All Forum Posts by: Ali MirRasekhian

Hi @Andrew Steffens I'm looking for options on the Atlantic side as I'm a surfer and wanted to have a place that I could utilize as well. 

Does anyone have experience with Short Term Rentals in the New Smyrna Beach area? I am planning on visiting in May but would love to link up with investor friendly agents and start exploring properties down there. I'm based in Nashville and am looking for a STR beach escape or Duplex where I could utilize on occasion and rent out a majority of the time.

Any info or connections would be greatly appreciated. 

Thank you for everyone's replies and thoughts.  I've come across a number of properties that don't cashflow much or are underwater but looking at getting into the game now to put myself in a better position when rates doe come down.

Hello all,

I've been saving my commission checks from my W2 job and have been able to save up about $60k. I've been analyzing properties in Memphis around $100k with an ARV in the $135-$150k range. Initially I was looking to BRRRR some of these properties but with current rates for hard money and the refi any cashflow is gone, even with leaving more money in the deal.

Would love to get any thoughts or recommendations from the community.

I've been analyzing properties for a while and am ready to get in the game so always happy to connect with anyone in the mid-TN area.

Thanks

Thanks for the feedback on this Caleb.  I did play with the numbers on DealCheck as well and did end up leaving more equity in the deal which certainly helped on the monthly cashflow. 

Hi everyone. I am running numbers on some different BRRRR deals and continue to get negative cash flow on every one that I've done.

This property would be acquired under the 70% ARV and seems to pass the 1% rule.

I would love any feedback on how you calculate these and any suggestions on how to adjust my numbers or if I'm right on point.

Thanks

Ali

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*This link comes directly from our calculators, based on information input by the member who posted.

Thanks for the help @Scott Matthew C.

Really just surprised that so many of these properties seem to tick many of the boxes we look for and still don't make sense.  I guest that's the name of the game

I have been analyzing and making offers on properties to BRRRR but have been continually getting negative COC and been off on closing costs.

I've run numbers through the BP BRRRR calculator on multiple properties lately that have an acquisition cost less than 70% of ARV and rent is more than 1% of the ARV value but still getting negative COC on a monthly basis.

Most of the properties I am going after are under $100k with $20-$30k in rehab and I have been using 5% as my general rule of thumb when calculating but when we get under contract I've had instances where the closing costs are coming in much higher.

Hoping to get some help on a few questions:

What are the typical closing costs you expect for a Hard Money Loan on the acquisition?  

I thought they were supposed to be lower than a conventional but I'm getting quoted 6% + $1100 for additional fees

What do you typically expect for closing costs?  

I have had closing costs anywhere from 6% up to 10% of the acquisition price.

Thanks for any help.  Just trying to get my numbers more accurate so I can get my first property closed.

Thanks I appreciate the clarification.  I figured that was the case but wanted some external feedback.

I have been running a number of BRRRR deals and would love some insight. I am finding that most deals have a significant negative cashflow in year 1 and while the COC is showing 7% when I look at the deal from the main dashboard it's showing a -$224 per month cashflow.

Just would love some feedback on the report and any suggestions from the community.

View report

*This link comes directly from our calculators, based on information input by the member who posted.