All Forum Posts by: Justin Youngblood

Thanks for you help guys!

Does anyone have any recommendations for property management companies in Greensboro, North Carolina?

@Devin James thanks Devin!

Hey BP,

So I'm trying to figure out the best way to structure a deal. I have an opportunity to purchase an off market property that I plan to BRRR. This property was brought up to me by a family member. Basically they have a neighbors house who is interested in selling. My family member wants to invest $10k and I have all the other capital and the knowledge to do the deal. I would be the one on the loan and their money would be used for renovation costs. So basically I'm doing all the analyzing, managing rehab and managing once complete, negotiating etc. I want this to be beneficial for both parties and it gets a little dicey since it's family. Ideally I would do this deal by myself but since they brought it to my attention and want to invest money then they want in.

Here are the numbers. Any thoughts on how I could structure this and what it would look like? Or should I steer clear? 😂

PP: $170k

Renovation costs: $25k

ARV: $230k

@Matthew Rogers super helpful info. I appreciate it

Hey BP! Looking for some guidance here...A property I’m interested in buying has an unpermitted addition. The scope of work done was the master bathroom was enlarged to fit a tub. Is this a huge red flag? Would you steer clear of this one?

@Greg Scott thanks a lot for the feedback. I'll reach out to a mortgage broker. Since it is a conventional loan is this necessarily a BRRRR? I did the previous steps

Hey guys! I'm in the second year of a 5 year ARM (3.875%) on a deal I did a couple years ago. I have about $50k in equity but I'd like to refinance to get my initial down payment back out so I can reinvest it in another property. Does anyone have any advice on if this is a good idea or not, and if so how I would I go about getting it done?

@Theresa Harris @Adam Tafel @Lynn McGeein @John Underwood thank you all for your responses! This was very helpful information. 

Hey BP! Just wanted to get some advice on a situation I'm running into. I have a tenant who has been in place for about a year now. The tenant has been historically late with rent due to a job change shortly after signing the lease. According to them their pay date changed so they agreed to pay rent late (on the 15th instead of 1st) and also pay the late fee each month. This month they have not paid their rent nor have they responded to any of our attempts of communication regarding late rent or the possible issues for tenants surrounding the COVID-19 pandemic. What next steps would you take to get this tenants attention and collect rent aside from showing up at the property to collect rent? I know all evictions have been suspended during this time so I cannot go that route and I don't want to evict if they experiencing a hardship from the coronavirus. They have just not communicated with us in any way. Any advice would be greatly appreciated!