All Forum Posts by: Brett Chaponot

what are your loan terms?

I wish I had one to recommend. I'd also try searching the old posts for someone and looking at their blog history. It's great you're considering this. My CPA helps me do some forward thinking in the off-tax season to maximize my write-offs and liabilities for the year.

@Matt Pendleton, have you shared the wonderful story of your first flip? They're always great reads for the group. Were you still able to make money on that first deal? 

@Annelyse Finley What did you decide? I'm sitting here in Sacramento steering investors away from negative cashflow investments of -$100 not -$1,000 monthly! But for appreciation like @Diane G. got, can you afford to hold out? 

I need to know the end of this story.

@Peter Li Now the follow up question is, what price would you offer to get the cashflow you desired to make this purchase worth your time and effort? 

@Jo-Ann Lapin just to clarify are you talking about the luxury market home price adjustments down? 

Pretty good analysis. Have you gotten your investor rate pre-approved? I'd guess you'd be more around 4.5% Unless you're house hacking and living in the other unit. The home has been owned for a while so your property tax will jump with the new purchase price. Probably up $1,000. I would pad more in your budget for repair costs for a home built in 1926. Even if you don'st spend it, you'll probably need $15-20K in reserves for one major issue or a roof replacement depending on it's age. Add 1 point to be charged next to your interest rate. 

How do your numbers and cashflow look after the update?

Great to hear a resolution @Edward Mills. I like hearing the conclusion to these BP threads. Let me know if you'd like to reinvest any of the proceeds into a local property. You have a lot of great areas surrounding you. Invest in where you know and now you don't have multiple family members to make decisions with! Maybe...

@Edward Mills So whats the plan? 

Welcome! Have you calendared the dates and times for the next investment meetups?