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All Forum Posts by: Bobby Paquette

Bobby Paquette has started 63 posts and replied 185 times.

Post: How high can your lender go on Purchase Price and Rehab

Bobby Paquette
Posted
  • Real Estate Agent
  • Charleston, SC
  • Posts 214
  • Votes 84

I am looking to see if anyone has lenders that can fund 90-100% of the Purchase Price, and Rehab costs of a project. I don't have an issue getting a deal, but the capital is just limited. If I need to get my all in costs to 65% of the ARV, I will get to that point. Looking to build a relationship so I can continue to scale and use the same lender.My current one won't go above 80%

Post: medium term rental Goals?

Bobby Paquette
Posted
  • Real Estate Agent
  • Charleston, SC
  • Posts 214
  • Votes 84
Quote from @Bonnie Low:
Quote from @Yue Lehman:
Quote from @Bonnie Low:

We have a somewhat unique model. We buy properties that have a main house, which we LTR and a secondary living space - usually a detached garage or shop - which we convert to an ADU to use as an MTR. So far this is working really well for us. We like the diversity of long and mid-term rentals together. We pay most of our expenses for both units with the rent from the LTR and the cash flow from the MTR is bonus. Right now, this strategy yields us $800-$1000/mo cash flow, depending on the property. I'm hesitant to go all in on MTR because I don't want all my eggs in one basket and it's more work to manage the MTRs but I love that we can switch pretty easily between long and midterm if we need to. We use a PM company for our LTRs. I'm really liking this combination.


 This is a great strategy, thank you for sharing!! 


You're welcome! Say what you will about CA, but the ADU laws are one of the things our home state has done right. With such a need across the US for affordable housing (not to mention the benefit for the property owner of having a cash generating unit if they want or need to house hack) I hope to see more states embracing this model!


I was just listening to David Greene Talk about the ADU laws in california and how amazing they are!

Post: medium term rental Goals?

Bobby Paquette
Posted
  • Real Estate Agent
  • Charleston, SC
  • Posts 214
  • Votes 84

That’s awesome, love that strategy. How do your LTR tenants feel about that?

Post: medium term rental Goals?

Bobby Paquette
Posted
  • Real Estate Agent
  • Charleston, SC
  • Posts 214
  • Votes 84

What are your goals with MTR’s? How many do you have/want to scale too? 

What’s your avg cash flow on them? 

Looking to potentially expand into this space!

Post: LLC? S-Corp? Land Trust?

Bobby Paquette
Posted
  • Real Estate Agent
  • Charleston, SC
  • Posts 214
  • Votes 84

How do you your rentals structured ? Do you own them in your personal name? In an LLC, and S-Corp, C-Corp? A land trust that is owned by an S-Corp? Curious to hear everyones setup!

Post: Buy Rehab Refinance Timeframe

Bobby Paquette
Posted
  • Real Estate Agent
  • Charleston, SC
  • Posts 214
  • Votes 84

Are any lenders still doing Refi’s of 75-80% of the Appraisal if rehab if less than 6 Months? 

Post: THE Destination ?

Bobby Paquette
Posted
  • Real Estate Agent
  • Charleston, SC
  • Posts 214
  • Votes 84

Have not purchased a STR, stayed in a bunch of them. I'm looking to expand & diversify my portfolio and would love to add some STR's. What markets are some of you looking in that have defined STR Laws already that don't cost an arm and leg to get into? What markets do you like and why?

I live in Charleston, SC, and invest in the Midwest currently.

Post: Strategy in this Market

Bobby Paquette
Posted
  • Real Estate Agent
  • Charleston, SC
  • Posts 214
  • Votes 84

What’s some strategies you’re taking in this current market? 

Post: Contractors in Indy/Anderson, IN area

Bobby Paquette
Posted
  • Real Estate Agent
  • Charleston, SC
  • Posts 214
  • Votes 84

Looking for some recommendations on contractors in the Indy, and Anderson, Indiana areas. Will be looking to do some BRRR's and rehab up to an entire house, potentially add a bedroom if layout allows.

Post: What's your TOP Investment Destination and 3 Reasons Why!

Bobby Paquette
Posted
  • Real Estate Agent
  • Charleston, SC
  • Posts 214
  • Votes 84

@Jay Hinrichs Charleston, SC?