All Forum Posts by: Patrick McGrath

@Kirbi Campbell

Close on 10unit apartment deal we will be converting to 12 units. Purchase 3 more MF deals bringing total units to 30. Close on first flip and leave my W2.

2021 here we come

@Rafael Frias

Great question. Have a few, but ultimately the end game is to have enough cash flow for my wife and I supplement W2 income and provide additional $5-10k month towards my parents retirement. Need around 50 units for my wife and I and a additional 15-25 for parents. We are at 10 now with an additional 10 closing in march.

@Jake Houseknecht

Welcome Jake, I invest in Anne Arundel and Carroll County. Plenty of good things happening in the MD markets. The BP community has been great and you can find just about everything you need here.

@Jennifer Schelkopf

We purchase a SFR in April for $108k(MLS), put $16k into it, its currently rented for $1600 month and justed appraised for $207k for the refi. Then we just closed on a 4plex last Friday that was off market. We bought another property from same seller last year. Purchase price $285k. Seller holding $85k for 3 years. And got 30year fixed for the other $200k. We also have a signed contract to purchase a 10unit building that is scheduled to close in March. 2020 has been a good year.

@Brennan Murphy

Closing fees roughly 1-2% and points .5-1. Commercial is based on the asset more than your personal ability to pay the loan. Call some local banks and ask to speak with the Commercial lender. They are always super nice and helpful.

@Brandon Allenczy

We were just granted eviction in carroll county. M2M lease and gave 60 day notice. They were then holdover tenant, property was in disoray, trash and other items. Never mentioned they hadn't paid in 3 months.

You can't evict on payment. But other reasons are being considered. I'd offer return of deposit, 1 mo th rent and 1 day uhaul rental.

Get them out asap.

@Liam Hanlon

Congratulations on property #2. Refacing cabinets is a good alternative to just painting and hardware if you want to really change the look. Cabinetsnow.com is where I have went in the past for new cabinet doors. You can paint them and add the hardware and bore holes yourself to save $$$. A $15 jig from HD and hardware off Amazon will save you a ton. There are a ton of great looking countertop options out there that won't break the bank these days as well. LVP flooring or the new Vinly tiles are easy to install and look great as well.

Good luck

@Carlotta Hall

I've BRRRR'd 4 properties so far and no issues, starting on #5 now. Its 10 mortgages in your name. But you can get Porfolio loans. Refinance all properties under 1 commercial loan and then start all over.

@Greg Moore

2.5-5% is what I have imspread over BTC, ETH, ADA, XRP and NEO. I used to mine until the crash in 2018. My profilio would be over 100k right now if I didn't sell a large chunk last year when btc hit 13800.

Ride the wave and do you.

@Nina Granberry

All of are cash flow goes to purchasing more properties.