All Forum Posts by: Jennifer Beadles

@Cameron Riley I do a few per month, between 2-5 as loans pay off. It's just an extra income stream for me on small loans in OKC. 

@Account Closed My Indy PM is Jason Warner with Indiana Property Management. I found Jason after my first PM had trouble renting my units, after switching to Jason it was rented within a week.

Jason also has a renovation management service for out of area investors, and his handyman is fantastic!

@Shaun J. Valuing lots is really hard, because the value is based on what can be built. Zoning makes a big difference in the value of a lot. The higher the zoning (the more units allowed) usually the higher the value. However, the main thing that most don't consider is the access to sewer and water. If there's a commercial zoned lot but sewer is a mile away, the value is going to be low due to the costs to develop. 

The structure costs are pretty black and white and would apply to almost any lot, only difference is in the grading or export/import of dirt and/or quality of the soil. 

In your case you may be looking at infill single family lots. What I would do is look to see what new single family homes are going for nearby, and if you can purchase a lot for less than 20% of what a new home is going for it might be worth pursuing further. 

@Mirzet Mehovic Everyone has their own opinions on what makes a deal a good deal, and I'm with you... $100 or $200 per door isn't much if you're talking about single family homes or small MF. One turn over could wipe out an entire years worth of cash flow (or more)

However, the BRRR strategy does focus on a high ROI play where there is little to no money left in the deal. So for some, owning an asset that produces $100 - $200 per month in cash flow with no initial investment is fantastic.

I personally want more cash flow in my deals, and the trade off is less units with a higher cash flow per unit. Those are harder to find these days. 

@Andrew Votsis I started lending money to my investor friends a few months ago while I was in between deals. 

My advice would be to have an attorney create loan documents for you and start with someone who has some experience in flipping or buying rentals. Make sure you have a deal and borrower vetting process and a reasonable down payment. 

The returns are really good, and it's a great way to earn income but it's not really a wealth building strategy. There's no tax write offs and no upside other than interest and points. 

@Walter Correia There's a ton of online resources for that, realtytrac is one. Short sales will typically be listed on the MLS. It may be worth checking out your local foreclosure auction as well.

@Stephen Scire HELOCs are a great way to access stagnant equity and start earning a return. When I've used HELOCs for the down payment I always make sure the new property will still cash flow after adding in the additional payment on the HELOC. I then use cash flow to aggressively pay the HELOC portion off quickly so I can go on to the next property.

In my experience, banks will lend at 70 LTV on an investment property on a HELOC. Since you have one property with no mortgage you may be able to get better rates and terms on that one.

@Alexander Hunter My friend Rich Carey invests in the US while living in South Korea. His website is richonmoney.com and he has some great info. Hope that helps!

@Edward C. you're right, the Biggerpockets event shows 6:30PM - 3:30PM, so somehow that must have been an error in the input. The correct time is 6PM. Thanks for checking!

@John McGonigal Great, I'll send you a message.