All Forum Posts by: Blake Mackenzie Hochadel

Thanks for your insights Brandon. Learning as I go on this subject! I now see I'm better off starting the BRRRR method through private money on my next deal. I got my convention loan because it is a live-in-flip.

I would have to disagree though on this being a complete busted deal considering I could gross 400-500 monthly if I rent it out down the road.  Also selling is an option as the two neighboring comps sold for 165k & 175k.    

24 yr old Cleveland based Agent/soon to be investor, bought my first rental in October.  I wanted to get some feedback from you guys to see if I'm on the right path to Brrrr, as I sometimes second guess my first deal...   Here are the numbers!

117,000 Purchase Price. (conventional loan)

133,000 Appraised value (before renovations) 

17,550 Downpayment (15%)

20,000 in rehab (still rehabbing) 

I bought in a very established/trendy part of Cleveland (Ohio City).  I could easily rent out my place between 1300-1500 making 300-600 passive per month.  Big investing goals ahead, looking forward to the feedback!

Whats up Bigger Pockets? My name is Blake, Located in Cleveland, OH.  Being a year removed from college I have decided I want to start real estate investing.  

Living in a good market for investing and being around friends/family who are successfully making money off real estate investing I've finally decided this is what I want to pursue.   

I have a decently strong network with the local investing community (friends/family) but personally do not have the initial capital.  

I am looking for insights on what some of my best options would be to hit the ground running and start making this a reality within the next year.  

Looking forward to your responses!