All Forum Posts by: Dane Peterson

Morning BP, Attending my first local REI Association Luncheon here in the Sarasota, Bradenton, Venice area today. Didn't know if anyone else here on the forums attends the local Wednesday Luncheon? Send me a message or say hi today if so or you plan to attend a future meeting!

Nathan Steele The Brokerage I hang my license with started out in property management and manages over 200rentals in the SRQ/Bradenton/Venice areas. Message me once you are ready

Just me but if I'm paying that kind of money it better be a full-time property management company with multiple properties and references... Not a sales agents side business

Mark Bouman here is a good read, https://www.biggerpockets.com/real-estate-investing/financing It really depends on your goal with the property. I think it should always come down to your bottom line 💸💰 and what fits your scenario with the risks considered and I would never accept a PREPAYMENT PENALTY. Interest rate is the big one.... Just thinking of a few would be conventional will give up to 30yr term (pro), pmi if less than 20% down payment (con), longer to fund (con), more documentation (con). Hard Money will generally offer shorter term (con), fast decisioning/funding (pro), ability to build rapport/track record (pro) Lists could go on awhile...

Hey BP Crew.

I was curious when it's expected that the "Tools" available to PRO members will make it to the BP App?  Seems to be the one big piece we are lacking on the app.  I was just solicited yesterday from one of the "Guru's of Real Estate" who now has his calculators all through an app so that you can be using these on the go while viewing a property or driving around town through a tablet or phone...

Please add!  This would be huge.

Awesome write up and story! Congratulations The ARV after appraisal was impressive compared to your initial assumed ARV. Next time will you do a walk through on day of closing?

Welcome. I had a very similar introduction to RE investors myself, as a business banker. Your background will provide you with many benefits and should help you grow your portfolio at the same time. Leverage your financial network to get creative in terms of financing. You never know when those successful clients might want to partner on a big apartment complex and you can leverage your licenses.

Have you thought about managing these yourself to start out? It would be good experience to deal directly with tenants when starting out to get an idea of what a property manager experiences and at the same time retain the 10% you'd be paying a property management company. Just my thoughts as you get your feet wet. Final thoughts would be to make sure you calculate all costs with condos. Down in S. Florida the avg monthly condo fees are around $300/mo and includes basic cable/water. The prices you just mentioned with the immediate roi means long process dealing with the banks, competition and cash offers.