Kevin | Loans for Landlords

About me: 1: Long Term Debt, I lend money to landlords with 1-9 unit apartment buildings. 2: Short Term Debt, I raise money from passive investors, and lend it out on projects I can vist and monitor personally.

@sweatystartup Heaviest available. Been hit by two gig drivers delivering food. Gig drivers won’t have heavy cars. Play the odds.

Never put your child in a Camry, Corolla or civic. Why would you put somebody you love in a car that makes you 2x likely to die in an accident? Big cars only. Full size SUV.

@thmoneycircle @Reiwholesaler Well at least you know there’s less wear and tear on that unit with all the friends that person definitely doesn’t have.

@Reiwholesaler Would rather have a python than a cat

Tenant asked if we allow pets We do She asked if a python counts Currently rewriting my pet policy

@DallasAptGP Spent the 20 mins figuring it out and it’s nice to have across all devices.

I'll be honest, I don't know how to use passkeys and at this point I don't want to know

@plasticboss Forgot to tell you there’s a $500k-$1m vendor license you need to bid up against the other 100 guys wanting that stretch of beach. Same goes for kayak rentals, and virtually every extracurricular activity generating revenue from that sand.

My next business venture is buying a beach chair rental company. Spoke to a guy on the beach today. He charges $50/day for 2 chairs and an umbrella. 9am - 4pm rental He owns 5500 chairs up and down the beach. The business grosses over $5M in 4 months. Think about this. Chairs and Umbrellas paid for. Pay some employees to set up and take down the chairs. Storage cost for the offseason. Bank account building everyday with minimal overhead. I’m looking to buy.

@JakeFleshner Boring lending

Pitch me your company in 2 words Angel invested in 40+ companies and always looking for more

@hxxntrr lol $300 and an exam in FL for a GC. Couldn’t even read the statues before posting this dribble eh?

Every time a hurricane hits Florida a guy I know wires $200,000 in 0% credit card money to a roofing crew and makes half a million dollars in 90 days He doesn't own a roofing company. He doesn't own a ladder. He can't name a single type of shingle. He's a middleman with a phone, a credit stack, and absolutely zero shame Here's the play. When a Category 3+ hurricane hits, every house in a 50-mile radius needs a new roof. Insurance covers it. But the homeowner has to pay the deductible ($5,000-$15,000) and front the contractor costs before the insurance reimbursement arrives. That reimbursement takes 60-120 days The homeowners are desperate. Their ceiling is leaking. Mold is growing. They need a roof NOW, not in 4 months when State Farm finally cuts the check He shows up 48 hours after the storm. Knocks on doors. "I'll coordinate your entire roof replacement. I handle the contractor, the insurance claim, the supplement negotiation, everything. You pay your deductible and sign an Assignment of Benefits. I do the rest" The Assignment of Benefits (AOB) transfers the insurance payment from the homeowner to his company. When State Farm cuts the check 90 days later, it goes directly to him His cost structure per roof: Roofing crew (subcontracted): $8,000-$14,000 depending on size Materials (purchased on 0% business cards): $6,000-$10,000 Permit and inspection: $500-$800 Total cost: $14,500-$24,800 per roof Insurance payout per roof (after supplement negotiations where he argues for more money from the insurer): $28,000-$45,000 Average profit per roof: $15,000-$20,000 In 90 days after a major hurricane he completes 25-35 roofs. At $17,500 average profit: $437,500-$612,500 The 0% credit cards fund everything upfront. Materials on Chase. Crew deposits on Amex. Equipment rentals on Capital One. He's floating $150,000-$200,000 at any given time. The insurance checks arrive 60-120 days later and pay the cards to zero His annual income depends entirely on how many storms hit. A quiet hurricane season: $200,000. An active season: $800,000+. The year Hurricane Ian hit Fort Myers he cleared $1.1 million in 5 months "isn't storm chasing predatory" The alternative for the homeowner is calling 40 roofing companies who are all booked for 6 months, living under a tarp, watching mold eat their drywall, and fighting with their insurance company alone. He shows up within 48 hours, puts a crew on the roof within a week, and handles the insurance nightmare so the homeowner doesn't have to His Yelp reviews are 4.8 stars. The homeowners love him. The insurance companies hate him because he's too good at supplement negotiations (arguing that the damage is worse than the adjuster estimated, which it usually is) "what about when there's no hurricane" He does the same play with hailstorms in Texas and tornado damage in the Midwest. There's always a natural disaster somewhere. He follows the weather like a hedge fund follows earnings reports He has a weather app that sends alerts for any storm system with destructive potential. When it hits, he's on a plane within 12 hours with a laptop and a stack of business cards (both kinds) "this has to require a license" Depends on the state. He holds a general contractor license in Florida ($300 + exam). In Texas he operates as a "roofing sales organization" which has different requirements. In some states he operates as a public adjuster ($1,000 license). He holds whatever license the state requires to legally write the contract His crew is a team of 8 roofers from Guatemala who've been with him for 4 years. They travel to whatever state just got hit. They can roof a house in 2 days. He pays them $4,000-$6,000 per house and they do 30 houses per storm He told me "everyone acts like disaster recovery is charity work. It's not. It's the most profitable trade in America and it happens on a schedule published by the National Hurricane Center. I just read the schedule" Mother Nature is his lead generation. State Farm is his customer. Chase is his bank. The homeowner gets a roof. He gets $500K. The only loser is the insurance company who priced their premiums too low lmfaooo dm me "funding" and i'll show you how you can qualify for up to 250k in 0% APR funding (if you have a 700+)

Oof, had something similar happen, but guy was wearing a Louis Vuitton belt to establish authority.

@GeorgeJSaliba Escalade. Euro refinement kills it. Hell, my Raptor is a better daily tbh.

What's one car you'll NEVER own again... and why? Let’s hear it!

@dig_deeper1 It’s the frog in the pot. They just keep raising prices slowly over time, next thing you know it’s “normal” then you move and realize it’s a grift when you finally move somewhere else.

@KevinDureiko Damn CT. Why that expensive there ?

This is how crazy the electricity cost in Phoenix AZ is My primary home of 2300 sq ft two story house the electricity was $550. That was last year during peak summer Now that house is rented so I’m sure the cost is about the same. I have another rental in El Paso TX around the same sq ft and two story and the temperatures in El Paso are around 105. It also gets hot in El Paso. The cost there is $150 $400 difference during peak times, insane. The thermostat temperatures are the same 76 degrees. The cost of the water is less too

@financeguy725 Lmao that’s awesome. That V8 is stout.

when I left Wall Street I bought a tundra for $2k from a little old man Here’s a picture of it after it got into its 3rd hit and run in a year (t boned while parallel parked) She’s still in the fleet today 🥰

@TheDebtInvestor They won’t stop till the city is on fire. It’s wild to watch.

there are regulations on lending too, but nowhere near as bad lending > landlording

@juliusmarchi Congrats man. Not many firsts feel like that.

Collecting my first rent payments as a new landlord feels pretty cool.

You WANT the tenant calling you about a broken toilet. You have the opportunity to build obscene generational wealth and you’re worried about “tenants, toilets and 2 am calls” You want to make doctor money but won’t deal with little problems and that’s MIND boggling. Doctors goto school for 12 years and only sleep 6 of them. Accumulating hundreds of thousands in debt and make damn near nothing for the first 5 years. You can pull $20k a month on a portfolio built in 2-3 years and you might have to fish legos out of a shitter on a Tuesday. You’re going to win. Every. Time.

@oside_debt_guy (I say no.)

@oside_debt_guy The amount of funding requests I’m getting out of Boston is WILD. Passed a new ADU ordnance and every one wants to build one in their garage.

ADUs won't solve your real estate problems. They will compound them if you aren't careful. Sorry ADU gurus.

@TheDebtInvestor That’s solid. Cold email?

generating ~6 interested seller leads per day right now for about $8 each might make a free training to show you guys how

1/10 Six months studying “subject-to” and zero closings. Impressive dedication to a hobby. 2/10 You don’t need a creative financing strategy. You need a second job. 3/10 The most creative financing structure in real estate is called “a side quest you don’t blow at the bar.” 4/10 Spent all weekend hunting for a seller who’ll carry the note at 0% down. Could’ve spent it working side jobs and just… having the down payment. 5/10 “I’m looking for off-market seller-financed deals” is real estate speak for “I don’t want to be uncomfortable and tired for four months.” 6/10 Nobody ever built a portfolio on a wraparound mortgage. They built it on boring cash and bad sleep. 7/10 The unicorn deal you’re chasing has a 1% chance of existing and a 100% chance of wasting your year. 8/10 Raising capital is uncomfortable. Fantasy-deal-hunting feels like work. Only one of them pays. 9/10 Your BiggerPockets forum PhD in creative financing > actually asking 20 people for money. Curious choice. 10/10 There’s no seller finance deal creative enough to replace just going and earning the $40k for your first deal in suburban Ohio.

@ChrandLord Brother, you know better than slip-ons at the work site. Get you some Brunt’s or something equally comfortable.

How do I do it?!