All Forum Posts by: Cassidy Burns

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $8,000
Cash invested: $1

Purchased for $8000 cash, renovated for $3,500, $1,500 closing costs. All in $13,000 appraised for $33,500 2 months later. Did a HELOC for $25,000 and used to purchase a Quadplex for $165,000. House has had trouble renting out since it is so small but when it is rented out it rents for $425/month. Not a good house, will be doing a 1031 exchange in 2020 on this property.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $35,000
Cash invested: $20,000

Originally Started as a flip, didn't get the number I wanted. Luckily, appraised for the value, did a cash out refi and continued with the BRRR strategy $0 currently invested in deal. Now is rented for $650/month, loan of $52,000. Very low maintenance .

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $510,000
Cash invested: $18,000

House Hack (current primary residence). 3 bed/ 3 bath condo. Rent out 2 of the bedrooms for $1,250 & $1,350/month each.

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $30,000
Cash invested: $125,000

Duplex. $510/month each unit. $1,050/month total. Cash out refinance complete following renovation, pulled out all initial investment + renovation. Loan of $45,000 currently on property.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $30,300
Cash invested: $8,000

SFH- Rented for $625/month. Loan of $22,500 on property. Decent investment, will be looking to do 1031 exchange on this property in 2020.

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $30,000
Cash invested: $125,000

Duplex. $510/month each unit. $1,050/month total. Cash out refinance complete following renovation, pulled out all initial investment + renovation. Loan of $45,000 currently on property.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $510,000
Cash invested: $18,000

House Hack (current primary residence). 3 bed/ 3 bath condo. Rent out 2 of the bedrooms for $1,250 & $1,350/month each.

My thoughts are the same as Russel's, the DMV is a place for long term wealth and security.  You're children/grandchildren will be forever grateful for you purchasing in great areas in the DMV that will always drive traffic/rent.  

Cash flow, no, not impossible, but very difficult.  But in terms of long term holds, especially with the addition of HQ2, it will be great.  

Hi @Noah Fele, welcome to BP!

I must ask, why did you decide on the 150k price point?  Is this because you have the 25% saved up for that price point?  Or do you intend on buying in cash for $150k?  Everyones strategy is a little different so its always nice to have some of those details before advising. 

Good luck!

@Lincoln Tudor this seems more along the lines of working with a title company first to get the documentation correct and then you can worry about the financing!  Good luck!