All Forum Posts by: Chad Duval
Chad Duval has started 9 posts and replied 94 times.
Post: purchasing additional rentals
- Rental Property Investor
- Boston
- Posts 103
- Votes 21
Originally posted by @Jon Dixon:
I am wondering what the process is to getting financial help so I can aquire more rentals. I currently have 6 units. I am in dayton ohio. Thank you
Have you already gone to the bank? You can usually get funding for up to 10 properties before you have to go private.
Post: Cash Flow or ROI? Which number do you focus on most in an investment?
- Rental Property Investor
- Boston
- Posts 103
- Votes 21
Originally posted by @Joe Villeneuve:
@Carrie Cathey Cash Flow....11 out of 10 times.
Agree 110% here...
Post: What's the next move? Needing advice...
- Rental Property Investor
- Boston
- Posts 103
- Votes 21
Great explanation, @Brandon Hall!
Post: Seller financed down payment
- Rental Property Investor
- Boston
- Posts 103
- Votes 21
I love this strategy of having the seller hold a second. Does anyone have an example of this working with the new bank guidelines?
Post: Looking to buy first investment property under an LLC
- Rental Property Investor
- Boston
- Posts 103
- Votes 21
Make sure you notify your lender (beforehand) if you transfer the title to an LLC. It could be grounds for them to call the loan. It's very unlikely to happen, but it's possible.
Post: Wholesale for 10k or flip for 30k?
- Rental Property Investor
- Boston
- Posts 103
- Votes 21
Originally posted by @Brent Coombs:
@Ryan Dossey Or a third option:- take Title and rehab to HOLD! Your retirement income may well rely on the "slow dimes" you choose to ACCUMULATE.
Or are those sort of deals in your area a "dime a dozen"? Because once you sell, you have to keep repeating the process ad nauseam - then when you do retire, will you have kept enough?
Whichever option you choose, looks like you're on a winner. Congrats...
I tend to like agree with Brent, but it all depends on your own investment strategy and end goal.
Post: Mortgage or no Mortgage?
- Rental Property Investor
- Boston
- Posts 103
- Votes 21
Leverage, leverage, leverage...
Post: Negativity and skepticism from family
- Rental Property Investor
- Boston
- Posts 103
- Votes 21
They hate us because they ain't us...
Use BP to escape the negativity and surround yourself with like-minded investors!
Post: New Landlord Seeking Advice!
- Rental Property Investor
- Boston
- Posts 103
- Votes 21
Originally posted by @Daren H.:
@Taylor Comer
Go to the top of the BP website under Resources and check "FilePlace". You should be able to find spreadsheets, forms, etc that might be a good starting point. I have no issue sending you my cashflow worksheet as well if nothing works for you. Good Luck!
I second this... it's a great tool that I used when I first got started. Also, check out Evernote. I use it to stay organized with my day-to-day tasks.
Post: Have you used any of these creative financing methods? Wanna be in a book?
- Rental Property Investor
- Boston
- Posts 103
- Votes 21
House hacker here, @Brandon Turner!
Here are the bullet points:
- Purchased a 3/2 last year with 100% financing (only $500 out of pocket for inspections)
- Seller paid all closing costs and I actually received $289 back at closing
- Converted an unfinished basement (where I live now) into a 1bed/1bath "suite". I built the "kitchen" as an awesome bar so that when I sell the house in two years (to avoid cap gains tax), I can sell the whole house as one 4bed/3bath with a basement bar. In the mean time, I lock the door that separates my walkout basement from the rest of the house and rent the upstairs to two roommates.
- Mortgage, taxes, insurance: $1,369 a month
- Rental income: $1,550 a month
- Cost of construction: $6,000
- When I sell next year, I plan to make roughly $60k in profit after all closing costs
Let me know if you want any more details because I'd love to be in your new book!