All Forum Posts by: Nicole Skorka

@Craig Van Sickle, from what I've found there are affordable properties including multifamily under $100k. However, there are neighborhood conservation districts that restrict rentals, and there are neighborhoods with high crime that property managers refuse to service.

@Sean Ridlon, Did you find a manager? I've heard Cedar One is the primary PM company. I've come across another one called South Bend Management.

@Christopher Parsons- Did you try Caretaker? I'm in a similar small town situation with only one PM available. I scheduled a demo with Caretaker and it seems intriguing. I'm a property manager by trade but as a long distance landlord I need a team to do management. With Caretaker it seems you can program in your maintenance team and dispatch maintenance, etc and virtually conduct management from afar. I'm not sure about the leasing and marketing piece, tenant turnover, etc...

I have a series LLC setup for purchasing real estate, however all the lenders I have spoken to offer either a personal mortgage loan at 3.25% and 10% down or a commercial loan at 7.25% with 25% down. The low interest personal loan can't be used by the LLC. Is there a work around for this? I understand I can't assign to the LLC because that could make the loan due in full by the lender. Would adding a layer with a trust ensure I have a layer of liability protection?

The lenders I am looking into service Puerto Rico which is where I'd like to invest. This is my first deal and I'd like to keep as must cash on hand as possible to use for other deals. I just don't want to screw myself over by not having the property deed list the LLC.

@Tsedey B. -

Have you done any deals in Puerto Rico? I've found a mix of potential short term and long term rentals, and building my team to get started. I'm a commercial property manager and together we might make a great team. DM me if you'd like to setup a time to chat.

Hi Raul, Do you have any updated sales data you could share?

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@Suzette T. Thanks! It's nice knowing that the path I'm on is reasonable.

It's hard to understand timeline when there are stories of simultaneous BRRR, and quick buy and refi with hard money, opm, etc...

@Lindsay Massengale, Welcome! I'm a new BRRR investor and also located in Denver. I'm planning on investing out of state, first in SD. PM me if you'd like to meetup for coffee or lunch.

@Suzette T. The bank lender for the acquisition is open to a cash out refi once the work is complete. Time wise, the property would close with the 5% mortgage, and occupied. I could do the roof and exterior immediately. After 6 months the leases would be up and interior rehab could begin. That would take 3-6 months to complete, correct? Refinance wouldn't be possible for 12 months.

The bank loan underwriting and closing is $2000. I was considering an hard money loan, but the fees didn't seem to make sense

Since this is my first deal, my LLC doesn't have a credit history. If established, the bank would be willing to do an acquisition loan and a secondary construction loan, the cash out refi. I might be able to do the construction loan application in 6 months once the relationship is established.