All Forum Posts by: Account Closed

no, no i really appreciate the additional insight! we've had a rather plug and play system but we've recently taken on bigger rehabs and I think this is very important to be cognizant of these longer rehab periods. thanks kevin!

 I completely agree! Starting off, we'd somewhat limited ourselves by only interviewing a few lenders but we're currently interviewing many more to supplement in areas that previous lenders lacked. I'll definitely keep this in mind as we move forward!

It truly depends on what your investment objective is. It also depends on how local you want to be. If you're looking to stay within an hour of home, try to find a spot that has modest population growth (maybe 2% YoY) and rents that support your potential mortgage, operating expenses with maybe $200 left for you at the end of the month. 

A simple yet somewhat complex one would be to correct my expectations. This is much more psychological so I want to break this down a bit.. I spent years watching folks pickup great deals while I sat on the sideline, not being as engaged as it would've taken to get going. After a while, being around people that were knocking it out the park with their BRRRRs, I figured I'd have just as easy a time with it and that wasn't the case. After a while, seeing the number of good deals dry up over the years left me disheartened but eventually I got the swing of things and took off. That said, it's important to start off within your risk tolerance but push yourself to grow. There's this theory called the power of small wins that emphasizes doing things that may have a high likelihood of success and growing from there. For a BRRRR, that may look like picking up a house that needs a minor cosmetic update, then grow into bigger and bigger renovations from there. You'll see yourself grow very quickly and it'll encourage you to get after it more & more. Get after it, you got it!

Good evening friends! 

There has been a lot of rate volatility this past year and we've seen many lenders have some difficulty servicing their market. That said, who has become your Go-To hard money lender?

Seems to have been repeated quite a few times on this thread but transparency is key.. You NEED someone who you can comfortably hand off properties to and you can trust that they'll deliver the performance of your units exactly as it is- don't overexaggerate the good & don't underdeliver the bad. You'll need someone that is straightforward and honest so you can adjust your operation as needed.

Hi Andrea! Great question & super excited for you guys to get started. I'm also in the area so more than happy to help y'all with any questions!

For this one in particular, I typically have my agent walk it initially (she's an experienced house flipper & does a solid job getting an estimate). If it's within my tolerance level for what I had budgeted for the renovation, say $10k, I'll bring a GC out to write up an SOW and use that as my driver for the offer. Once accepted, get the inspector in and flip it back to your GC, agent to be sure everything's accounted for in the budget and everyone is on the same page. If all checks out, y'all should close on it and get to work!

@Joshua Martin , @Mason Hickman thank you both for the feedback! Although they do look helpful to get you going in the short-term, I worry they are not going to have the long-term impact we are looking to do especially if you are nickelled & dimed like that. That said, it may be best to learn it and spend the bit of money to optimize it ourselves. At it's worst, it'll be a great learning experience! 

Josh- just sent you a PM, looking forward to getting going!

Welcome to the area, Huan! I'm an investor in this area and have been close to the area for nearly a decade. I can say Greensboro as a whole is great place to live and we are seeing expansion into a lot of different parts of the city. 

@David Lutz had also mentioned High Point, this area tends to lag behind GB in terms of growth but that said, you can certainly still find great deals in this area.

Hi Amna, welcome to NC! It's a wonderful area and I'm sure you'll come to love the southern lifestyle. I'm a buyer in the area and between myself and my network, I'm sure we can get you help with any deals you may have. Let's connect & see what we can do!