All Forum Posts by: Anthony Geren

Hard money and private are good, but you could also check banks for construction loans

Deal sounds good, i would rather prefer the nicer neighborhood and schools over the bad. To me I believe i would get a better investment in the nicer neighborhood. I would most likely get a better Tenant who will treat my property right, as well as stay longer because of the area and schools compared to the bad area. Of course this isnt always true but to me im more comfortable taking the loss on cashflow for the better neighborhood

What up @Garvin Yu, 

I'm on an identical path as yourself. Looking to retire in the next 10-15 years with a rental portfolio producing passive income. Plan to build up my Portfolio with the BRRRR Method as well.

When you purchase a house with a HELOC make sure you also add the minimum payment for the loan to your expenses (lot of people forget to add this and wonder where there cashflow is) but when you Buy, Rehab, Rent, then get to the Refinance part the bank will normally give you 65 to 75 percent of the ARV, and the appraiser will base it on the current comps in your market.

Check out this article from @Andrew Syrios    

https://www.biggerpockets.com/renewsblog/brrrr-buy...

Welcome to BP. Make sure to do your due diligence and get educated before you buy. Plenty of material to read up on in BP, get some real estate books, get active on the forum, listen to podcast when your driving to and from work, and then when your ready you'll be rockin and rolling in no time

lemme know if i can help you some more 

Cheers, 

Anthony

Look over your state tenant/landlord laws, go over a lease agreements with REA and Real Estate Lawyer, pay up front will save you money and headaches in the long run

In my opinion @Brandon Avedikian I would rent in this situation. When I go to flip a house, I always have a couple exit strategies. If I know im gonna take a loss I would rather rent it and take the cashflow, also hopefully you added some equity into the property, cause then you could leverage the house to purchase more investment properties

hope i could help, message me if i can help some more

Cheers,

Anthony

This is a tough one.... Personally i dont like the unknowns about the electrical and plumbing (huge costs if they need work). Also the Experienced flipper from your REIA not being interested is a sign that i would definitely not do the deal myself. Possibly try to find a wholesaler and see if you can get a deal with them,

I wouldn't buy a house without a garage, this as a homebuyer and investor

Welcome back @Tony Williams, personally i'm not a fan of condos, mainly cause of the HOA and they're fees.

As far as analyzing the deal I would use the calculators on BP and play around with your down payment and numbers, this will give you an idea. 

If you do a 203k loan it would be part of the loan, if you pay out of pocket it wouldnt be part of your loan, but i would include it into your analyzing of the deal.

Hope I was able to help, PM me if you need anymore help

Cheers,

Anthony

This is tough, you think you have a qualified tenant but something like this comes up. @Colleen F. said it best, this is something you dont wanna bend on, your gonna have to pass on this one, way to risky to me