All Forum Posts by: Blake Ramsey

So here’s an example Brrrr just to see if I understand how the numbers work.

House valued: $100k

DP: $20k

Loan: $80k

Rehab: $20k

ARV: $160

Refi: $160k * 75% = $120k

Cash out: $120k - $80k = $40k for next deal

So if I take that whole $40k for my next deal, would I then have 0% equity in the property? I read that some banks require some equity left in the property after a cash out refi, would I “buy” that equity using part of the $40k I pulled out.

Hey everyone, my name is Blake and I'm an aerospace engineering student based in Springfield, Mo. I am looking into buying an investment property in the next year or so and was wondering about DSCR loans. Are there any qualifications I'm missing, it seems as long as you can find a good deal and have a dp anyone can qualify. Is this the case?

If you have any experience with a DSCR loan I'd like to hear your experience with it!

Sounds like you’re talking about wholesaling properties. There are a lot of people who do it, some friends of mine included, but it is a big time investment to find flippable deals.

Hey everyone, my name's Blake and I'm an Aerospace Engineering student out of Springfield, Mo. I'm not an investor quite yet, but I am familiar with REI.

I know the saying “time in the market is better than timing the market,” but is that always true? I know it’s probably not ALWAYS true, so what are some signs, statistics, and metrics I should keep an eye out for that might make me want to wait a couple of months before closing on a deal?

@George Azita Wow, this spreadsheet is really in-depth. Did you make it? You have no idea how much I appreciate you putting in the time to analyze these properties! It sounds like you're pretty risk averse, but for someone wanting to get their feet wet with their first deal, would you say these numbers are workable? I know there's the saying of "focus on time in the market, not timing it", but is there a limit to what that quote extends to?

@George Azita @Joshua Janus

@Joshua Janus

https://docs.google.com/spread...

@Joshua JanusHere's a handful of the properties within about 7 miles of me that I was interested in. I recently started organizing them on this spreadsheet.@Joshua Janus@Joshua Janus

Hey everyone, my name is Blake and I'm an aerospace engineering student based out of Springfield, Mo. I am new to real estate and am looking to buy a property in about a year, maybe more. I am wanting to reach out to local lenders just to get some insight on some of their products, and I wanted to from you experienced people who have dealt with lenders: what kind of questions should I be asking them?

I am currently planning on getting an FHA loan so most of my questions relate to that, but are there other more general questions I should be asking a lender that is important for me to know before I do business with them?

Hello everyone, my name is Blake Ramsey and I am an aerospace engineering student based out of Springfield, Mo. I have been doing a lot of research over the past year preparing myself to buy my first property in the upcoming year, and I just had a question about how to analyze local markets.

I am in Springfield, Mo, and I have been analyzing properties left and right, but I have come across very few properties that can actually meet the 1% rule. I know that is not the only metric that should be taken into account when analyzing a property, but the COC returns, ROI, and Cap rates are all very underwhelming as well.

My question is, I feel like we are in a sellers market here in Springfield, but how can I actually run the numbers and calculate that we are in a buyers/sellers market. I've seen formulas like props for sale / props sold in the last month: <5 its a sellers market, >7 its a buyers market, and in between 5-7 is neutral. Is this a good indication of what kind of market we're in? Are there any resources to help figure this out?

I'd appreciate any input!