All Forum Posts by: Andrew Syrios

I've also heard that these banks are good and often work with investors, although we haven't gotten any loans from them:

- Adams Dairy Bank

- Arvest Bank

- UMB

- Central Bank

Here are some banks we've worked with and thought were really good as well as the lender we're working with:

- Bank 21, Tyler Knott

- Fidelity Bank, Steve Umphrey

- Cornerstone Bank, Michelle Guthrie

- Great American Bank, Ben Compton

- Alterra Bank, Beth Decuir

- TriCentury Bank, Travis Hicks

- Argentine Federal, Debbie Cornelius

I don't know if I would consider BRRRR to be a whole new dimension of risk, basically the goal is to buy and hold, but get such a good deal you can refinance out all of your investment and be into the property for free. While it's great when you can do it, investing out of state makes it very difficult and I just don't think it's realistic to BRRRR all the way out when investing out of state on a consistent basis.

I suspect HUD will reduce the number of new vouchers it offers, reduce payments to landlords a bit and maybe cut some overhead (although government is never good at doing that, so who knows). In the end, I think landlords who have Section 8 tenants will be fine, but it might be a little harder to find Section 8 tenants when marketing a rental.

BRRRR is hard enough if you're in town. You have to be all into the deal for 75% usually (actually a bit better because of the loan fees). You can certainly invest successfully from out-of-town, although it's something that you need to be very careful doing. But I think it's important to note that if you intend to invest out-of-state, BRRRR is unlikely and you will probably have to bring money to the table.

It's definitely hot right now and much harder to find deals than it was a few years back. Whenever the market is hot and given the Fed has raised rates twice in the last 6 months and is likely to raise them again this year, I do expect the market to soften. But I don't think it will crash, they aren't doing the teaser rates like they were back in the day nor as much 100% or closet to it financing. That being said, you always need to be careful with predictions.

Welcome to BiggerPockets Anthony!

Like a "Flip This House" type show, but with more practical information and less artificial drama... that's certainly an interesting idea

We use RentManager and really like it. 

Also, for larger complexes and operations, Yardi and OneSite are good (from what I hear).

For smaller to more intermediate operations, Apfolio and Buildium are supposed to be good. 

It's really just too hard to say without more information and a better idea of what you're looking to accomplish and what kind of income you have going forward.