All Forum Posts by: Leandro Rodriguez

@Nat Chan  I remodeled four properties in Miami so far and none has required upfront full payment. Three of those have required about 30% upfront and the last one I was able to negotiate a 20% upfront and 40% upon full finishing with a payment in the middle at 75% progress which I decide fairly "liberally".

Like any contractor, I had my issues with quality and timing but the retention of  funds always made the discussion cordial and allowed me to reach good resolution.

I can provide a couple of contacts offline. One contractor is OK, the other is quite a bit more professional. Both need strong management.

Oh, and sink the money and redo the work NOW. don't wait for later.

Hi, looking for a portfolio lender to do a cash out refi on investment property that is owned outright.

Property can appraise at $100 to $120k conservatively. I am looking for a 70% LTV.

Credit score of 699 to 710.

3 years removed from a past foreclosure. Credit fully re-established and currently carrying an FHA on primary residence.

Money will be used to expand portfolio through TK properties.

Hi @David Rudaitis - do you have a list of properties I can see? Looking to get into the KCMO market. Thanks.

I am interested. keep us posted on this thread if it you organize one. i don't volunteer because i have a JOB besides investing and travel intensively - but definitely interested in 

attending.

Hi to all Toledoeans - looking at an investment in the 43610 zipcode, on the edge of Old West End.

Out of town investor that will use professional PM.

I  interested in experiences about the are, trends, crime rates, vacancies, vandalism, quality of renters. Thanks!

You are going to have to start leveraging your downpayment. Assuming you have several good cash flow properties and some equity in them, you can leverage that for cash, and then leverage that cash for a equity line. I am learning about this as I am in the same situation. Go to the invertor marketplace and ping a few of the people there offering these type of loans.

Thanks Carlos.

@Ryan Phillips can you send more details in private? My profile has my email. Do you have info about expenses and any potential repairs needed?

@Carlos Rovira do you have a wholesaler to recommend?

Not legal advice. Follow at your own risk.

Check local laws.

Insurance under LLC's might be different (conditions and costs).

LLC is also a cost, to form and to maintain.

I am not in the same league you are, but was thorn btw LLC or Personal Liability+Umbrella a few months ago. I networked, got two RE attorneys recommended to me and had a sit down with each one. Ended up going the insurance way.

Now, I have the equivalent of 3 doors. With as many doors as you have, the chances of getting a bad tenant skyrocket so I would probably add an extra layer of security putting each property on an LLC.

Do proper research on how to structure the LLC to avoid "veil piercing" - you want to make sure you have all the documents, articles and OA in place, properly filled and maintained.

Good luck and congrats.