All Forum Posts by: Andrew Terry

Thank you sir I appreciate the input. Actually taking the time to dive into, and learn real estate in a way that is scalable is like drinking from a fire hose, and theirs plenty of water!

@Chris Seveney, The appreciation has been about 2-3% on average from what I can tell. 

@Jake Baker, It's all cosmetic minus the roof and siding which I've already gotten quotes to have those replaced and factored in plus 20% for unknowns. I have no doubt I'll land under the 40K rehab price but until I'm in there and get it done I won't have my hard numbers on that. 

This will be my first for the purpose of growth. I owned a rental when I was younger but didn't have any real understanding of real estate back then. My hopes is to begin to slowly scale I'm just fighting with what that looks like. Whether that's renting it for awhile or if it would be more beneficial to sell and reinvest. You know. All the struggles of being new to the Real Estate Game. I plan to grab a mentor along the way at some point. It's just the hear and now part I'm trying to work through and make the best possible decision on.  

Trying to figure out my strategy beyond the first property. Let me here what you would do with the scenario.

Purchase Price:40K

Rehab: 40K

Total Loan From Lender after Rehab: 80K

ARV: 130K

Fair Market Rent: 1,200 Mo.

If this was your very first purchase, with a goal of wanting to scale, and build a portfolio based around LTR, and Fix and Flips. What would your strategy be, using only the finances provided above. 

Extra Points for Oklahoma Market

New to BiggerPockets and for the most part “strategic real estate”. I originally planned to focus on education this year and maybe making my first purchase later in the year but got fast tracked on a really good opportunity to kick start things for me. So here I am waiting on closing for my first flip. Looking forward to networking and making things grow