All Forum Posts by: Amelia McGee

Hi BP Family,

I'm a bit excited to share. There is a home being remodeled right down the street from my house. I took it upon myself to stop and speak to the contractor. I got his name and number. He informed me the owner is doing a "BRRRR" (not in his words. I'm using BP language of course!) I told him I am a REI and looking to do the same one day. He was happy to share his info. I told him I live right down the street and I look forward to watching the rehab take shape. But really, I'm doing my homework. Going to see how long this rehab takes and I do hope I can take a tour of the finished product. If all looks good, hopefully I can cross "find contractor" off my list!

I am taking this as a sign from a higher power that I am on the right path!   Thanks for reading!  

Thanks @Lori Greene I will take all of that into consideration. Appreciate your time!

Hi @Lori Greene, i found a fixer upper near my house and analyzed it using the BRRRR calculator. But I'm not sure I put in the right numbers. Let me know if you can't see the image.

@Lori Greene. Thanks for that great advice. You answered a few of my questions already.  So my biggest fear is running those numbers.  I’ve tried analyzing about 20 properties already using the calculators.  But I question the landlord paid expenses and future assumptions.  I usually guess based on the webinars I’ve seen but I still don’t get how they come up with those numbers.   

I'm still in the learning phase.  Just purchased 3 audible books:  "Buy, Rehab, Rent, Refinance, Repeat - David Greene, "The Book On Rental Property Investing" - Brandon Turner, and "Long Distance Real Estate Investing" - David Greene.  I'm hoping once I've gone through these books, things will make more sense.  Like @Michael Ablan, I'm a lone wolf.  I don't have many friends and I definitely don't have family that could help me on this path.  I'm use to doing things on my own and not having to foster relationships with people outside of my tiny circle.  So doing what is uncomfortable is what I need to work on.  I've met a couple of real estate agents and I am also still in touch with the real estate agent who sold me my own home.  I know a couple of fix n flip guys too.  But because I work full-time, its hard finding what niche to get started in.  I really want to invest in multi-family units.  In fact, I've been chatting with a real estate agent in Chicago.  I'm in New Jersey so I'm thinking I'm a bit crazy for trying to invest in Chicago right at the beginning of this venture.  But the contact I made there seems to know his stuff and has some good connections. He sent me a presentation to read and also told me his knows a lender that specializes in multi-family units.  So what am I waiting for?  I have so many questions.  

Awesome story!  Thanks for sharing.  I’m so intrigued by Chicago and multi family units there.  I’m from New Jersey and Chicago homes look so unique to me. I plan to invest there one day.  I will let you know when I do!  Would be great to partner up.  

Thanks @Tim Herman.  I appreciate your guidance.  I’ll rerun the numbers!  

Hi all!  I have no idea what I’m doing with the rental property calculator but I decided that the only way I’m going to learn is to play around with it.  I found a duplex that interested me and so I began plugging in the numbers.  Just don’t know if I did it right.  Let me know your thoughts.  Does this look like a good investment?  Thanks! 

@Michael S. thank you!

@Danny Randazzo thank you!