All Forum Posts by: Brandon Rush

Thanks Michael. I heard some great things about you from an investor I was recently on a call with. Would love the opportunity to work with you in the near future. 

To be honest, I would probably say the ARV is pretty much what I bought it at, $286,000.

Thanks Filipe, it took a lot of mental power to finally pick this one up. Those damn BP podcast can make you set some super high (often too high to start) goals. I still have those super high goals but also have to remind myself no one picks up 1000 properties in a day. One step at a time. Thanks for your support. 

The 1% rule is a good start but obviously would not be the ultimate factor. I would suggest running the BP calculator on the properties you are looking at. It is very easy to use and no need to go out finding all these custom calculators when you have one right here. If your estimates on taxes, insurance and etc are close to accurate, the calculator will give you a good idea of what your cash on cash return and monthly cashflow will look like. 

After doing it a few times, especially for the same market, it will only take you a few minutes to run a property through the calculator. Give it a try.

Hey Cheree, a house hack is simply living in a home that is currently or will eventually bring income. Some examples may be:

Living in a 2-3 family while renting out the other units
Living in a single family and renting out bedrooms
Living in a home that you are planning to fix and rent/sell at a later point.

These are only a few examples but there are numerous ways of house hacking. It is definitely a great way to enter real estate investing. Good luck!

My recommendation, get Audible and Spotify. Whenever you are driving, listen to one of these books in audio format via Audible or listen to the podcast via Spotify. Make it a mobile University rather than just driving and wasting potentially useful time. Fells like I went to college in my car for real estate after this last year! Good luck.

Maybe check out Danbury, CT. Prices for a duplex will be in the $330-$360k range and its a little over an hour out. Great location and a growing city which will see some appreciation in years to come. There is also a Metro North station in town you can take into the city.

Thanks Lydina, good luck on finding your first property. One big tip that was given to me which helped a lot was to focus in on a specific market, city/town, and almost down to the street! I was looking all over the place which made it very overwhelming. Once you begin to focus it makes the decision much easier. 

@Jake Didion , congrats. Very motivating when others share their successes here on BP. Good luck on your journey!

I definitely agree with @Dave Foster regarding the return on equity, that's a pretty poor return. You are holding on to lots of money for a very small return. I would suggest selling the property and scaling up to something a bit larger, maybe a small apartment building. With $300k in equity you are potentially looking at a down payment on a $900k+ property. You also have other options such as some private money lending or cash purchases of some auctioned multi-families. 

Basically with $300k, you have lots of options and holding on to that single condo is probably not the best one. 

Good luck!