All Forum Posts by: Brandon Roberts

@Bill Brandt 50k/12 is 4,100 per month / 5 units is 833, you cash flow $800 per unit??

@Paul Smythe is the 1% not a stupid rule? Higher interest rates and lower property values because of it will make the 1% rule easier but a similar mortgage because of high interest rates, now that we have lower interest rates you’ll see higher home values because the mortgage comes out the same making the 1% harder to find, none the less the cash flow would be the same

Is buying " A Deal " over rated? In reference to BRRRR, theoretically, all you're allowing yourself is some forced appreciation in the property by rolling the dice that there aren't additional issues with the property. The way I see it, what's the difference between renovating a property and getting 20k in equity off the buy VS. making 20k doing a contracting job? Essentially you're just landing your own contracting job. Why not buy turn key and use your efforts in your active income for down payments?

@Doug McVinua okay, interesting, you guys have both said refinance it while living in the property, for some reason I was only thinking I could use an investment loan on the residence I’m at now so that I can use an fha on the new purchase. If I just use traditional financing 20% down as an owner occupied, am I still able to use an fha loan? Also can I use the equity in the property as a down payment instead of coming out of pocket for anything?

I'm looking to turn a private residence that has significant equity into a rental property, and buy a new home, does anyone in Phoenix, Arizona know of a lender that will give an investment loan with a HELOC so I can put a down payment on a new private residence? The loan amount at the moment is approximately $125k with a value somewhere in the 300's. Thank you In advance!