All Forum Posts by: Jeremy S.

Yes, I have the same problem. Politics is depressing and there's little you can do to improve that situation. I prefer to focus my efforts on my real estate business where I can greatly increase my net worth and make a better life for myself and my family.... Stay informed enough to vote but just do your thing and don't dwell on politics.

A duplex will be valued based on comparable sales. What are similar buildings selling for in the area?

With that capital, I would considering partnering with an experienced investor on some flips or value add multi unit deals. Maybe even consider lending after you learn how to evaluate deals. I'm able to pay my lender well over 10% and it works out well for both of us... But I always put at least 40% down, make sure your money is protected by equity.

Get a proof of funds letter and call a real estate agent in your area

With many leveraged properties, you will also be able to take advantage of appreciation and debt reduction on all of them. Don't forget about the extra tax benefits such as depreciation and mortgage interest. I think it's all about personal style and where you are at in your career. Being young and having low interest rates right now, I'm trying to buy every quality investment property I can find.

I think this really has more to do with establishing a relationship with an individual at a local bank or credit union that is in a position to make decisions. I've applied for loans at banks I use personally and some that I don't. It seems to me that they are more interested in the overall health of your personal finances and not necessarily which bank you have your cash in. I was able to find a good lender for my investments simply by calling several banks and asking specific questions about the type of loan I was seeking. I talked to several clueless people until I found one who was able to help me and it's been profitable for both of us since. Good luck, financing investments is difficult especially if you are using the BRRR strategy like myself.

I don't know of any way to finance them but I have 4 that I was able to purchase with cash, secure a HELOC that covered my purchase/rehab costs and still have them in positive cash flow... I used two banks for this and it was easier with the credit union but only because the title is in my personal name.

Those cash flow numbers don't look very good but it may be the standard for your area? Are these homes in a place where you would expect to see some appreciation?

Whatever you decide to do with the cash, would your return be better than the $3,300 you pay in taxes? Would the cash flow from the 1031 property increase much with the extra 23k down payment ? I say pay the taxes and buy another property but I'm a fan of leverage. Good luck

I am purchasing a 4 unit property that will need significant renovations that I expect to take a total of 8-10 weeks. I will be purchasing it with cash (mostly my HELOCs) and doing a refinance when it is renovated and occupied. We agreed on a settlement date in 4 weeks and my seller has told me I can begin working on the property immediately. I don't have any other projects at the time and the idea of beginning my renovations now seems like it would save 2-3 weeks of holding costs for me. My questions are: Are there any negatives to starting my work early? How can I properly insure myself for this scenario? It will be mostly myself and a friend or 2 doing demo work. Thank you