All Forum Posts by: Malcomb Stapel

 Haven't you guys been in the middle of a hurricane ? You would think that would slow down the showings a bit. 

@McKinly Springer  that needs redone. It looks like the mixture they used was too wet. It will set up super thin like that and flake off. Also, the concrete underneath probably needs treated ahead of time with a bonding adhesive. 

@Luis Maza yes, my experience with wholesalers is that many of them either cannot do a proper ARV estimate or are inflating it. Couple that with tacking on 20-30k worth of fees on a 100k property and you have a recipe for no deal.

Don't get me wrong, they absolutely have their place, and we have a handful that we love working with. I have no problem paying a reasonable fee for their services. 

 We had Lodmell & Lodmell out of Pheonix set ours up. Pretty simple process if you're willing to pay the $1500. I'm sure you can have it done much cheaper with a quick Google search, but the above law firm is for sure legit. 

@Beck DeYoung  you are facing a simple math problem here. You just need to change the right variable/ variables so the equation fits what you are looking for. Options would include; buy cheaper, get a longer amortization (40yr) more down payment, buy something that rents for more money, etc. 

Also, depending on your time horizons, don't forget to factor in a 3-5% increase in rents per annum. 

 You now have me wondering. I'll have to double check it against my excel sheet. 

That would be a one trick pony. If you do a cash out refinance on the primary, you won't have a HELOC left to buy any more properties. If you finance the second property with a traditional loan, you can pay back your HELOC and use it again.

@Kwok Wong it should be as simple as contacting your preferred lender and telling them you have a house you are ready to finance. They will send an appraiser, you will have the option of financing up to 75-80% of the value. Take the money and pay back your HELOC.

@Kevin Lin you might double check that you have the exact same inputs for each calculator. For instance, if you are letting Zillow plug in your property taxes for you versus using actually values per county. If your getting different answers, then there are different variables in there somewhere. 

The BP calculator has a couple of quirks, but it's good enough to get the job done. 

 It would probably be worth taking a workshop if you are just starting out. Ideally, you would want one that would share systems with you (spreadsheets, budget tracking, walkthrough checklists, etc) this would save you a ton in time and duplicated effort.