Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 3 years ago,

User Stats

13
Posts
1
Votes
Donnie Baer
  • Uniontown, PA
1
Votes |
13
Posts

First time BRRR -single family home

Donnie Baer
  • Uniontown, PA
Posted

Hi,

My name is Donnie, new to bigger pockets group but been researching real estate for about 9 months now. I have a few properties in my area that I would like to purchase, my debt to income ratio isn’t where the banks need it to be since I just purchased a home last year.

I’ve already talked to a broker that I bought my home off of that I couldn’t purchase a rental with my current income 

My situation is that I wanted to rent to own my current property I live in now and buy another fixer up in my town. My town with rent to own would be approximately $950-1000 a month and I would require a down payment of 5k.

The house I'm looking at is 75k that's on the MLS needs about 35k (probably on the high side) houses in the area sells for 150-160k ARV. Looking to make an offer of 55k for the property.

As of right now I have about $18,000 in Bitcoin / crypto’s that I want to make sure I break even on taxes if I pull it out for real estate 

Does anyone have any tips of what I should do, or if you think I’m doing something to where I could make a mistake please let me know… I’m still struggling to find a place where I can find a loan / partner to help fund what I’m looking to do.