All Forum Posts by: Michael Rodriguez

Wow! I'll check that route out.  I appreciate you @Marian Smith

Thanks Greg.  I am a licensed residential contractor so I think I've got that covered and can run the trades thru the process.  I've also got the range of price per square foot for Denver.  

Just hoping to get something to get me started. 

Hi friends

I’m having a tough time finding an online new construction house plans WITH a materials list.

I completely understand they can’t provide 100% mats for say foundations roofing trusses etc. But my goal is to budget out a new construction rental build.

Does anyone have any sample small starter house 4 bedroom plan with material resources?

Of course I’ll pay the cost for the plans.

Thanks

@Joe Fairless YEAR TWO in my TOWN of Denver.  So glad you're putting on the BEST conference in the BEST CITY again - Colorado.  Looking forward to hearing new insights from the repeat speakers as well as new speakers, investors from other MSAs and opportunities to partner with the BEST EVER Conference attendees. Hopefully will see @Iqbal Mutabanna, my local DEN folks @Tim Emery @Bill S. @Adam Adams and my BP Pals @Ryan Evans  @Michael Swan @Brendan Kelly @Lorin C. and @Michael Blank - it's not too late to sign up guys!

Hi @Brian Harenberg

Investment properties usually only go to 75% LTV, but when it is a BRRR your living in it therefore you should be able to get a residential home loan. Then you move on after the time required to live in the home under your loan terms.

My current home is at 92% LTV so depending on your credit score and ability to handle the payments you might be able to get an 80% cash out.

Good luck

MRod

Hi @Ron Flatt

I would go to connected investors exchange online, sign up for free, and most likely you'll get the same list of people.  It's geography based search for all kinds of lenders.

OR travel from Hillsboro to the next Dallas REIA - Real Estate Investment Association - meeting and find some there.

Now go take down a property Ron! -:)

MRod

Hi @Nitin Dhiman and welcome to BP!

I would definitely recommend a 3rd party opinion for you and most people, even on new construction.  Unless you are an experienced contractor like myself.  

My residential clients selling an older home show me reports from inspectors all of the time on issues that they themselves wouldn't have found themselves.

Go do the walk thru with the inspector so they can teach you what to look for to get the most for your money!

Enjoy your new home!

Look at the BRRR strategy in the education section here on BP for a good plan for you to get into a 2-4 unit. Keep in mind NYC properties are going to be a PITA in up keep and don't appreciate. I'd look into NJ for this strategy. Plus try to find a partner to go in with you. You should have plenty of co-workers that could put in $25k with you via cash or perhaps thru a self directed IRA. Make it happen and Welcome to BP!

@Ryan Evans

It was great to visit Ryan's new duplex last week.  He is in the city of Euclid with this purchase.  I am an OOS investor as well and it is hard to be sure of what to make of Euclid.  Ryan's got the down low on info from staking out a spot at the local coffee shop to make friends and find out where the area is gong.

Do us a favor Ryan and give us an idea why Euclid is a good market for you?  My understanding from a person that grew up there is that the area suffers from major businesses that left in the 80s, causing higher income people to move out of those beautiful old houses.

What's your thoughts Ryan ?

Michael Swan send me your stinker properties in Heights so I can avoid them -;) and thanks for sharing your problems with them. I'm avoiding those parking problem MF properties on my search. Ryan Evans looking forward to catching up with you when I'm in CLE Sept 4-7th. I'll show you the MF properties I'm checking out. A Cleveland visit before action is a must.