All Forum Posts by: Account Closed

@Charlie Fitzgerald   Awesome!  Well said and the same model I am following.  I think the key to helping your portfolio grow quicker is when money on hand is leveraged.   The only caveat as you stated is not being over leveraged and keeping reserves at all times.  Also making sure the investment is a properly vetted deal.

@Benjamin Voorhis Good luck to you!

@Kelly Tucker

My husband and I have been doing a live in flip for 3 1/2 years.  Almost done and cannot wait for this to be complete.  A lot of lessons learned for sure and things we would have done differently.  Looking back we should of hired out more people to do work.   Because my time is worth money and the time we have spent has been considerable and we have lost time with our children because of this house.  My suggestion is sometimes it is okay to pay a professional to do work if the "time" gained is greater than the dollar amount lost to pay someone.   I can only say now that I am at the end of our live in flip, that it has been a great experience but I am not sure if I would take such a large venture on again unless I had hired contractors to quickly renovate and then be able to live my life.  So calculate your money VS time when evaluating repairs on your soon to be home.

Good luck to you guys!!!!

As my experience and credentials grow in RE I reflect back on actions taken or not taken or being educated or not being educated.   Sounds like a conundrum because essentially we need both to be successful in RE or any venture in life at that.  

I have come to realization that this topic is similar to the Time VS Money topic.  When you ask someone which would you rather have.... Money??  Time?   The answer is, "well I would like both."  The same answer I would say is relatable to action or education.  Both are needed in my opinion to be successful. 

So which defines success faster or safer or better? Neither or both is my answer because they are both related equally to succeed.  In the long run overall experience will help the person taking action and give them the confidence to make decisions that yield the best result.  For the person starting out, it takes time to achieve great success and that is why slow small steps can bring the best outcome.  Therefore action will help achieve the experience and education as long as it is calculated risk and understood action.

Educate yourself, take action, slow steps.  Better to have lived than not lived.  Don't be afraid of failure.  Failure and the motivation to keep trying will help a person achieve greater success than to of not tried at all.

@Regina Thomas

Your first deal (time) is what you want it to be.  Sitting on the sidelines going to seminars, reading how to books only go so far.  Getting your feet wet is where you learn.  Now I say that because you should for sure do some due diligence and be educated in what you are going to do in real estate, however nothing speaks greater than actually doing it.  So question back to you...........when do you want your first deal to transact?  The power is in you 100%!

Kyle,

Welcome to BP, a tremendous wealth of knowledge.   Glad to see another fellow Alaskan on the posts!!

@Patrick Zanders

Thanks!

@Brent Coombs

Ha! Sorry that info wasn't needed :) For clarity the LTV or amount paid isn't necessary for the scenario.

Taking the LTV info out of the picture I should of more clearly asked if this can be cashed out w/a portfolio note overall properties? I was hoping these could be refi'd off group ARV of 500K @ 70%? Giving me a 350K note?

I am curious to hear from portfolio lenders on what my options are in the below scenario:

--10 Single Family homes

--Package ARV 500K (50K per house)

--43% LTV

--Paid cash nothing owed.

--All renovated/performing properties with tenants and leases.

Question, will a portfolio lender cash out refi something like this @ 70% LTV? If so or not what are the terms?

Summary:  Looking for a option to pull my cash out and have a note.  Properties would still cash flow very well after note and all mx, vac, ins/tax expenses.

Thanks in advance for any knowledge in this area.

V/r,

Desiree'

Doug,

Welcome.  I am similar in what you are doing.  I have buy and holds in various States and now investing in notes.   I am also interested in purchasing some more homes in Ohio to build my portfolio there.  I have one so far and would like to pick up a few more and help that grow.

Note investing is awesome as I don't watch the stock market everyday.   I earn a double digit return and sleep at night. 

How large (units) of multi families are you involved with in the States?

Kari,

First welcome to the beautiful State of Alaska!  Second, good on you for taking the RE plunge.  

It is a very small world here in Anchorage.  Use BP as well as local real estate groups and investors for information and help.  

Good luck to you.  Remember education is really important but action is the most important part of the process.