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All Forum Posts by: Mike Grudzien

Mike Grudzien has started 2 posts and replied 1146 times.

Post: What Makes a Property More Depreciable? Investor’s Guide to Bigger STR Tax Deductions

Mike Grudzien
#1 Creative Real Estate Financing Contributor
Posted
  • Lender
  • Eugene, OR
  • Posts 1,285
  • Votes 858

AJ does it again!  Thanks for the analysis!

Post: Looking for a Hard Money Lender

Mike Grudzien
#1 Creative Real Estate Financing Contributor
Posted
  • Lender
  • Eugene, OR
  • Posts 1,285
  • Votes 858
Quote from @Chris Seveney:
Quote from @Damien Davis:

Hello BP Family,

Been on the hunt for a hard money lender that is willing to work with a new investor. I've spoken to interested parties that talked a good game but looks to be that, just talk. I am looking for a HML that fund deals in-house and not afraid to work with a new investor. Yes, I get the risk factor, which is why it's important to me to find someone who wants to build a long term relationship with me.

Any suggestions for HML (preferable in CT) would be extremely helpful.


 Many lenders will invest with new investors. Are you doing long term rental, fix and flip etc. 

The key will be how much skin in the game you have, as a newer investor they will want to see more skin in the game. If you are seeking high leverage, then I recommend friends and family or go to local REIA and bring a specific deal.


 I agree with Chris: he nailed it.

Post: Reviews Park place Finance

Mike Grudzien
#1 Creative Real Estate Financing Contributor
Posted
  • Lender
  • Eugene, OR
  • Posts 1,285
  • Votes 858
Quote from @Brandon Croucier:

As a broker, I personally steer clear from them as I've spoken to numerous Reps from the company over the years (they clearly have high turnover).

Based on my analysis of the market I find there are many better options in regards to pricing, efficiency & risk tolerance. 

Can I ask what the deal is?


 I agree with Brandon.

Post: What’s the One Thing New STR Hosts Always Miss Until It’s Too Late?

Mike Grudzien
#1 Creative Real Estate Financing Contributor
Posted
  • Lender
  • Eugene, OR
  • Posts 1,285
  • Votes 858
Quote from @John Underwood:
Quote from @Renee Adams:

@John Underwood

Interesting take — and I totally get your angle.

I agree, premium pricing and quality definitely filter out a lot of the headaches. Guests booking high-end stays generally want the experience, not trouble.

That said, I’ve seen it both ways. Some markets (and platforms) attract guests who look perfect on paper but still push boundaries — parties, extra guests, rule-breaking, etc. So for some hosts, extra screening or house rules enforcement can be the difference between smooth cash flow and a nightmare call at 2AM.

No one-size-fits-all for STRs, right? Curious — have you ever had any situation where you thought, “Dang, maybe a little more screening would’ve saved me here” or has it really been flawless the whole time?


 Flawless. 

I have better things to do than stalk potential guests online. My screening is my high prices.


 Agree with John.
My prices select the demographics.

Post: Cost segregation study help

Mike Grudzien
#1 Creative Real Estate Financing Contributor
Posted
  • Lender
  • Eugene, OR
  • Posts 1,285
  • Votes 858

Get a CPA....

Post: Who sets up an owner financing deal?

Mike Grudzien
#1 Creative Real Estate Financing Contributor
Posted
  • Lender
  • Eugene, OR
  • Posts 1,285
  • Votes 858

Get an attorney with experience doing seller finance deals.

Post: Investment Property HELOC

Mike Grudzien
#1 Creative Real Estate Financing Contributor
Posted
  • Lender
  • Eugene, OR
  • Posts 1,285
  • Votes 858

Local credit union.

Post: HELOC Advise for Debt Consolidation

Mike Grudzien
#1 Creative Real Estate Financing Contributor
Posted
  • Lender
  • Eugene, OR
  • Posts 1,285
  • Votes 858

If you have to get a HELOC, work with a local, credit union. Better rates and local relationship.

Post: Hand hold through first deal - looking for help

Mike Grudzien
#1 Creative Real Estate Financing Contributor
Posted
  • Lender
  • Eugene, OR
  • Posts 1,285
  • Votes 858

As you build your team: Get. An. Attorney. Period.

Post: Is Proper vacation rental insurance worth it?

Mike Grudzien
#1 Creative Real Estate Financing Contributor
Posted
  • Lender
  • Eugene, OR
  • Posts 1,285
  • Votes 858

Farmers Insurance has a rental insurance division called: Foremost.
Could be worth checking out through a Farmer's agent