All Forum Posts by: Brent Moonsammy

Hey there BiggerPocketeers, 

I just made my first deal on a piece of land and plan on building a barndominium within the next few months. I will be needing a CP loan and the main requirement is the Blue Book. My Question is, What is  the bare minimum I can show my lender to be approved for my loan. The cost of the plans are dependent on the detail of plans. Which Plans can I afford to exclude. The location of the property is unincorporated. 

Note: I am a CAD technician for a survey company and will be able to create my own Site Plan and Survey.... if that helps me at all.   

Thank you so much Marvin. You have definitely help put my worries at ease. 

hello everybody, my name is Brent Moonsammy from the DFW area. I’m just starting to build funds for my first buy and I hear wholesaling is a great way to start. 

I understand when a property goes under contract I gain equitable rights. My biggest concern is buyers wanting to view the property with the seller present. What are some strategies used to keep the buyer and seller from meeting. At the same time, I want the seller to see what they are purchasing, I want to be completely and 100% transparent without shooting myself in the foot.

Hey there Chris. I was curious about the same, I heard Mindy mention of the podcast that BP has forms drawn up for your specific state. I haven't had a minute to browse yet, but I hope this helps. BP doesn't have all states covered yet, but they covered all the big markets first. 

http://get.biggerpockets.com/forms/index/

Thank you so much for the replies. 

I appreciate every bit of knowledge you guys shared. 

My ultimate goal is to perfect the brrrr strategy using the little money I have. I'm liquid at under 10k right now. And I REALLY REALLY want to avoid using any form of OPM. My reason for joining the investor community is to become my own boss, when I'm handling someone else's finances and worrying about someone else ROI it takes the FREEDOM out.

Can anybody suggest a model or plan that would benefit me greatest?? I’m wanting to acquire about 3 rental properties each year to start and possibly grow exponentially in the future. 

hey there everyone, my name is Brent and I’ve been studying to be an investor for the past several months. I’m becoming more and more confident in the Brrrr method and am hoping to structure my portfolio around this idea but I was hoping you could fill in some gaps. 

1) does this method work with structures that require no rehab whatsoever? If I had a low rate on a 30yr fixed and planned to keep the property while producing positive income Would refinancing help or hurt me? 

2) if I buy a rehab project with a market value of $80k for $40k is it smart to tap into any amount of equity to fund the rehab cost?