All Forum Posts by: Kelly Iacovelli
Kelly Iacovelli has started 3 posts and replied 7 times.
Post: Owner Financing Scenarios
- Meridian, ID
- Posts 7
- Votes 1
I'm looking at a 4-plex in Florida. It is currently under rented and needs rehabbing. The owner is open to seller financing. I'd love to hear a few scenarios from your. The tenants will need to be evicted so that we can renovate. I plan to get a DSCR loan once rehabbed and rented. Thank you. Purchase price is $399k, rehab costs $60k. ARV $700,000.
Post: read this lenders terms and comment on what you think
- Meridian, ID
- Posts 7
- Votes 1
I've been contacted by them by email and phone. I asked a ton of questions. My husband and I kept questioning why he only does 1 pt up front and 1 pt at close with a lost interest rate among some of the questions. He sounds South African, which I have no issue with. Disturbing.
Post: Referral for Noble Financing
- Meridian, ID
- Posts 7
- Votes 1
Has anyone worked with Noble financing?
Post: Learning to BRRR Long Distance
- Meridian, ID
- Posts 7
- Votes 1
Quote from @Jon Martin:
For long distance, try to find yourself an "errand boy" in your market, for lack of a better term. Someone who can do odd jobs like assembling furniture, accept deliveries, take videos of contractors work, fix small things, etc but won't command a high hourly rate for specialized labor. Start with small low risk jobs and scale up from there as you build some trust.
I found a guy on ThumbTack for my house in Greenville SC under "Movers". He advertised that he also cleans out crawl spaces and power washes houses, and there is no job that he hasn't turned down. I even had a situation where I would've needed someone to represent me in person with the sheriff and he was willing, but thankfully that situation resolved itself before it got to that!
Thank you
Post: Learning to BRRR Long Distance
- Meridian, ID
- Posts 7
- Votes 1
I’m just getting started so I’m open to 2-4 doors but really interested in 5 or more. I’d love any help. Thank you
Post: Learning to BRRR Long Distance
- Meridian, ID
- Posts 7
- Votes 1
It's very competitive. The 1% rule doesn't apply. I believe most people are buying with the thought of the increasing values will eventually cash flow the properties. We have extremely low inventory like a lot of areas. New construction is thriving.
Post: Learning to BRRR Long Distance
- Meridian, ID
- Posts 7
- Votes 1
I'm looking for a mentor to help me get started in long distance buying of multi-family properties using the BRRR method. I do flips and rehabs locally, am a Real Estate Broker. I'm also looking for private funding.