All Forum Posts by: Robin Simon
Robin Simon has started 636 posts and replied 3875 times.
Post: Six Unit Multi-Family BRRRR
#3 Private Lending & Conventional Mortgage Advice ContributorPosted - Lender
- Austin, TX
- Posts 4,576
- Votes 4,423
Congrats - have you completed the deal yet (4 leases in place, STRS up and running)? Are you thinking about doing a refinance into a more formal 30-year long-term loan out of the private money / personal funds to recoup the cash?
Post: Work Roles for new Multifamily Business
#3 Private Lending & Conventional Mortgage Advice ContributorPosted - Lender
- Austin, TX
- Posts 4,576
- Votes 4,423
Quote from @Steven Kleppin:
I'm looking to develop a Gino Wickman/Traction style organizational chart for a new multifamily business. Has anyone seen something like this or want to give a shot at those positions? Off the cuff:
-Acquisition
-PM
-Investor Relations
-Operations
-Bookkeeping/finances
-Legal
Thanks!
lots of "depends on" here on type, size, location etc - but seriously consider if bookkeeping/finances or Legal necessarily need to be in-house vs. outsourcing, lots of specialists for cheap and highly experienced to hire instead of a full-time employee doing these roles for you
Post: My Best Fix & Flip Yet!
#3 Private Lending & Conventional Mortgage Advice ContributorPosted - Lender
- Austin, TX
- Posts 4,576
- Votes 4,423
Congrats, looks like a great deal (although you might need a new lender for the next one 😊
Post: IF I CAN DO IT, SO CAN YOU!
#3 Private Lending & Conventional Mortgage Advice ContributorPosted - Lender
- Austin, TX
- Posts 4,576
- Votes 4,423
Congrats, thats a home run deal if I've ever seen one!
Post: Looking at this deal would you BRRRR or Flip?
#3 Private Lending & Conventional Mortgage Advice ContributorPosted - Lender
- Austin, TX
- Posts 4,576
- Votes 4,423
Have you actually purchased/started yet? In this market, I would strongly strongly suggest in this environment structuring towards optionality (being able to BRRRR or flip in 4 months at project completion depending on the numbers) rather than locking in to one strategy at the get-go
Post: New Construction for House Hacking and LTR in Myrtle Beach
#3 Private Lending & Conventional Mortgage Advice ContributorPosted - Lender
- Austin, TX
- Posts 4,576
- Votes 4,423
Good stuff, thanks for sharing. Sounds like Myrtle Beach is a good-looking market, these nice secondary markets that avoided the worst bubble craze of the last couple of years (Sevierville, Boise, etc.) will probably do very well in the coming years
Post: WSJ: Investor Home Purchases Drop 30% as Rising Rates, High Price
#3 Private Lending & Conventional Mortgage Advice ContributorPosted - Lender
- Austin, TX
- Posts 4,576
- Votes 4,423
Interesting article today from WSJ on investor slowdown in purchasing homes in the current market
Post: Fix and Flip Durham NC
#3 Private Lending & Conventional Mortgage Advice ContributorPosted - Lender
- Austin, TX
- Posts 4,576
- Votes 4,423
Congrats, nice work!
Post: Selling an STR - how/where to advertise?
#3 Private Lending & Conventional Mortgage Advice ContributorPosted - Lender
- Austin, TX
- Posts 4,576
- Votes 4,423
Quote from @Michael Lynn:
Hi BP STR investors, we've listed our Hollywood, FL property for-sale as a turnkey STR. I'm looking for advice on how/where I should advertise to get the most engagement, especially with fellow STR investors. Am I able to share the listing here in BP STR?
The property has been great, and we currently have all five-star reviews. We're selling specifically to re-invest the capital into an opportunity in Texas.
Thank you!
Mike
The FB Group "Airbnb homes for sale" is pretty popular and high-volume with potential buyers
Post: Using BRRRR to expand my portfolio
#3 Private Lending & Conventional Mortgage Advice ContributorPosted - Lender
- Austin, TX
- Posts 4,576
- Votes 4,423
I don't think you are missing anything - thats definitely the main benefit of BRRRR - being able to use that same capital over and over again, the key is being able to manage and successfully execute on the rehab side of the equation, which is obviously more challenging than just purchasing turnkey properties