All Forum Posts by: Jordan D Johnson

Hey BP, quick question...

Under my LLC I bought a quadplex that I am BRRRR(ing). The numbers are all good and we should recover our entire downpayment plus a little bit extra. We are finishing up the rehab and beginning to look for our cash-out refi lender. We are in month two of our interest-only loan, so we still have quite a bit of time. I'm curious what amortizations people are getting through an LLC. I know 15-20 is pretty normal. Has anyone gotten any 25-year AMs? We are located in Shreveport, LA if anyone knows of any lenders that might fit the bill. Our portfolio lender offered us an awesome deal for the acquisition/rehab loan, but they aren't offering anything special as far as Refis.

It’s added into the loan. The acquisition loan, is an interest only with the acquisition and 18k rehab loan all in one. 

 @Tim Hermanundefined

The webinars that I've watched when Brandon Turner is analyzing a deal. He uses 5% for Capex. So, that's just what I've always gone with. But, with that being said I see your point.

https://www.biggerpockets.com/calculators/shared/1412093/ff479641-0e78-4c0a-a137-8859857fea85

This property is two duplexes on the same lot. Two three-bedroom/ 2 baths and two 2 bedroom-2 and half bath. All units have garages attached, they are in a c class neighborhood. Three units are currently rented for - 850-850-825. The fourth unit is vacant and will be remodeled. Rent will be raised to 875-900. The asking price was 270,000, we got it under contract for 240,0000. We have estimated 17,500 for repairs. We are going to use a 12-month interest-only loan for a total of 257,000. Since we are going to do a refi with a new LLC, I'm curious what terms yall are seeing with commercial refis. The local tax accessor has the property appraised for 330,000k. We have not had the property appraised yet. We plan to refi in six months and be able to recover the down payment. Thanks for any input.

Awesome, just out of curiosity what neighborhood is the property in? 

Same I'd like to attend a meeting.