All Forum Posts by: Dustin Pavlik

What companies are the best to use? Who has the best rates/fees, etc? Who works well with first time flippers? Any info would be helpful!

I am looking into private money lending sites for house flipping and was curious about others experiences. What sites have you used? Which have the best terms, etc? Which sites work with first time flippers? Any knowledge on the topic would be helpful!

@Benjamin Vail

Yes you’re correct that my reasoning for keeping one unit as LT would be for hedging against the risk of ST. I like your idea and business plan that you currently have going on. My only question is, does it cost more to advertise the property with three separate listings? And how often do people rent the entire building as one?

@Jaron Walling

I agree completely. That is the same plan I have and I think that would also be a suitable FI number for myself. Thanks for the input!

I have been looking into vacation rentals lately and would like to know everyone's opinion and experiences with them. I am looking in the Clearwater/Dunedin, FL area and was thinking about buying a duplex. My thoughts were making one unit long term/yearly leased and the other short term/AirBNB/VRBO. Then I would be able to use the short term unit myself whenever I wanted to as a vacation home. What does everyone think about this idea and what experiences does anyone have in regards to LT & ST rentals in the same property? Thanks!

I am curious to hear what other investors financial freedom number is. I have read many articles/blogs saying that once your expenses are covered you are financially free, but I want to know what number investors have in their heads. Me personally, I am thinking I'd like to reach the $4,000-$5,000/month cash flow range before I call myself financially free and go full-time into investing. What do ya'll think??

So at 23 years old I’ve gotten off to a decent start at this fun and exciting real estate thing. Got my first rental at 21. Then at 22 I got 9 more rentals for a total of 10. I live in a house hacked duplex currently living expense free. Did a seller finance deal to obtain 3 duplexes for just $5,000 down. Which leaves me where I am today at 23 years old.

I really want to take my business to the next level by using the BRRRR strategy and doing an occasional flip here and there. All while trying to get my portfolio where I want it to be. My goal is to have 50 units by age 30. I have some more seller finance deals that will be coming up within the next few years, so I will definitely hop on those. However, I'm stuck at the moment because I am having a hard time getting financing for deals. The banks really won't touch me due to being young and not having a long enough track record or enough income yet. So where do I go? Just focus on private money lenders? I would really appreciate any helpful thoughts here. Thank you fellow BP members.

Gross rents look great for the price. Are all the rent and expense numbers verified? Would you have to spend cash up front to improve any of the units? How long are the current commercialand residential leases in place for, if there are any in place at all? Knowing the answers to these questions will help everyone weigh in with more suggestions.  Gregory, All the numbers are verified. The seller only did year leases. No money would have to be spent right away.

Recently I️ had this deal thrown my way on a commercial property and I️ wanted to get others opinions on it. The property is an 8 unit commercial building with 1 residential unit. It is also a seller financing deal. The selling price is $250,000 with 15,000 down amortized at 6% over 15 years. It brings in $4700/month with expenses of around $2,000. Payments would be $2,000, leaving a cash flow of around $700. I️ know it doesn’t cash flow the greatest, but I️ feel that it would be a good buy to build equity rather quickly being that it is a $250,000 property and is seller financed. Or what if I️ could get it for $10,000 down at $235,000? What’s everyone think? Need some good advice!

Jordan, The 6 unit deal was $5,000 down and $145,000 amortized over 15 yrs. amortization is the repayment of loan principal over time. My main source of income has been through my lawn care business that I️ started my junior year of college. It helped me graduate without any debt and left me a little bit of money left to invest!