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  • D. Single Family Rehab Case Study 2

    This is a case study of a single family deal that I purchased with cash last week.  I am currently renovating it and am going to cash-out refi as soon as I’m done, adding it to my rental portfolio.

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    WANT TO KNOW HOW I AM ABLE TO CASH-OUT REFINANCE UNLIMITED PROPERTIES, WITH NO SEASONING?

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    Comments (22 comments so far)


    1. Mario

      Hello Daniel
      How many houses will you’re lender or what institution is allowing you to refinance houses in today’s market for investors?


      • Daniil

        Hey Mario,

        I’m able to cash-out refi as many houses as I want (at least for now) with no seasoning, using portfolio lenders – local community banks.

        I actually have a private email list where I send you 3 emails telling you exactly how this is done. You can sign up here:

        http://www.rentalvaluator.com/PortfolioLenderList.html

        Daniil.

    2. Very valuable information,

      Great information, simple, easy to understand, make sense.

    3. Hi Daniel,
      Thank you for sharing this great information. I’m a bit confuse on how you get the money to buy; you use the portfolio lender to purchase the property and do the rehab, and then the same lender will refi?

      Thank you again,

      Leo


      • Daniil

        Hey Leo,

        Typically I buy either with cash or private money. I’ve also used portfolio lenders for construction loans – short-term financing of purchase and renovation costs. Then I typically refi with a portfolio lender – a local community bank into long-term financing. Hope that clears it up!

        Daniil.

    4. Daniil, sorry for the typo on the previous comment.

      Thanks!


    5. Vince

      Hi Daniil,
      As always a great video presentation. I was curious, you said in the video your currently renovating this property. Do you have a youtube video or your projects. I think it would be great to see the properties and how it relates to using your valuator analysis programs. I think many investors are working hard IN their projects and not enough time working On them..and linking the 2 together would help is see our projects as its all in the Numbers, what number motivates the action. ie buying to wholesell, flip, or hold?.. What number are our wholesell buyers looking for % of ARV? I’m not sure if this is a question or a statement just my thoughts.. The Magic of the numbers…

    6. I love all the reports and info that can be compiled and printed for investor buyers and lenders. Is there anywhere that we can insert our own company logos to personally brand these reports???


      • Daniil

        Hey Chris – ability to insert a logo is something that I will probably incorporate in a future release (which as a Premium subscriber you’d get free).

        I’ve got a release coming out in a few weeks with some cool features, but this will probably be on the following release!

        Daniil.


    7. Jack

      The case studies are great… very helpful. I am new to the system and I haven’t learned to use it yet, at least not proficiently. I believe it would help me if you could slow down a little in the presentation and move the curser slower so we can see where you are on the page, and where you are moving to on the page, as you explain the procedure. I need a moment for it sink in.

      Thanks. ‘Look’n Good!


    8. BOB BALDWIN

      Outstanding presentation ! Even I a newbie “got it”.


    9. Bernadette Warfield

      Since, my husband and I are looking to due rehabs he really likes your before and after photos, he would like to see any total rehab projects you have done.

      Thanks

    10. Very thorough investment analysis of a rehab/refinance, rent and hold. Thanks for walking through this project step by step. It clarifies just how to best utilize all the features of the software program.


    11. J Michael Fimbres

      Hi Daniil, I like these case studies & will probably upgrade. I’m a Realtor in SD CA & I’ve handled a number of fix & flips for investor clients & I’d like to start doing my own as well, I don’t have enough of my own cash but do have access to some private lenders that would probably work w/me…but they would likely require ‘skin in the game’ of at least 30% Do you have any tutorials on how to structure deals w/o your own money? Also I noticed that most of these case studies appear to be at least 2-3 years old or more…(based on the int. rates) will (or do you) have more up to date case studies (my mkt now has very low inventory & has seen an avg of 13% rise in sales prices over this time last year.) thx very much. -jMF.


      • Daniil

        Hi Michael. These case studies are NOT 2-3 years old just FYI. Most of them are less than 12 months old, some very recent. You’re assuming the age of the case studies based on the interest rates I’m providing? As of Nov 2012 (when I’m writing this comment), I’m financing deals between 5.2% and 7% at local lenders.

        As far as you having access to private lenders that require 30% skin in the game – my suggestion is find better private lenders! 🙂 If the deal is strong enough, you should be able to convince private lenders to finance 100% of your project. Take a look at my private money structuring case studies here: http://rehabvaluator.com/case-studies. Thanks!

    12. Hi Daniil,
      Great stuff, i am a remodeling carpenter and i am blessed to work for a realator who also has his own rehab crew we went to school together and by the grace of God was reunited one day at a mcdonalds anyway, with my extensive knowledge and ability to run and estimate jobs along with my passion for remodeling and a great desire and determination to get into to the business myself. I have watched numerous webinars and wasted money on several programs that just didnt pan out in the real world. Since i have no money and no credit I figured my best way to get into the business is to work for a realator prove myself worthy and in the mean time contact local investors find out their criteria and match them up with deals my boss has on the table then wholesale them out to start building my account to eventually buy my own rehab with cash then find a lender to finance the rehab and do a split at the end. Then just continue to reinvest until i can eventually buy and rehab the whole deal myself in order to build a retirement portfolio. i received a link for your God sent rehab valuator from being on a local investors email list im still watching the videos and getting familiar with all it does before i upgrade, but to get to the point this is a great tool that is gonna open some major doors for me, as my boss is flying out to texas the first week of feb to meet with some big time investors who are gonna fund deals to purcase 100 properties at a time your program will allow me to send out professionally done marketing presentations that im sure will yeild me my first of many wholesale deals. but after watching this video it occured to me that i may be able to fast forward my goals by getting private money or even bank refi’s my delimma is my credit score is only 498 🙁 will that effect my abiliyt to get a bank to lend to me. thanx sorry for the letter but i’m truly excited and anxious to cash in on this market. p.s. i just did sign up for your email series on private money thanks for your passion and giving heart may God bless you.


    13. steve

      Awesome so the Velocity of your money………I guess or assume you figure paying bank 6.5% long term cause renters are paying it for you, then you take initial cash you used to purchase property and go find another….. making a greater return with your money and faster. OK just thinking aloud


    14. Nitin

      HI Daniil,
      Can you share the names of portfolio lenders who do no seasoning cash out refi? I am located in CA but buy rental properties in FL, Texas and Indiana


      • Daniil

        Nitin – You need to look for portfolio lenders directly in the cities and counties you’re BUYING property in. They are all local banks who are mandated to lend in that local area. So whatever city in Florida you’re buying in, look for local banks and credit unions THERE.

    15. Awesome, incredible value, Thank you!!


    16. Gibson Ncube

      Great stuff Daniil! Thank you.


    17. Daniel McNeil

      Love your case studies. keep them coming Daniel AWESOME!!