All Forum Posts by: Elizabeth Aguilera

We are moving to Ann Arbor for a few months and want to purchase a SFR to live in that we can BRRR. It has to be livable but needs work, updates, TLC, etc. Looking now for fast closing. If you have something that qualifies, please reach out. We are pre-approved and have 15% down. Lender is local and ready to assist. Thanks! Welcome all offers, and comments from agents, wholesalers, lenders, others.

What is the current value and what year did you purchase it? This is an incredible price for Pasadena so I assume it was quite some time ago. Can you share more about the tenants? Did you keep the tenants or increase rent when you purchased it? How much below market are they and what is your plan going forward? You can raise it a certain percentage each year and you definitely should. Great work! I'm in Pasadena also and would love to chat.

This sounds really great. We are super interested in joining such a mastermind.  

Hi @Amanda Jacobellis, we'd love to attend. I tried to rsvp through the website but it said I needed a special invite. Let me know the best way to respond.

We invest out state but are looking to go more in-depth. 

Thanks!!

Who is the contact for meet-ups in Pasadena? I'd love to connect. 

Hi Nicholas, we are local buy-and-hold investors and we can help you with some aspects, especially with finding a tenant. Feel free to DM me. 

I'd be interested. We are in Altadena and have had rentals here in LA (currently looking for another) and in two other states long-distance. We are starting to engage with private money for our next BRRR's too. We'd love to get together with other BP RE folks in the area.

Thank you @Alex Breshears for your response. We had an email exchange a couple of weeks ago too. I started out looking for a lender like your firm but ended up with a private lender who is a friend. I appreciate the details so we can make sure everyone is protected and comfortable. I have already ordered the book. Can't wait to check it out. I found you on the BP podcast a couple of months ago. 

Thank you @Chris Seveney and @Riaz Gillani! 

This is a family friend so not someone who would have his own lender docs or term sheets. I've done a google search but I'll definitely reach out to a RE attorney so we have something solid for our friend and for us. We've previously invested with our own cash and traditional loans but are now launching into using OPM. We want to make sure our investors are protected and that they feel comfortable with the process since many have not done this before. If you have any recommendations for attorneys please share. I'm in California but that person doesn't have to be here if they are recommended. Thanks again!

We are ready to borrow from private lenders who have agreed to work with us. We need a contract to borrow the money and to lay out the terms of the loans. Is there a template on BP? I looked but did not find one. Or what is your best advice for creating a contract that covers all the bases of a private loan? Also, what if the lender and the borrower and the property are in three different states? Does that play into the way the contract is set up? Thank you!