All Forum Posts by: Casey Veal

Hey I’m looking to buy my first house, the seller is asking $130,000 and I think I can get the house for $115k based off the comps in the area. I got with a mortgage broker and they told me I would have to put 15% down on that house since I wouldn’t be personally living there (I’m going to rent it out). That leaves me with an estimate of $800 mortgage per month if I put the minimum requirement ($19,500) down on a $130,000 house. It’s a long time renter living in the space now that has no intentions on leaving and she is paying $1,200 per month. Is there anyway for me not to put so much of my own money down up front. I have the money to do so I just want to get another house within 6 months of this so I’m trying to horde as much money as possible. Thanks for the help!

Hey I might be moving back to my hometown and that is where I have been wanting to invest by using the BRRRR method. I'm trying to decide if I should buy a rental home or buy my first house and try to house hack. The rental home is almost a sure thing when it comes to having tenants however i don't know how sure I'd be of having someone to househack with. Should I just move into an apartment and buy a rental house? Should I buy my first house and a rental property? Any suggestions are greatly appreciated!

@Thomas Moran

Hey Tom I am a Salesman for a brick manufacturing company. The reason that brick is cracking is because it wasn’t properly installed. “Flashing” is a piece of material that goes behind the brick when it is laid. Long story short the reasoning for it is for the water that gets through the wall rolls down the flashing and out of the tubes/holes you see at some points on the wall. Improperly installed flashing results in water build up behind the brick which erodes the mortar and makes it crumble causing the cracks. You would have to tear down the walls and reinstall everything on the walls that has the damage. Not sure what people charge for brick repairing in your area. You might have some issue on finding masons to do the work. I can ask masons that I use how much they charge and you can compare it with the pricing that you are given. If you have any questions feel free to ask.

Hey I'm new to the real estate world. When I'm going to look at a house, do I need to get the inspector to go with me? Is he the one who gives me the stuff that needs to be fixed and then I get a contractor to give me quotes on how much it costs? Do I need to get an inspector at all? Thanks for the help

Hey I'm looking at a house to purchase using the BRRRR method. I don't have a realtor set up that I have been talking to so I am wondering if asking the real estate agent that is selling the house to provide comps for that house is ok? or if I should find another real estate agent and say I want to purchase a house and get them to provide the Comps for me? thanks

Hey I'm wanting to purchase my first house using the BRRRR Method and I'm trying to see which one is better to use. There is a group of investors and I know some of them from my childhood that I am wanted to propose my deal to. I'm trying to see if this is a smart option or should I lean more towards using a bank. Also, if I was to go with the private investors what is a typical interest to propose to them? I hear the 8% a lot so I'm just trying to get some more info on the situation.

Thanks!

@Jerry Padilla Hey Jerry thanks for the info. I’m planning on using a group of private investors to loan the money, so that’s where I was confused since I won’t be initially taking out a loan from the bank.

@George Despotopoulos Hey George thanks for the info

@Mike McCarthy Thanks for the help Mike! I’ll definitely hold on to these going into my future projects.

Hey I'm wanting to buy a house and use the BRRRR method. I'm buying about 2 hours away from where I am living. My brother in law lives in the area and is a Custom Homebuilder so I will use him for help with rehab costs. I'm just trying to see what are the more important things to rehab compared to what are the least important. I know it depends on the condition certain things are in however I figured some of you have learned being in the business that there are certain things that that should be focused on to add the most value to a house.

Thanks for the Help,

Casey