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All Forum Posts by: Austin Brewer

Austin Brewer has started 3 posts and replied 9 times.

Post: Anyone doing BRRRLO?

Austin Brewer
Pro Member
Posted
  • Realtor
  • Posts 9
  • Votes 3

I believe that this is a great strategy for getting started. One aspect that is overlooked is that what would have been short term capital gains as a flip is now long term capital gains which is taxed much more favorably. Although I haven't conducted this strategy I am BRRRR selling to releverage/accellerate- the last BRRRR refinance only let me take out 65% of the LTV. I am setting up to sell 4 properties I own with an average profit of 100K. Essentially its a long term flip taking advantage multiple strategies for more money in your pocket and increase your "bankable income". Has anyone found any other strategies that can be added or any other hybrid ideas?

Eric how did it turn out for you? Did you start the BRRRLO strategy?

Post: Show Low, Arizona meet up

Austin Brewer
Pro Member
Posted
  • Realtor
  • Posts 9
  • Votes 3

We will be hosting our first meetup group meeting for the Show Low Arizona meeting.  Get to know local investors in our area and learn new strategies that have worked and some that havent. It's open to all real estate investors and professionals of all levels of experience. Join us for some great networking and conversation. If you ever have topics you want to discuss reach out to me at any time!

Cant wait to see you all there!

Agenda:

Introductions, Networking, past-present-future, Strategic tactics, Tax Liens, Foreclosures, BRRRR, Flipping vs Renting, Hard Money, alternative refinancing, Helpfull Books.

Post: QOTW: Are you buying properties in our current market and why

Austin Brewer
Pro Member
Posted
  • Realtor
  • Posts 9
  • Votes 3

I am currently about to refinance for my latest brrrr. Even though I still believe that the rental market will continue to increase substantially I am eyeing the commercial market specifically a business plaza priced at 1.25 million in my area. If the comming recession isnt too back it may be an oportune time to pick up commercial properties that have their prices super low. My market has some commercial properties, mostly filled, priced at 1/6th of the cost to build. 

Post: Tucson, Arizona Newbie-ish

Austin Brewer
Pro Member
Posted
  • Realtor
  • Posts 9
  • Votes 3

@Jennifer Katherine De Loughy

Welcome to Arizona!

Post: Tax Lien Foreclosure

Austin Brewer
Pro Member
Posted
  • Realtor
  • Posts 9
  • Votes 3

Investment Info:

Other other investment.

Purchase price: $2,000
Cash invested: $2,000
Sale price: $4,500

This was two of four lots I acquired all together on the same street through a tax lien foreclosure. I still have the other two. This was my first tax lien foreclosure deal and learned a ton!

What made you interested in investing in this type of deal?

It appeared to be a great deal. There were four lots all together that were owned by the same people. The attorney I hired told me that if the properties were owned by the same person that he would charge me as if it was only one property.

How did you find this deal and how did you negotiate it?

I found it on the county's tax lien list.

How did you finance this deal?

savings

What was the outcome?

This was my first deal and it was a little bit of a flop. I sold it for $4,450 on an owner carry note.

Lessons learned? Challenges?

When I sold these the Title company made more money than I did. This made me reconsider the thought of selling the property as land. I am now pivoting my strategy to develop my lands before I sell them.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I sold it through a coworker Realtor.

Post: Tax Lien Foreclosure

Austin Brewer
Pro Member
Posted
  • Realtor
  • Posts 9
  • Votes 3

Investment Info:

Other other investment.

Purchase price: $4,361
Cash invested: $4,361
Sale price: $10,000

Commercial property I acquired through a tax lien foreclosure. This was a learning process and one of my first tax lien foreclosures. Most of my cost was the attorney I hired to execute the foreclosure.

What made you interested in investing in this type of deal?

Curiosity on how the tax lien foreclosure system worked in Arizona. I felt that it was a win win transaction, if I didn't get the property than I would get all my money back with interest from the liens, and the attorney would then be paid by the owner, so I wouldn't lose anything.

How did you find this deal and how did you negotiate it?

I bid on the back taxes through the county and found it on the back tax list. When I researched I found that the business owner had lost other properties so I felt that my chances of acquisition were pretty good.

How did you finance this deal?

I paid with savings.

How did you add value to the deal?

I acquired my Real Estate License to list the property myself because in my area the commission on land is 10%.

What was the outcome?

I made a little bit of money on the deal and learned a ton!

Lessons learned? Challenges?

I learned how the process worked and a little more depth for the city's zoning types.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes, I listed the property and asked a coworker to take the other side of the deal (because I owed him one).

Post: Where are my Arizona mobile home investors at?

Austin Brewer
Pro Member
Posted
  • Realtor
  • Posts 9
  • Votes 3

@Alan Robert Litz one lender who will do an investment property mortgage on manufactured homes is 21st Mortgage. I haven't used them yet though. Good luck!

Post: Let's discuss the Heroes Act - Are you worried?

Austin Brewer
Pro Member
Posted
  • Realtor
  • Posts 9
  • Votes 3

@Anthony R. One thing on there that does scare me is the unemployment extension. It may have been good for a short term but by extending it to January I believe may encourage people to keep getting the benefits instead of going back to work.

Post: Serial vacation rental strategy. How does this sound?

Austin Brewer
Pro Member
Posted
  • Realtor
  • Posts 9
  • Votes 3

@Craig Lillard, I like your idea and I agree with most of the comments. I also believe that you may run into financing issues as you move around.

Another thought, I have a friend who has a couple of vacation rentals in my area and he mentioned to me that having a couple in the same neighborhood helps the efficiency of the manager/cleaners.