All Forum Posts by: Kim Wendland

Hi Andrew, We just did what you're suggesting in reverse though. We bought the property with a personal conventional note and now the title company is moving it into the LLC. So, the lesson was that ownership and financing can be segregated. You likely need a good contact at a Title and mortgage company to know all the options available for your scenario. Hope this breadcrumb helps.

Hi Michael, welcome! Happy investing.

Thank you! I needed that.

Great question Dick. My father passed away about 18 months ago. He was a buy and hold investor. Now, I'm helping my mom with the business and jumping in as a newbie. I don't know what his plan was to execute. So, I'm working to build that plan now. PS - this is one of 29 properties. 

Hey Fellow BiggerPockets Landlords, 

Most of the materials I've been learning about from Bigger Pockets assume you're buying a new property. But what if you've owned a BRR and didn't do the last RRs (refinance or repeat)? The property is owned 100% but in poor condition. ARV is $60,000. Needed repairs are $30,000. Would you repair and hold, improve and sell or just sell? Why?

Also, does it make sense to use the same BRRRR calculators and just assume a $100 purchase price for the Pro Rata data? Seems logical, but don't want to assume.

A bit more context:

• Property is 1950 906 sq ft, 2-1-1 with central air on 6,464 sq ft lot
• Average class C SF neighborhood
• Condition is livable, but it's time to true up the asset as severe damage will set in soon
• Should rent from $700 - $800

Thanks for weighing in,

Kim

Beauty shop or barber shop.

Hey Tye, you should likely start with some investment education that Bigger Pockets provides. Check out all the topics including note investing. With more context you will likely find the right fit for your goals. PS - congratulations being fiscally wise.

100%

Thank you all! Robert, your comment was especially thought provoking! Thank you. 

Oh, and this is a BRRRR