All Forum Posts by: Cameron Lim

@Kincaid Ryken definitely read “Rich dad poor dad”, and “before you quit your job”

@Diana Martinez look at your ROI to see if it makes sense. if you are getting positive cash flow and a good ROI, it's definitely worth considering.

@Vaibhav Puranik thank you.

@Vaibhav Puranik

Thanks Vaibhav. I take it you’ve experienced this yourself?

What is a portfolio lender?

Do you invest locally in your city or do you invest in different states?

I’m pretty new to this but definitely want to invest!

Hi guys, Just watched Brandon’s podcast on how to buy multiplexes.

Question is, how do you continue to refinance with banks and are able to continue to buy homes?

Say I buy 1 duplex today and have it rented. I take up a mortgage for it

Next year I buy 2 duplexes. I take up a mortgage for it.

Won’t I get to a point where banks won’t lend me any more money?

How did Brandon/y’all overcome this hurdle?

Even with the BRRR strategy, there's a refinance component to it.

Thanks

@Ryan Hill I would like to put as little down as possible but not sure if bank would loan me the money.

My goal is to purchase 1-2 homes per year.

Rent would approx $1300- 1600.

So how do I

1) know how much a property is worth and how much of it’s value I can increase before I buy it?

@Ryan Hill I would like to put as little down as possible but not sure if bank would loan me the money.

My goal is to purchase 1-2 homes per year.

Rent would approx $1300- 1600.

So how do I

1) know how much a property is worth and how much of it’s value I can increase before I buy it?

Hey guys, fairly new to the game and to BP, looking for advice and wanting to learn more on how to be a smart investor.

BRRRR- buy, rehab,rent, refinance, repeat....

Scenario:

Buy

How do I estimate what a property is worth before deciding to buy ?

rehab

How do I estimate how much money I need to put into the home to bring its value up? Do I go walk the property with a handyman/renovator/Ac guy before I even consider buying the property?

Rent

In my limited experience, the days to rent in my area is roughly 2 month. Do I try to rent it sooner with help from a realtor? Which means I aha r to pay her 1x rent?

Refinance

If I understand the BRRRR strategy correctly, we are looking to buy a property cash (without taking up a loan?) for example: if a home has a selling price of 100k but I estimate after putting in 30k I can increase its value to 180k. If I paid 130k in cash for it, and the bank appraised the home at 180k and allowed me to take out 80%, then I get 144k out of the home?

Or can I put down 20% of 100k (20k as a down payment) pump in 30k of improvements, and the bank still values the home at 180k and still let me pull out 144k? Not sure if this makes sense for the bank.

Help is appreciated.

Thank you

Hi Blake, you are right, I simplified the example for the purpose of keeping it simple. I am aware of PITI and everything else.

So it sounds like I have to either wait a long time to build up 20% for another down payment or have some other means of income to pay down the 20%. 

How can one afford 20% down on 4 or 8 properties trying to execute a stack year by year? 

Can I not leverage the equity coupled with the positive cash flow to get another loan?

I know one house sound small, what if I had 3 or 5 ? That still takes years to save up to 20%

:( 

Hello BP,

I am new to the site, fairly new to the real estate market and I am looking for help to get this going.

I watched a video on BP on stacking.

The concept seems simple however the devils in the details.

So I’ll ask away.

If I have $50k to start.

I use that for a 20% down payment for my first house that is worth $250k . The home Loan is $1000 and rent is $1500.

That's $500 cash flow, 66% DTI and the home has 20% equity (50k).

With that, how do I buy 2 houses the next year and 3 the next, so on and so forth?

Will a bank Loan money to me if the saw my first home has positive cash flow?

How do I take it to the next level ? Or will I need to save another $50k for another 20% down payment?

Really appreciate some clarification

Thanks