All Forum Posts by: Gerardo Lewis

@Tyrone Osilesi thanks I appreciate the input 1 thing is I'm a realtor myself and the most recent comps I come up with seem to be lower than what I expect this place to be worth because they were bought as is and the conditions they were in was pretty bad and the new owners haven't done anything to bring them up.

Hey guys Im trying to pull off a BRRRR in my area and I'm curious to know exactly how can I estimate or determine the ARV? Is it by comps in my area? or Is it best by using the rent that it can command after the rehab?

@Jay Ingersoll thanks I will definitely take a look at that right now. One last question for you then, when it comes to insurance will I be able to just contact my insurance company for a rough estimate for insurance on the property or is it better to get the price the current owner pays for?

Hey guys I have prospective multi family property in Gainesville, Florida that I'm having trouble with calculating the NOI to get the cap rate so I can get an idea of how much to offer the owner when I get in touch with them. I'd like to have most or all of the info I can have before speaking to them because this will be my first time trying to get owner financing. Do more experienced investors have any tips for finding that info or is that something I can only get from the owners? With that being said too what if I run into a situation where they don't keep track of the finances like that?

Also @Nick Ferrari is it the norm for PM to have access to an account with money from the owner? About a month ago a pipe corroded in the front yard and started shooting water everywhere I got it repaired but the owner doesn't live near by so I had to pay the plumber with my own money. It wasn't a lot so I handled it and got paid back. In the future though I don't want to have to use my own money if I don't have to. I feel like that is something the owner and I should have set up just in case for next time. I'm just wondering if that actually makes sense or am I suppose to wait until the owner is able to send money for repairs/ maintenance.

Thanks @Nick Ferrari I'll speak to one of them and see what they tell me.

Hey BP so I just got my RE license in gainesville, fl and I have someone who wants me to manage her property. I've managed my own for 3 years now with no major mishaps or anything but someone else's property will be a test. I'm wondering if I can/ should get a PM contract written by an attorney or can I get one online that is pretty comprehensive.

Hey BP so I just got my RE license in gainesville, fl and I have someone who wants me to manage her property. I've managed my own for 3 years now with no major mishaps or anything but someone else's property will be a test. I'm wondering if I can/ should get a PM contract written by an attorney or can I get one online that is pretty comprehensive.

I don't know if this is an open discussion for random people but I think what's holding me back is being a little scared. Right now I'm actively looking for a multi family to use the BRRRR strategy on, I have a list from list source and will be sending out letters soon but I don't exactly know where to start and if i ever have a question I don't have a mentor to run my questions by. Also if I've never done the BRRRR so I don't know how to exactly go about doing it. Lastly money for a down payment.

Hey BP 

I'm trying to execute a BRRR here in gainesville, fl and I'm curious if anyone on here has any lenders in mind that could help me in doing this. I won't lie, I don't have any properties under contract but I'd like to start a talking one or some. I already bought a list from list source for absentee owners in the area and will start contacting them by next week. Also if anyone has any tips on doing a BRRR it would be much appreciated or articles on here you guys feel would be helpful. Thanks in advance.