All Forum Posts by: Ashley Nichols

@Tim Herman thank you, this was helpful. 

@Tim Herman thank you for your response! 

I just calculated 5% for cap ex because that's what I've seen most others I follow do. 

The insurance rate I found on Zillow. (I figured it was accurate because I own a SF rental about twice as big and the insurance is only $49/month). 

I wasn't sure what rate to put in for the refi so I just used 3%. How do you recommend I find a more accurate rate?

-Thanks : ) 

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Just wondering if someone has time to take a look and let me know if I made any mistakes. Looking for advice/input. 

Thanks in advance : ) 

Does anyone have a recommendation for a reliable GC in the Cedar Rapids, Iowa area. Looking to rehab a SFH and get it ready to be rented.

Thanks! 

rentometer.com

Is this loan product available in Washington and Oregon? - Thanks!

 Same here! 

Have you thought about maybe obtaining a HELOC on the paid off property? You could do many things with the HELOC or do a cash out refi.

I currently also own a SFR valued at $400k that's also paid off. I'm in the process of obtaining a HELOC and plan on using the funds to BRRRR many other properties! MY SFR cash flows so nicely, I just can't let it go.

Just a thought : ) 

@Corby Goade

Thank you! 
I agree it doesn’t get talked about! I’ve been researching, reading and listening to endless podcasts for well over a year now and now that I’ve actually began the process is the first time I’m learning about this issue.

Thanks for your input, I appreciate it! 

@Corby Goade

I have a question here...I'm in the process of getting a HELOC on my residence (it's paid off), because of my DTI I was only able to get $145k and nothing more. I wanted to do what you suggested and use the funds from the HELOC to purchase a property, rehab it, rent it, cash out refi to pay back the HELOC and hopefully repeat. I'm now worried that during the "refi" part of my BRRRR strategy I won't be able to cash out refi because of my DTI. Any advice?

Thanks : )