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Updated over 3 years ago, 07/12/2021

User Stats

78
Posts
60
Votes
Christopher Lane
  • Rental Property Investor
  • Oceanside, CA
60
Votes |
78
Posts

Finaly able to put a cash offer on my first BRRRR deal!!

Christopher Lane
  • Rental Property Investor
  • Oceanside, CA
Posted

Hi everyone, I was able to secure a HELOC for 50k. I have 16k in the bank and I can finally put a cash offer on a currently occupied duplex. I am having trouble getting responses from listing agents - Is this normal? This will be my first property and I plan on getting a second before years end. I have a ton of questions...

- I live in CA and want to invest out of state do I get an LLC for the state I am in or the state I invest in?

- What should I offer on a house? 50% of listing price? 75%?

- What should I look for that has burned you in the past?

- I plan on adding renovation costs into escrow then pulling all money out in a HUD refi (as mentioned on BP Podcast #301)

Thanks in advance for your help!

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