seem to adhere to the Fannie and Freddie guidelines of 6 months of seasoning before lending off of an appraised value?

20 cents on the dollar

@Brandon Turner Please PM his contact info.  Thanks Brandon.