All Forum Posts by: Blake Wight

Awesome stuff guys! Thank you everyone for your time and help. 

Hey Guys!

I had a quick Inquiry about the 1% rule general rule of thumb. In terms of BRRRR it is common to purchase many distressed properties that need to be rehabbed. My question here for a preliminary quick test for cash flow is in regards to whether we base the 1% rule off of the Acquisition cost of the asset (Purchase price, closing cost, rehab, etc.) or the ARV.

Hey Nicholas,

I went to this forum because I too wanted spend some recreational time watching TV while still learning. After doing some research and googling the show that stuck out to me was a show called Flipping 101. I have yet to watch it but from what I read it is a REA show that caters to real estate investors where the main character of the show coaches novice investors through purchasing, fixing, and flipping properties.

I plan on watching it this week and will keep you posted about how I feel after watching a few episodes. 

Hey Liron, I appreciate the response. Does this still pan out even if I am applying for a 3.5% down FHA loan.

Hey Josh, firstly thank you for that information. Secondly, I am trying to find somewhere 20 minutes or less to the coast from San Clemente to Huntington beach. My intent is to house hack and at the least have a neutral cash flow from the property. Also, I need a low down payment similar to the FHA loan to be able to likely afford the property.

Hi, I am 22 and just recently graduated looking to get a house in Orange County, California. Since I was young, I have made money doing side hustles/jobs and have saved since. I now have enough for a down payment and some to spare with the help of an FHA loan. My issue though is my employment history and proof of income since I am just about to start my steady job and do not have proof of prior income/employment. My first thought was to do a lease option. I would love to hear other perspectives on my situation and would appreciate any tips, tricks, or workarounds to my dilemma.