All Forum Posts by: Carmen Pellegrino

Yes my brother said the same. Flip side is I'm trying to up the value to get my cash back out on refinance. BRRR method. I probably can't raise the rent as he's fixed income so it's just about getting the value of the home up.

I have a BRRRR property (our 1st) that is set up great. Got it for about 30K under appraisal and have been upgrading one unit. We are almost done and need to upgrade the other 2. One is no problem we will just not renew the lease for the current tenant and go in and do the work. The other unit has a long time older gentleman in it. We want to go in and upgrade the flooring and paint as and generally clean it up. What do I do with him while we upgrade? I don't want to do it with him in the unit. Not sure he would be willing to occupy the other while we do the reno. Definitely will not make him move out. Anyone have similar issue?

Thanks Brandon I will. 

Asa, My wife and I are about to try the method on property number one. Got what I think is a good deal and should be able to increase the value of the property significantly with limited funds in. Run the numbers as described in Brandon's book or on here and see. I am hoping 72000 purchase with 10000 in should yield a value in the 130000 range. I will have about 30000 up front but should be able to pull that back out plus. In the mean time the property will cash flow about $600 a month. The only stumbling block I see is rehabbing the occupied units to get the value up. have not figured that out yet.

I found a property in Fort Wayne IN that looked good to me. 2 complete homes and a large garage for under $130k. Got gobbled up the day it went on the market but has since popped back up. The initial buyers financing fell through because the property is one parcel but 2 homes. I contacted one of my lenders and he declined as well. Wondering how I can go about financing this? 

Need some advice finding a good CPA and what is reasonable fees associated with one. I am in the Fort Wayne IN area and trying to get started.