All Forum Posts by: Brian Puebla

@Brandon Nicholls

Hmmm interesting input! Thank you for the advice and your time. I was thinking similarly actually, but not for the house hacking (yet) because I currently live at home, rent free, so the extra expense doesn’t seem to be worth saving in interest costs AND the duplex is 4 hours away from me so I’d need to find a new job and all haha

Hey guys, I’ve been doing tons of research the last few months and eager to get into this real estate hustle/life style.

Now I’ve finally found a property I believe to be THE ONE, my potential first investment.

Duplex with little to no repairs needed, price = 110k and each unit is being rented for 740/mo. Now here is my question, the bank I’m seeking a loan from requires a 25% down payment and the issue is... that’s almost all of my savings! If I put a 25% down payment, after closing costs and all, I’ll have about 3,000 left to my name. The perks of this would be low interest rate and higher cash flow but at the cost of wiping out my savings. Do you all think I should pursue the property in this manner or through a private money lender at the cost of a much much higher interest rate and less cash flow.

Extra backstory: I am currently a young buck living at home with no rent and pretty much no bills to pay besides the living essentials, so being left with 3k to my name isn’t much of a concern. My only concern is that such a situation may severely limit my investing future in the short term.

Any help/advice/insight is greatly appreciated, thank you!

@Clark Kirkpatrick hello Clark! Thank you very much for your reply! House hacking would be awesome but for my situation, not ideal. 1. It’s in a different city (about 4 hours away from me) so I would need a new job and 2. I currently live at home with my folks rent/bill free! Haha

so house hacking would add more expenses at the cost of a smaller down payment :/

Hey guys, I’ve been  doing tons of research the last few months and eager to get into this real estate hustle/life style.

Now I’ve finally found a property I believe to be THE ONE, my potential first investment.

Duplex with little no repairs needed, price = 110k and each unit is being rented for 740/mo. Now here is my question, the bank I’m seeking a loan from requires a 25% down payment and the issue is... that’s almost all of my savings! If I put a 25% down payment, after closing costs and all, I’ll have about 3,000 left to my name. The perks of this would be low interest rate and higher cash flow but at the cost of wiping out my savings. Do you all think I should pursue the property in this manner or through a private money lender at the cost of a much much higher interest rate.

Extra backstory: I am currently a young buck living at home with no rent and pretty much no bills to pay besides the living essentials, so being left with 3k to my name isn’t much of a concern. My only concern is that such a situation may severely limit my investing future in the short term.

Any help/advice/insight is greatly appreciated, thank you!

@Jeff Copeland thank you for your insight sir! I appreciate your time :D

Hello everyone!

So I saw a multi family home for sale for 850,00k. It was partially rehabbed but needs more work. I was going to guess it may need 100k of rehab more (house actually looked like it was in decent livable condition but not sure if this is reasonable estimate still). The property is 6 units and average rent per unit is around 1150.

My question is... hypothetically speaking, if I were to pursue such, does this seem like a reasonless investment as it doesn’t follow the 1% rule but the rental income is quite great still and in a metropolitan area? AND what is the best way to go about purchasing a multi family such as this if you do not have the funds for such (I would only be able to put about 3% down! Although I’d be willing to move in AKA house hack if this helps the process).

Thank you all! Looking forward to some insight and wisdom!

Hello! I'm hoping someone here can help me out some BRRRR basics!

So I have ZERO investing experience and I've been in the reading/learning/listening phase for the last couple and I'm ready to get started immediately, particularly with BRRRR investing.

I read David Greene's BRRRR book which helped an incredible amount on the basics and a general understanding but I still have so many questions, however I'd like to get started with step 1 then move along as I progress through my first deal so I'm not forever in the analysis paralysis phase haha

I feel I have a general understanding of how to find deals and even analyze to a degree (And IM ALWAYS OPEN TO AS MUCH INFO AS I CAN GET) but my main question is once I find a deal that I deem to be good, how do I go about the next step (making an offer?). Is there a specific type

Of contract I should use? Where do I acquire such and must I use an agent with this contract? What contingencies do all you experienced investors recommend? How to minimize risks when writing a contract and submitting an offer? How to even submit an offer!?

From my research and the BRRRR book I got a good understanding on how to find deals, how to go about the rehab process, renting and refinancing but it's very hard to find info on all the gaps and legalities that aren't normally mentioned! I'd greatly appreciate some advice, thank you!