All Forum Posts by: Almin Skender

My father I bought and rehabbed a home and after all the expenses we net a little over 35K. We want to start investing in rental properties and move away from flipping. What should our approach be and we're planning on buying 2 houses and I would work on one and he would work on the other. Should we try to put a down payment of 20% on both homes and start working on them and after we were finished and found renters, how should we refinance to keep doing this? We already have one property we payed cash for that is leased and it generates 850 dollars each month. We've had this house for 3 years now and never had a problem finding a renter. I just don't know what I would need to do after we fix both house and how to refinance it so we can keep going growing. I know what about the BRRR strategy but what would be the best and what lenders should I go to or who to talk to about financing. Still new to real estate investing and eager to learn more so I'm open to any suggestions.

Thanks BP!!

Thanks guys for all the help! I'm glad I joined BP and will try the BRRR method!!

Thank you Patrick! I'll do some research on equity loans and probably do your strategy. I was also told to start a LLC to help with tax right offs as well so I was going to look into that as well.

Hello BP, my father and I bought a property for 28,000 about 3 months ago. A family friend loaned us 33,000 to buy the house and a little extra for repairs. We put an additional 5,000 dollars of our own money into repairs. The house right now is worth about 94,000 and we should be done with everything in a week. 

The family friend agreed to lend us the money if we bought the house and flipped it real quick and sold it to pay him back. What I wanted to do was a buy and hold strategy but we can't really do that because he wants his money back. I know this house a lot of equity and would like to avoid paying tax's and let the price keep going up.

My question is should I try to get a loan for this house and pay the family friend back with that money so I can do the buy and hold strategy or should I just sell it pay him back and with the money made on the property after paying him back buy 2 or 3 house with a 25% down payment with a lender. Also my father and I did all the work on the property no contractor. 

Please let me know open to suggestions. I'm 21 years old and still learning everyday and trying to become a real estate investor. 

Thank You!