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All Forum Posts by: Brenton Kasselder

Brenton Kasselder has started 5 posts and replied 30 times.

Post: Colorado- New to Investing, market outlook

Brenton KasselderPosted
  • Investor
  • Fort Collins, CO
  • Posts 30
  • Votes 5
@Chris Lopez Any say I can get that link to the webinar on trends in Denver last 40 yrs?

Post: Fort Collins BadAss Real Estate Investors

Brenton KasselderPosted
  • Investor
  • Fort Collins, CO
  • Posts 30
  • Votes 5

Hey @Holly Baum are you guys still meeting up?

Post: $35K equity

Brenton KasselderPosted
  • Investor
  • Fort Collins, CO
  • Posts 30
  • Votes 5

@Tyler Flagg yeah its called an HD Project Loan up to $40,000 loaned %7 interest and the payments don't start for 6 months. So you can finish the project, refi and not even pay a payment on the loan. Not %100 on this but I think its interest free for 6 months as well. Very easy. 

@Will R. Too flag someone in your post you need to use shift-2 and then start to type their name and their name should appear at the bottom of the reply box and click it. That will mention someone so they are informed you messaged them.

On the other note you really shouldn't consider keeping a negative cash flowing property. it doesn't just cost you a few dollars. You are just starting, therefore the time value of the lost cash flow being reinvested should be taken into consideration. At the kinds of ROI we can expect in REI, there is a lot of lost future gains. Unless you can make a VERY good case for appreciation, I wouldn't even consider holding onto it. 1031 exchange that place and stop buying negative cash flowing properties. Also you should run the property through the rental property calculator, if the property cash flows with full occupancy, (accoutning for vacancy and other expenses, that is a property worth considering) take your personal preferences into account as much or as little as you want. Nobody can tell what is more important, you'll probably have to make some compromises.

Post: $35K equity

Brenton KasselderPosted
  • Investor
  • Fort Collins, CO
  • Posts 30
  • Votes 5

@Will R. 

I purchased a distressed duplex with my VA loan and fixed it up, we then cashout refi'd all but %10 of the equity out of the property. (You usually can only cash out refi a property something more like %70, not to mention its a lot easier to cash out refi with VA loan) I can tell you from personal experience that this is a fantastic route when starting out. Not to mention when it is all said and done we still live on one side now. Saving us money each month on our primary residence.

This is what it looked like for my situation....

Purchase was 102k

Renovation: 35k with 10k from me and 25k from a Home Depot Loan

After repair Value: 225k

= Not too bad a start to your REI career!! Not to mention we were able to do some very nice upgrades to our side of the duplex. Tiled out walk in showers, huge custom walk in closet, kitchen backsplashes, and a lot more.

Post: New to REI and Forums Vernon from Omaha

Brenton KasselderPosted
  • Investor
  • Fort Collins, CO
  • Posts 30
  • Votes 5

Hey @Vernon Campbell I am starting a fix and flip business as well. We will be targeting the Omaha, Lincoln and Grand Island NE markets. 

Best Brenton K

Also @Brian Johnson put me on your list as we will be looking to acquire properties in and around Omaha in the very near future!

Post: Newbie in Omaha, Nebraska

Brenton KasselderPosted
  • Investor
  • Fort Collins, CO
  • Posts 30
  • Votes 5

@Brady Jones Welcome to BP! This site is truly eye opening, there is some seriously good information here! 

Post: Fix and Flip Experience In Omaha NE surrounding areas

Brenton KasselderPosted
  • Investor
  • Fort Collins, CO
  • Posts 30
  • Votes 5

Hey everyone I am strongly considering making Omaha NE a fix and flip target market for getting my REI company started.

Does anyone on BP have any experience flipping in Omaha?

What's the lending market like? Hard money lenders anyone would reccomend? Reliable Contractors would be a HUGE help? Etc etc.

Anyt information would be of help

Thanks

Post: Please evaluate this DFW possibility

Brenton KasselderPosted
  • Investor
  • Fort Collins, CO
  • Posts 30
  • Votes 5

@Jessica G. At first glance this deal looks extremely thin.

Even using 77.5% AND staying on the very bottom of your rehab budget (25k), which I don't love the idea of doing anyhow, since budgets have a way of creeping up. The MAO is 130k.

@77.5% and say $42,500 budget, which is certainly more realistic, you are left with a MAO of $112,500.

NOT to mention these numbers are assuming an ARV of 200k not 185k...

In conclusion the only way i would personally go after this deal is if it were structured as follows...

200k ARV @75% is $150k

-$42,500 Rehab (Split the difference)

=MAO of $107,500.

And even then I would be cautious

Be Careful not to force the numbers.

Post: I'm proud -- first rehab

Brenton KasselderPosted
  • Investor
  • Fort Collins, CO
  • Posts 30
  • Votes 5

@Jessica G. Wow those comps really are all over the board. Though from those few recent comps and current listings 179k seems like a good price point to start.

Not to mention a very nice ROI on your reno's. Good Luck I hope it sells very quickly

Post: Buy & Hold?

Brenton KasselderPosted
  • Investor
  • Fort Collins, CO
  • Posts 30
  • Votes 5
David Grantz I think you should look into a few articles about the 50% rule. It isn't a hard as fast rule but a great place I start in evaluating ALL of your expenses. $1,000 in cash flow simply isn't taking everything into consideration, more than likely. Not to mention this being your first property. Underestimating expenses can cripple your future investment options.