All Forum Posts by: Rich Emery

Hello BP Fam,

Most DSCR lenders I've spoken to have a penalty for selling a property within the first 5 years of purchasing the property. Does anybody know of a lender that has DSCR loans that do not have this penalty? Or maybe not as severe a penalty as I've heard so far? What I have heard so far is 5% penalty within 1st year, 4% in year 2, 3% in year3, etc.

Let me know your thoughts!

Thanks!

Rich

Yes!  I don't think that's the episode I listened to but you got me to the destination anyway.  Thank you so much.  

While on the topic, are there other companies that do stuff like this??

I can't seem to find a podcast from the last couple weeks and it has great information I need to apply!  Here's the details:

I was listening to a BP podcast or BP adjacent podcast over the last 2 weeks and I remember it mentioning a company that can assist in styling for renovating homes.  Something to the effect that they will look at pics and video of the space and give you ideas on how to make the space unique with good style to help your place stand apart from the competition and you can purchase the material from the company as well (think wall accents, cabinetry, etc)

I think the pod dropped in the last couple weeks. There's a chance it could be a Robuilt or DG podcast but I don't think so.

I'm scouring my history and can't seem to find the podcast where they talked about this.  If anybody has insight into this, please reply!

Give me a call at your convenience: 970-699-0679

Hi,

Is this still available?

Thanks!

Hi Sydney,

This is super late but I wanted to reach out if you're still looking to get to learn more about STR? I have a fair bit of experience with it and looking to grow out here. Feel free to reach out if you're looking to learn more!

Thx,

Rich

970-699-0679

Hello BP fam,

Looking for lenders that would consider lending construction costs on a historic property in Covington I recently acquired (duplex).  This would require lender to be in 2nd lien position, as there's already a private money loan in place from acquiring the property.   Feel free to reach out!

Thx,

Rich

Hello BP Family,

I've managed my own properties for over a decade and I'm looking to start a property management business where I manage other investor's rental properties.  I have over a decade experience managing my own short/medium/long term rentals.

That being said, I'm not really sure where to start in managing other's properties (I may be overthinking this quite a bit).   I'm debating on growing my own business from the ground up or potentially starting a franchise.   I'd love input from managers from both perspectives.

I like the idea of a franchise with a system in place already.  However, I don't like the potential constraints with growth on this (territory size, royalties, franchise fees, etc).

I also like the idea of starting my own business from the ground up.  However, I feel like there's a lot of potential to run into a lot of walls/pitfalls that can cost a ton of time/money if I do this route.

At the end of the day, I want to put a lot of emphasis on using the newest technologies to streamline the business as much as possible.  I feel like I need a lot more structure when managing other's properties and I want to make sure I do this right

Appreciate any and all thoughts!

-Rich

Fantastic, I'll give them a call!

Single to multi fam.  Just because I'm new to the area, maybe sporadic at first.  Hoping to make it consistent over time though.