All Forum Posts by: Travis Turnbull

Thank you @Chris Mason and @Eamonn McElroy

So I’m in a pickle and don’t know what to do. I have two cash flowing properties and told my new accountant that I am an investor and am looking to buy more properties. I got my returns back and my accountant had both them down as a loss on my return after deductions. I’m trying to buy another property now, but my mortgage broker is  saying my debt to income ratio is too high. Am I screwed? Please help. Is there anything I can do to fix this? Thanks.

-Travis

David Fernandez I have not, but that might be a really good option for me,I appreciate the feedback!

Hi everyone,

Here is a little background on a vacation rental I have already purchased, that I could use some extra money for renovations on. I bought this property back in November right after the hurricane in Florida and had to put a new roof on it immediately. However, even before putting the new roof on it appraised for about $10,000 more than I bought it for. I bought the property for $355,000 and most properties with similar specs are selling in my neighborhood anywhere from $400,000 to $570,000. I expect my ARV to be somewhere around $450,000-$475,000 after putting another $30-40k into it(I have already put in roughly $15k in for renovations) I bought it with the idea to use the BRRRR strategy, but have gotten thrown a bit off -track with everything in Florida being crazy since the hurricane, so I rented it as a 6 month rental. That rental will be up in june and In the meantime some unfortunate things have happened with my job. This has resulted in me not getting paid the money that I was supposed to get, which I was going to use for these renovations. I need to reposition this property so that I can get higher rents during the winter months and also pull my money back out after the cash out refi so that I can scale and keep buying properties and not stretch myself so thin financially. What are my best options? Should I use a HELOC? I also have a couple friends who want to get into real estate investing and have offered to loan me the money with interest. Is that something I should explore? I do not have any experience in getting loans from friends, family or a private lender and am a bit hesitant in doing so and don't know much about structuring a deal like that. I currently have two successful deals under my belt in the last year, in buy and holds with the BRRRR strategy, but all funded with my own money.

Please let me know your thoughts I still consider myself a newbie at this point and am eager to learn about all of my options. Thanks!

-Travis

@Zach Stillman either or, preferably one where I can do a bit of updating, but has good bones. @David Ounanian will do.

Hi Everyone,

  I am currently looking for a Duplex in the Clayton, and University City areas of St. Louis, MO. Preferably Under 500,000k. Please dm me with any leads! Thanks.

-Travis 

Extremely happy for you @Megan Greathouse! You are doing all the right things! keep it going.

-Travis

Welcome @Blake Mattan!  I am fairly new as well, but am growing quickly! Feel free to message me anytime!

Travis

Thanks!

Hi everyone, Just wondering what has worked best for holding your security deposits. I am an investor from Missouri and wanted to see if I could get some feedback on where other investors hold their security deposits! Thanks -Travis