All Forum Posts by: Anthony Montances

@Alyssa Dyer

Than you Alyssa! As far as my thoughts to brrrr this property. Technically when i purchased this property in 2017 it was meant for me and my family to live in. Now that I’m leaving i know my property has appreciated in value i wanted to use the last 3 steps of brrrr strategy to maybe get something out of the property and hold it while I’m gone and reinvest that money as well as the money I’m making overseas since i wont have any expenses for the whole year. Unless this property starts falling apart. What are your thoughts? Since my cash flow is really tight. Should i just cut my loss and sell or should i refinance it? Or just wait till i return and move to Colorado?

@Luke Reninger

Thanks luke, when the cash flow is tight like this is there a way to get on the upside? Should my end game be to sell this property once i get back? Thanks again!

@Jason S.

Thank you Jason! Yes you are right, my pm is asking for half of the first months including the %10 percent a month as far as it being negotiable i didn’t know that at all and thank you! I am going try and ask my pm for a lower rate. I live over on the northwest side of town. as far as appreciation, i purchased my home for 155k and according to some sources it’s appreciated up to 168k.I’m going to do more research since this whole process is really new to me. But what it looks like as far as now to play it safe is wait and keep this home for the time

I am gone and educate myself on the things i need to look at to factor my investments. Like i said this is all new, but i am willing to put in the work to make it work for myself and my family! You have to start somewhere right? I’m happy and fortunate enough to have a home at 29. And i know the process won’t be easy and I’m glad everyone is helping me out to realize the steps that i need to take to make

It work. Thank you all!

@Brian Garlington

Thanks Brian for responding! Unfortunately i leave the 4th of August and i need to be in country by the 10th. So I'm not sure if there is enough time to set a deal like that minus trying to find a good property. I talked to another investor here who had told me you don't lose your homestead as long as i have dependents in state. I have been trying to find a loop hole with the VA loan as far as not paying the %10-20 down but if i go that way wouldn't that hurt my cash flow on the back end because I'm financing more?

@Jack Orthman

Thanks jack for responding to my post.

Fortunately while I’m in the Middle East for duty i won’t be paying a mortgage praying my property manager finds a tenant. But I’m prepared to make a payment or two if i need to cover the expense. Again praying i get a good tenant then i won’t need to. I won’t have any bills while I’m gone so saving every penny i have is my priority while I’m there. To hopefully put it into another property. But I’m just going out there to make sure i don’t get into something i can’t handle and wanted some good advice. As far as the cash flow changing my insurance from a home owners to renters insurance according to my property manager it will save me a good penny. Also your absolutely right about the repairs the house itself is 12 years old and right now I’m having people inspect the property for future issues i might have. But thanks again! For the help!

Hello all!

I’m brand new into investing and i am trying to get started but don’t know what direction i should take from here. First off i am in the military and come August I’ll be going overseas for a year. At this point i purchased a home back in 2017 little bit about the house it’s a 3/2 1200sf single family home in San Antonio Texas purchased at 155k with a mortgage of 1125 a month and thats not factoring what the new rental insurance will be. I’m guessing a lot lower then with a traditional insurance policy. Now my property manager says i can rent it out for 1395 a month and i pay them %10 percent for rental property dues. At this point, now that I’m leaving for a year and moving I’m trying to figure out if i can brrrr this property and try to get another property before i leave? In 2020 i won’t be in Texas anymore but i would like to buy more properties here because it seems like it’s a buyers market. In 2020 I’ll be moving to Denver with my family. At this point I’m stuck on what i should do or what direction i should take, i just want to make sure i don’t make any mistakes before i take a chance with the brrr strategy. If someone can point in the right direction that we be great thanks guys!