All Forum Posts by: Patrick Bavaro

@Mya Toohey What's zipcodes in Clearwater are you doing your flips in? Looking to move some of my capital to a new market as Fort Lauderdale is simply too expensive for my taste right now. Would love to connect. 

@Ghenia Flewellyn That's really nice to hear! I'm actually planning to take a trip out to Macon for my W-2 gig and tour/network the area while I am there. 

Would love to ask you a few questions about your properties or hear about your experience working with your team on the ground. Can I PM? 

@Ghenia Flewellyn How did the investment property turn out?! Hi from down the street in Fort Laud!

@Ramona Jackson Congrats on pulling the trigger and ending 2019 with an exciting new path to wealth! What are your intentions and goals with the property now? Renting? Needs rehab? What are the numbers? 

@Beau Miles thanks for sharing, Beau. Sending you a colleague request and message. Would love to collaborate as I make my trip out in February. 

@Nathan Scott Age should not be a factor when applying for a loan. In fact, I'm pretty sure its considered discrimination and illegal. The banks look at your debt to income ratios, where you income is sourced from, and other factors to make sure their "investment" in you is "safe". With investment loans I also believe they sometimes take into account your experience as an investor to consider rental income as actual income. Someone can check me on this or add to it as every lender is different which is the great thing about real estate!

@Sheila Ongwae I'll be in Huntsville February as well and would love to know how your trip out/networking session goes. I'm an investor in SFH. Please let us know how the trip goes!

Patrick

@Michael Beeman I'll say! Congrats on making your dream become reality. I gotta say, I definitely got the itch I cant scratch after reading your story. I'm in the savings/capital raising phase right now with a goal of $30k to get started but am eager to secure my first deal. 

@Bruce Runn Assuming I understood this correct....Listening to podcast 301 unlocked a rather simple in practice but probably controversial avenue for delayed financing. I'm unsure of what your specific strategy is when buying your homes, but Alex on 301 purchases his property in cash, rehabs, and is able to pull all his funding out (including the rehab) through delayed financing. He simply paid for renovations up front at the closing table and updated the HUD to reflect by providing the invoices for the rehab. From what it sounded like, he has a tight relationship with his contract and thus pays the 20-30k expected renovations ahead of time. He also mentioned that you could setup escrow with the title company to disperse the payments overtime as work is complete (probably a PIA though). When he refinances, he shows the HUD, and voila... I suppose it would depend if your title company would be comfortable with those changes during closing. Was a very interesting strategy that I would recommend looking in to. I've never put it into practice.

@Michael Beeman As others have already mentioned, truly inspirational. Thanks for sharing and providing insight. Would love to hear where you and @John Hagen are at now. Did you hit your June 2019 goal?