All Forum Posts by: Jon Robinson

Hi @Billy Mcavoy, your goal of generating wealth through rentals is kind of vague.  Are you more interested in cash flow or growth through appreciation?  If you were to sell, would you invest in a property for more cash flow? Is there a way to increase the income for this property?  Can you achieve a higher rental rate if you rented it furnished?  How are you financing your move to NYC, would you want to buy another house, I am assuming that you would be living with your girlfriend so would you need everything you now have. Another thing I would ask myself is why am I so eager to pay off this great rate.  It's nice to have equity in a property but you can't invest equity and in order for your business to grow you will have to continue to invest in property.  I would love to chat about this more, maybe 2 heads can come up with a creative way to increase your return.   

Most private lenders have a lending minimum of $75k, so find a lender that will lend on a portfolio of properties.  Then go out and find 3 or 4 properties that fit your investment strategy and work the deal.  I have had lenders agree to a deal like that with seller financing as well.  

@Ned Carey Thank you for your response, while there are thousands of companies and individuals out there that so make unsecured loans everyday, my question wasn't specifically directed to you.  As for securing the loan, it would be listed as debt in my business so how would that be any different than getting an unsecured loan, line of credit or a credit card from a traditional bank. I was thinking more so on the lines of creating a note that can be sold if need be in the future.  Kinda like a template that can be used in the future when I decide to take on more investors who are looking for passive income from their money.  

Hi Ali,

There are some "private lenders" out there that will lend to you to fix up the properties, especially if you plan to hold them. I say "private lenders" because while they require less documentation than institutional lenders. With that being said I would focus on the property that you have almost completed, If it is in rentable condition and just some minor touches that need to be done, start advertising it and secure a lease. Once you do that you can qualify for a DSCR loan and pull some of your equity out. Give yourself about 30 days to complete the financing in place and the work done. When you say expensive finishing touches, what do you mean by that? Can they be financed? or possibly bartered for? Do you realistically need these items in order to get it on the market? It sounds like you are off to a pretty good start, I would focus on getting some income from it at this point and pulling equity to start on the next one. You can always come back and add those fancy touches in-between occupancies. I am sure those properties didn't fall apart all in one year, I wouldn't try and fix it all in one year either. You'll do great as long as you keep focus of your plan.

Hi, I was recently offered from a client/friend a generous amount of capital for the next 5 years at a great rate to invest. These funds will primarily be used at my discretion for acquisitions as I scale my business. I currently have a successful real estate investment business that is essentially a portfolio of STR/LTR rentals that I hold under my LLC. The LLC consist of just my wife and I owning 50% , and my 2 children as 25% each. What is the best way to write up the paper for this debt, would it just be unsecured debt, how could I secure it without changing the ownership structure of the LLC?

@Scott Mac how did you add those pictures?

@Scott Mac the swing itself doesn’t weigh that much. It will probably be about 100 lbs, however when 2 or 3 people sit on it the weight would increase.

@Mike Reynolds so I would basically make a “lvl” by filling in with plywood if I am following you. How then could I fill the space between the two joist? I wish I could add pictures to this, I could show you the framing.

I asked this question in another forum but think it is better suited here. I am trying to hand a Jhula swing from a doubled I joist. The joist covers about a 20 foot span and carries the load of a cathedral ceiling end. The joist is properly supported on either end to the ground and I wanted to know if adding a swing which would weigh about 100lbs and with people maybe 3 to 4 hundred more would that joist be able to support that weight. Granted it will not be under that load constantly but I wouldn’t want to stress the beam being as though it is carrying the load of a pretty high roof. Any advice?

@John Teachout it is a doubled joist that is carrying the load of the roof of the cathedral ceiling.