All Forum Posts by: Alpha Journal

I was in your position 2 yrs ago when I first started. I currently have a few properties and I'm also in the Danbury area. Feel free to ask me any questions and I can even meet up with you if you like.

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In one of Mindy Jensen's podcast she mentioned checking rent is free if you download the rentometer app. I've been searching for rentometer on the app store but not finding them. Do they even have an app?

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Hey Brandon, I'm in the Danbury as well and just starting out. Maybe we can learn from each other. Shoot me a DM if interested.

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I'm taking that this event is not happening tomorrow. Perhaps, we should do a zoom/virtual meet up. Thoughts?

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This meeting still happening? I'm looking forward to networking.

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Do these meetups still happen?

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@Meryl McElwain Thank you for taking the time to reply to our questions. My situation:

We're in the process of purchasing a multifamily and plan on adding a half bath to one of the unit. There's a closet/vestibule behind the laundry room where we're thinking about adding the half bath. What are some suggestions do you have, as far as hiring a GC, what should we expect (time, cost, etc) or look out for as this will be our first property? We're planning on having multi GC during our final walk through for a bid. Thanks again and I appreciate all your feedback.

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Awesome story. I'm so motivated to start my real estate journey now!

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Originally posted by @Michael Doherty:

@Brandon Johnson The more beer money the better! Definitely learned a lot and can hopefully pull a bit more out on the next one. Thank you for the kind words!

@Amanda Culleton good luck! Reach out anytime with questions.

@Alpha Journal REALLY great question. My first investment as a duplex in which I house hacked as well. I only had enough money to do the FHA 3.5% down so the decision was easy. In your case, there's a lot to debate.

You could look at is like: If you put 3.5-5% down you will have a lot more money in the bank can perhaps have the capital to do MULTIPLE deals. Or you could put the 20% down avoid PMI- have a better cash flowing asset- but there's the opportunity cost of not having that additional cash on hand....

Personally.... I would split the difference. I would put down 5-10% on a conventional loan.... I believe there's products out there where you can still have a low down loan (5-10% and STILL avoid PMI insurance). I would have the conversation with different lenders to see what's out there like this. In this option you get the benefit of having a low down loan with additional cash in the bank for other opportunities/ reserves and you still avoid PMI Insurance.

If you end up choosing the low down payment- try and get as many units as you can. That is one regret I have, settling for a duplex when I could have gotten a 4-plex for the same low down payment. Albeit, it will cost you more moeny to aquire but still the same 3.5-5% down.

My PMI payment is $125 a month on a 180k note for reference.

Thanks for you response @micheal. This is the first time I'm hearing about the products out there where you can still have a low down loan (5-10% and STILL avoid PMI insurance). Just learned something new. I would love to link up with you since you live in CT. Any recommendations regarding realtors in CT area you've worked with whose familiar with the BRRRR strategy?

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looks like I'm a little late to this party. Like Franklyn, I'm looking for something similar (5bd, 3bath) in the bethel and danbury area to house hack sometimes next year (2020). If anyone knows anything, let me know.

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All Forum Posts by: Alpha Journal

Alpha Journal has started 1 posts and replied 12 times.

Post: Trying to find first rental

Post: Not finding Rentometer App

Post: Is coaching necessary?

Post: Local REI meetup at the Housatonic River Brewery

Post: Local REI meetup at the Housatonic River Brewery

Post: Anyone interested in a Danbury, CT meetup?

Post: Ask me anything about...Construction.

Post: From teacher to 10 units in 10 months!

Post: 1st BRRRR Success(ish)

Post: Connecticut House hacking