All Forum Posts by: Alessandro A.

 @Raul Cesar cortes If I buy this property, I will have $20,000 in reserves. What do you mean by build my war chest exactly? And by credits, do you mean closing credits? Thank you 

@Bob B. thanks for the detailed response. It definitely put things in perspective 

Hey Anna, what did you mean by this last sentence? I’m a newbie so I have a lot of stupid questions. 

@Anna Buffkin This is where I have questions. The property is already in good shape. The current owner made many renovations on it already. Two of the units are fully renovated, while the other two aren’t, but are still in good shape. My plan is to make some exterior cosmetic renovations and renovate the two other units, but I have no idea what the arv is.

@Mike Dorneman thanks for the response. As a newbie that’s trying to put a plan together, any info is great. Raising the rents is definitely part of my plan.

I'm a newbie looking to purchase my first investment property. I found a cash-flowing four-plex on the market for $250k. It is fully rented and is getting $2700 in rent. I am approved for a conventional loan. 25% down and closing costs would cost me around 70k. That is most of the savings that I have, which makes me tentative, but I am happy with the cash-flow. My plan is to add a few cosmetic changes, as the property is already good shape, and in 6 months, cash-out refi enough for a down-payment on another property. Is my implementation of the BRRRR strategy a correct one?

Hello Bigger Pockets! I’m a newbie in Charlotte, NC looking to start a career in real-estate investing. My mother and I are approved for an fha loan and have money for a down payment. We are interested in the buy, hold, and rent strategy. Any info on the Charlotte area would be appreciated. Also, any recommendations for meet-ups that are newbie-friendly would be well appreciated as well. Thank You!