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All Forum Posts by: Andrew Scherz

Andrew Scherz has started 2 posts and replied 3 times.

Post: First Investment Strategy

Andrew ScherzPosted
  • Posts 3
  • Votes 1

Thanks guys! All very good input. I honestly hadn't even heard of a 203(k) loan yet! That's definitely something I'll look into.

Post: First Investment Strategy

Andrew ScherzPosted
  • Posts 3
  • Votes 1

Hey guys,

Super excited to be joining BP and looking forward to my REI career!! I'm still in the gaining knowledge phase, but my goal is to make my first investment by the end of the year. My direction, at least at first, is going to be investing in rental properties. My girlfriend and I plan on moving in together and she is onboard with my newly peaked REI interest. If I was making this post a few years back, I would certainly be leaning towards the House Hacking method, but I don't think she'd go for living in a duplex/triplex with other tenants, and considering we have two Australian Shepherds.

Anyway, this is where my head is at for our first strategy: Buying our first live-in home as a fixer-upper and kinda/sorta implementing the BRRRR strategy. Once the rehab is complete, we can then refinance the home, hopefully covering our initial loan and rehab costs. Once we find a new (longer-term) home for ourselves, we can then rent out this property and start generating cash flow, leaving us with our first investment property!

I know it's a pretty vague strategy but these are just my preliminary thoughts. Let me know what you guys think and if there are any holes in my strategy that I'm not thinking about.

Any and all input is welcome!

Hey guys, 

Super excited to be joining BP and looking forward to my REI career!! I'm still in the gaining knowledge phase, but my goal is to make my first investment by the end of the year. My direction, at least at first, is going to be investing in rental properties. My girlfriend and I plan on moving in together and she is onboard with my newly peaked REI interest. If I was making this post a few years back, I would certainly be leaning towards the House Hacking method, but I don't think she'd go for living in a duplex/triplex with other tenants, and considering we have two Australian Shepherds.

Anyway, this is where my head is at for our first strategy: Buying our first live-in home as a fixer-upper and kinda/sorta implementing the BRRRR strategy. Once the rehab is complete, we can then refinance the home, hopefully covering our initial loan and rehab costs. Once we find a new (longer-term) home for ourselves, we can then rent out this property and start generating cash flow, leaving us with our first investment property!

I know it's a pretty vague strategy but these are just my preliminary thoughts. Let me know what you guys think and if there are any holes in my strategy that I'm not thinking about.

Any and all input is welcome!