All Forum Posts by: Tuvia Goldstein

The difference will be how much equity you have in the property. On a brrrr you build equity through improving the property, so even if you can’t pull out 10% of your money, you’ll still be left with more than 10% equity.

@Meryl McElwain

I’m looking into turning a 16,000 sq foot school building into apartments. I’m not sure yet how many the local zoning board would let me do...

I've done smaller SFH or duplexes, but nothing on a later scale.

What should I anticipate as an extra construction cost for doing this type of project that wouldn't appear in a SFH or small multi?

I would be keeping foundation, exterior walls, and roof at a minimum.

@Ryan Deasy

Hi Ryan,

I’m looking into converting a warehouse into an apartment building as well. Have you made progress with your initiative? Any guidance that you can provide?

Thanks!

@Sean Rooks

Did you get it refinanced through a traditional bank? No seasoning period required?

What rates and terms were you able to get?

What does the forum think about a potential tenant with a dog (lab retriever). What are some safeguards to have in place? Do I ask for more of a security deposit?

@Kenneth Garrett

Thanks! I’ll look into that.

Hi All!

I am involved in my first few BRRRR deals and am realizing that the refi part of it isn't as simple as I thought. It seems that many banks dont allow for a refi within the first 6 months. Some allow for what they called delayed financing - which means you can only get financing on the cash that you put into the deal, but not more...

Does anybody have a good connection of a lender that specializes in getting good terms and rates on a refi within the first 6 months? I'm in touch with a few people, but wanted to see if the forum had any insight on this. Is it reasonable to expect to find a conventional method with low interest rates within this period of time?

Thanks!

@Karen Kerry

@Kenneth Garrett

How do you collect rent? I see that Smart move doesn't do that.

I am looking for a relationship with a lender To provide cash out refinances  or home equity lines of credit for a few residential properties in the Philadelphia Pennsylvania area. Does anybody have any connections that they can share with me? Much appreciated!

I appreciate everybody’s feedback. Very helpful.