All Forum Posts by: John Otradovec
John Otradovec has started 5 posts and replied 43 times.
Post: DSCR Loan Prepayment Penalties
- Lender
- Springfield, MO
- Posts 46
- Votes 20
Quote from @Gustavo Alvarez:
Hi there! I applied for a DSCR loan and the terms include vague language indicating they may be a penalty if paying the loan early. Is this common for these types of loans? Is there a typical minimum period where the penalty applies, like 3-5 years? Can this be negotiated?
Yes most are a 5/4/3/2/1 or 3/2/1. I have a lender that will do a 1yr prepay for .125% added to rate which is amazing. I am 20yr lender so let me know if you ever need help or have any questions.
Regards,
John Otradovec
Post: Home Warranty for single family rentals
- Lender
- Springfield, MO
- Posts 46
- Votes 20
There are several software out there or you can just use quick books or something like that.. Its more about just putting in all info that which system you use. Let me know what you decide and I will ask my clients what they do as well. Just to give some real world experience advice..
Regards,
John O
Post: Seller Financed 5plex in Elkmont, AL
- Lender
- Springfield, MO
- Posts 46
- Votes 20
Congrats! You did everything perfectly. I love to see projects work out and I have been a HML for 20 yrs and also flip houses on the side. This is exactly what everyone tries to do so good work. If you want to talk about 75% cash out options just let me know!
Thanks,
John Otradovec
Post: Check my math! Condo conversion project
- Lender
- Springfield, MO
- Posts 46
- Votes 20
This is a good analysis and you could go off the deep end with extra numbers, etc.. The only thing I would say is in 10 yrs I think you would have more than 25-20% appreciation.. esp in that area.. so might be worth more plus rents continue to go way up so both are great options, just depends if you want hassle of having tenants or want cash now? I would take the profit and invest in more real estate! that's just me.. happy to chat anytime as I invest and also help clients do what you're doing every day.
Regards,
John Otradovec
Post: (First post) Wholesaler list for multifamily properties
- Lender
- Springfield, MO
- Posts 46
- Votes 20
Hey I am also in KC and flip houses and do other investment projects. Let me know if you ever want to connect? Thanks, John
Post: rental income property
- Lender
- Springfield, MO
- Posts 46
- Votes 20
Hello. Just curious what are you asking or looking for on this? Do you need help with financing? Feel free to shoot me a message anytime.
John Otradovec
Post: 70k profit on a full fix & Flip in mission KS
- Lender
- Springfield, MO
- Posts 46
- Votes 20
Congrats. That looks great. I also live in KC and have 4 flips going too. Love it. Where was this located at? Great ROI so you should be pumped! - JO
Post: Will fake security cameras make me liable in any way?
- Lender
- Springfield, MO
- Posts 46
- Votes 20
Of course man, no problem!
Post: Maximizing Your Real Estate Investments: The Power of Partnering with a Realtor
- Lender
- Springfield, MO
- Posts 46
- Votes 20
Quote from @Bubba McCants:
Why Partner with a Realtor for Real Estate Investing?
- - Market Expertise: Realtors have in-depth knowledge of local markets, helping you identify lucrative investment opportunities and navigate complex market dynamics.
- - Access to Off-Market Deals: Realtors often have access to off-market listings and exclusive opportunities that may not be readily available to the general public.
- - Negotiation Skills: A skilled Realtor can negotiate on your behalf to secure the best possible deal, whether you're buying or selling investment properties.
- - Network of Professionals: Realtors have extensive networks of lenders, contractors, and other industry professionals, providing valuable resources and connections for your investing journey.
- - Streamlined Process: From property search to closing, a Realtor can streamline the investing process, saving you time and effort while ensuring a smooth transaction.
Engage with the Discussion:
- - Share your experiences working with Realtors in your real estate investing endeavors.
- - Ask questions about how to find the right Realtor for your investment goals and preferences.
- - ag a fellow investor who could benefit from leveraging the expertise of a Realtor in their investment ventures.
Let's harness the power of collaboration and expertise to elevate our real estate investing strategies. Your insights and experiences are instrumental in shaping this discussion, so don't hesitate to join in and share your thoughts! #RealEstateInvesting #RealtorPartnership #InvestmentSuccess #BiggerPocketsCommunity
I am a 20yr HML and also invest in flips and LTR on the side. I always work with a realtor for all your reasons and more. I will come back to this and post more but finding a good realtor in Investment world is worth its weight in GOLD! --- John O
Post: Suggestions for strong markets and how to decide
- Lender
- Springfield, MO
- Posts 46
- Votes 20
Quote from @Sandy Santosh:
Hi All,
I am completely new to this platform. Looking for insights on areas for investing on a townhome with potential appreciation and rental cash flow.
Are there any good markets for 2024?
Thanks,
Pratyusha.
There are tons of good markets. I personally invest in Kansas City, Ohio, PA, TN, NC and I help clients in all those states plus IL, MI, GA, FL and many others. Happy to help if you need it or want to talk? Thanks John