All Forum Posts by: Luke Lee

Luke Lee has started 4 posts and replied 11 times.

Hi, I'm looking for a lender that can finance 80% of a 12 properties (11 SFH and 1 Duplex) 13 Units total. Portfolio is own by an older gentlemen and self managed. All rents are month to month and way below market rent. Owner does not have rental agreement in place, nor record of rent. Seller can provide Estopel from tenants. DSCR ratio is 2.0. Looking to close ASAP.

Property is in a growing city in Georgia, not in Columbus, GA.

Please reach out to me if you can assist.

2 Votes

Columbus, Georgia

Quote from @Mitchell Johnson:

Quote from @Luke Lee:

I just move to Bremen, GA can I join?

Yes! Please do. I look forward to seeing you there.

Thank you. I'll check my schedule and see if I can be there. Only if it's 6:30PM or later, I'm sure I can attend. It's about an hour from me.

0 Votes

Atlanta, Georgia

You know any BRRRR friendly bank or CU in Carrollton County, Haralson County, Muscogee County?

0 Votes

Quote from @Tiffanie Figueroa:

Quote from @Luke Lee:

Hi all, heard so much about BP over the years. Now finally and ready and just join the community.

What do you guys think about the BRRRR market in Columbus, GA?

It’s a great market for BRRRR. I have a friend who is doing this strategy there. She’s a realtor and property manager there as well. I think she would be a great resource for you. Let me know if you’d like her info

I appreciate it, if you can connect me with her. I'm a MI RE Agent but move to GA here and looking to continue my real estate. Not sure if want to be an agent, but toward investing.

0 Votes

Columbus, Georgia

I just move to Bremen, GA can I join?

1 Vote

Atlanta, Georgia

Or Douglass County, Georgia that will do a cash out refinance on a newly updated home using BRRRR?

1 Vote

Quote from @Eric Radich:

I purchased a property last summer in Mobile Alabama for $38,000. The deal was financed using hard money at 12% and the total loan was $65,000. After closing cost I received approximately $24,000 for repairs from the loan and I have put in approximately $66,000. To date I have approximately $9000 in holding cost.

My real estate agent feels that we will list the house at $155000. My property management company says that it should rent at $1200 a month. I have used both the fix and flip calculator and the BRRR method calculator. Both show a loss to little return so, my question is should I sell and take a loss or should I do a cash out refinance (75-80 % LTV)?

Thank you for any insight and/or advise,

Eric

Did you under-estimate your rehab cost?

0 Votes

@Sean

@Sean Chua just relocate to the Atlanta region and starting out in REAL real estate investing. Would love to connect.

0 Votes

Atlanta, Georgia

Hi all, heard so much about BP over the years. Now finally and ready and just join the community.

What do you guys think about the BRRRR market in Columbus, GA?

2 Votes

Columbus, Georgia

Hi guys, can you share with me a legal Michigan Wholesale contract, that gives me the right to assign?

0 Votes

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All Forum Posts by: Luke Lee

Luke Lee has started 4 posts and replied 11 times.

Post: Looking for a Portfolio Lender

Post: Amazing Cartersville Monthly Meetup

Post: BRRRR Question Financing

Post: Newbie here Georgia

Post: Amazing Cartersville Monthly Meetup

Post: Any bank or financial institutions in Carrollton County, Haralson County..

Post: First Deal- Should I sale or rent and cashout refi?

Post: Immediate Cash Out Refinance - Atlanta BRRRR

Post: Newbie here Georgia

Post: Michigan Wholesale contract