All Forum Posts by: Lesley Ray

Thanks @Bob Prisco! I am planning to move forward with him. I appreciate the insight. 

I know this was posted over a year ago but would like to add my 2 cents as a fellow Designer. 

@Keianna Harrison thanks for posting this! It's a topic I've been researching more as I've become immersed in this world of real estate investing. Very cool that you have your own staging and design company! I hope you've been able to gain more traction.

I think many people also don't realize the difference between a decorator and a designer and use the 2 terms interchangeably. A decorator can certainly add great value to a house, but a decorator will tend to focus more on staging and furniture (less-permanent aspects), whereas design is more concentrated on architectural pieces and built-in items while keeping the decorations in mind. 

@Chris Brown you mentioned you spoke with an Architect and his or her fees were too high. If you find a certified Designer, he or she can produce architectural drawings for you at a lower price point and then you just need to pay the Architect to review and stamp them. Many designers and architects will have partnerships in place for situations like this. Just something to keep in mind for the future.

Thank you everyone for you responses!

@Michael Simmonds, Thank you for your input. Will PM you shortly.

@Jared Lichtin, the problem I'm running into is that I can't find those HML rates since this is my first one. I'm looking at 70% ARV, ARV min. $120,000. Will PM you shortly.

@James Wise, that's what I thought too but one HML I've spoken with has said they will deposit the funds into my account after I am approved, therefore allowing me to show proof of funds and present a cash offer.

@Jay Hinrichs, typically I would agree that long distance rehab is risky but I have boots on the ground (my parents) to keep an eye on things.

Hi all,

I'm looking to purchase my first investment property in Cleveland, OH. I plan on utilizing the BRRRR method and am currently feeling torn on whether to obtain the property with hard money vs. a traditional loan. I view the benefits of hard money as being able to purchase a property in cash but obviously with that convenience comes higher interest rates.

I was wondering if others have favorable impressions or experience with one over the other for BRRRRs.

Hi @Carlos G. , Did  you end finding a Designer? If so, what was your experience?

New single, female investor here! I didn't think gender was still relevant, but a recent experience with an older male lender where he referred to me as a "sweet girl" made me re-think this outlook. 

@Tracey Pera (or anyone else for that matter), any tips you've picked up so far that you'd care to share? 

@David Emmert Did you end up going with them? I've been talking with James Markowitz there and would love to hear feedback from other out of state investors. 

I'm still analyzing the model he has presented to me, which involves using a bridge loan to purchase multiple properties with different LLCs (all owned by the same investor). 

@Rob Gillespie Thanks so much for your suggestion. That helps a lot! I have decided to expand my search, as you said, I've realized the numbers just don't make sense for those areas.

Do you have a wholesaler you work with or do you typically use MLS to find properties?

@James Wise Thanks for your input! That is what I'm coming to realize.. I have now decided to expand my search to other B neighborhoods (Parma, Old Brooklyn).

@Austin Tam just to clarify, both of these properties are duplex's. I'm not looking at any SFR.