All Forum Posts by: Ace Kaspar

Ill be the guy who says I do believe STR is still doable in some markets.

If I were to rent out a condo at the beach or a place in Las Vegas, I know I would still be fine for the long term even if demand goes down for the next 1-2 years.

Still worth the long term investment if you're doing your research into the market you are deciding to invest in.

Due diligence before buying a place is key.

Don't follow the masses just saying to buy in an area.

Do your own research.

0 Votes

Quote from @Steele Kruzel:

I'm a new member. Looking for tools, mentors, meetups and advice for getting started with BRRRR investing. I'm currently reading the BRRRR book and looking to find my core 4. Any advice you have or networking you can help with would be greatly appreciated. I live in Indiana looking to invest around Indianapolis, IN. Thank you for any and all help!

Welcome Steele!

When it comes to BRRRR it is a pretty straight forward process and I don't mind talking to you about it. One of my friends is currently doing a BRRRR with a 20 unit apartment complex and we chat about creating equity value and how to go about finding said deals even if we don't make them ourselves.

I have unknowingly did a BRRRR with my first house but at a high level just a few changes.

Feel free to DM me if you want to chat more.

1 Vote

Indianapolis, Indiana

When you cash out refinance a BRRRR that has increased in value, how do you go about paying that back and keep pace to cash out and keep BRRRR-ing on to the next?

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Quote from @Greg R.:

This is a very subjective question, but I'd like to know which markets you think are going to prosper the most in the future. There are no right or wrong answers, just curious which markets you're betting on to see significant price and rental growth in the future.

I left out many great areas but to list a few:

Charlotte, NC
Nashville, TN
Durham, NC
Virginia Beach, VA
Charleston, SC
Austin, TX
Columbus, OH
Miami, FL
Grand Rapids, MI

10 Votes

Dallas, Texas

Quote from @Justin Hammerle:

Hi Ace, do you have any local agent connections? Local agents who work with other investors are a great resource to get referrals for equity/debt partners on deals.

Hi Justin,

For this particular deal I would just need an investor as I already have off market deals coming through.

Thanks for the input on this!

0 Votes

Fayetteville, North Carolina

Hi all!

I am getting into my first BRRRR but curious about how to find someone to partner up with seeing as I know a lot about it but have not done it myself.

Any advice is appreciated!

1 Vote

Fayetteville, North Carolina

Quote from @Stephanie Espinal:

@Ace Kaspar You are awesome! Thank you for reminding me the math.

I will definitely reach out to you if I need further information.

Sounds good to me. I am always happy to help others and I would like to hear how it goes once you get into it!

0 Votes

Orlando, Florida

Quote from @Stephanie Espinal:

Hello all:

I am starting out in this new journey, and I want to start out with a duplex. I live in Orlando, FL. I have a realtor working with me already. He is sending me listings, but after doing research and analyzing the properties, the ones that promise a good return, need a fix up.

My question here is, how much money do I really need to have in hand for the closing costs approximately to start in this journey.

Thank you all.

Stephanie

Hi Stephanie,

Ill use an example below to help explain that:

This is based off buying a $100,000 property to keep it simple.

If you are buying your first home then you can get a conventional loan at 3% down (dependent that you have at least a 620 credit score and must be your primary residence)

Down payment: $100,000 x 3% = $3,000
Closing cost: Depends. Could range from 1% - 5% of the price of the home. In this example that would be $1,000 - $5,000.

On the safe side it would look like this:

Closing cost: $4,000
Down payment: $3,000

Depends on the price of the house and this is just an example but I hope this helps in some way. If you would like to talk more in depth about this just shoot me a DM and I would be more than happy to dive in details.

Hope it goes well!

0 Votes

Orlando, Florida

Quote from @Ace Kaspar:

Quote from @William Lokar:

For many of us investors, we spend a large amount of time on the move and using our mobile devices. While a do appreciate the relative ease of navigating the BiggerPockets website on a mobile device, I wonder how many of you feel a mobile app would greatly enhance your user experience. Feel free to chime in. Does anyone know if one is in the works?

Hi William,

I actually had a talk about this with several investors at Pint and Properties meet up yesterday.

A lot of us felt we had a better user experience when using the app and it is a little more difficult to use the site, communicate with other when we are on the go.

The browser is great when I am on my PC but when I am away from my computer it is not ideal.

I am happy to go more in depth and if you would like that just shoot me a DM!

Best,
Ace

Oh I forgot to mention,

There was an app in the past but that was removed to focus more on the browser for computer version.

0 Votes

Quote from @William Lokar:

0 Votes

All Forum Posts by: Ace Kaspar

Ace Kaspar has started 17 posts and replied 106 times.

Post: Another one bites the dust

Post: New Member BRRRR

Post: Refinancing BRRRR Question

Post: What markets do you consider to be the most promising?

Post: Joint Ventures Fayetteville

Post: Joint Ventures Fayetteville

Post: How much cash in hand should I have to start out!

Post: How much cash in hand should I have to start out!

Post: Would you like to see a BiggerPockets app for your phone?

Post: Would you like to see a BiggerPockets app for your phone?