All Forum Posts by: Mary Faith Janson

That is my hope, that a few will notice this and reply.  I wish BP would have a category for them under the Network tab.  Seems like they are a vital part of "the team" as well as bankers.  Thanks.

Hello,  I am looking for a new accounting firm with extensive real estate background and experience.  Current firm missed a number of real estate "must haves" on our 2021 return.  Any recommendations would be appreciated.  I thought that the Network link would have a section for accountants/cpa's but it doesn't.  Thank you in advance.

Hello, I have a good friend that just put his second STR onto the market. He called his insurance company, and now that there are two, they don't want to cover him. Any suggestions? How can he go about finding adequate insurance coverage for these two homes? In NE Texas. Thank you.

Thank you @Kyle Mccaw - I have reached out to Cameron.  

I've filled out the Insurance questionaire in the Network Tab for Insurance.  Three weeks ago, haven't heard a thing.  Can you give me the name/contact info of some insurance companies that will cover rental properties?  We're in Texas if that helps. Thank you!

Thank you Tim, that did help do the figures better.  I messed up and put rent amount for right now, not what it would be when we refinance.  That changed things for the better.   I appreciate your input!

View report

*This link comes directly from our calculators, based on information input by the member who posted.

We have $225K in open Line of Credit at 3.875% ready to use to purchase a property.  I can't figure out how to use the calculator to show that we are purchasing it with Cash (from the Line of Credit) and then refinancing in 18 months.  If I select Cash for Initial Purchase, then the ability to show the interest per month goes away. If I select the other option, I can't put "100% down" to show the cash purchase with the Line of Credit, but I can put interest in.

So I think my numbers are WAY off!  Using the Rent calculator for the Purchase and then doing a new Rent Calculator seems to be the only option to get good numbers

What do you think?  There have got to be other investors using Lines of Credit to purchase properties, then refi-ing them later.  Wish they would address this in the calculator!

Thank you for your help-  Mary

We are in Texas, if that helps.

Our small local bank has been great to help us set up Lines of Credits so we can buy BRRRR properties for cash, and then refinance. However, they will only consider a 5/1 ARM for the refinance part of the BRRRR strategy - we want a 30 yr fixed. I have looked at other lenders here on Bigger Pockets, and it seems they all want 20% down for a fixed rate. Do they consider the equity in the property after rehab the 20% down? Thank you. Any advice or names of lenders we can use would be awesome.

Thank you Mr. Poloski!

Our management company only charges a flat 10% of the rental income, which is a blessing. They have been fantastic with our other two rentals. The renters they have put in our other properties have lasted many years, we've only had one turnover. I know our 1% for Capex and repairs is low.

The appreciation for our area is actually higher, so I was trying to be a bit conservative.  Maybe I should back that down a bit anyway.  

I do appreciate your comments!  Thank you!