All Forum Posts by: Account Closed

Hey Dillon! Im an investor in the area, im about 20 minutes outside of Pensacola, in Navarre. Let me know what questions you got :) 

Hey everyone, im looking for advice on locating a live in flip. I live in a fairly hot market and it seems like good deals are getting harder to come by. What are some of the best ways to locate a quality live in flip? What are some essential value adds? How do you run the numbers when you have to try and predict the market in 2+ years? Thank you guys for any help!

@Dylan H. Hey Dylan! Welcome to the area! Im a member of PIG so if you have any questions just let me know! Its an awesome group and one of the biggest in the area

@Cody Wood Hey Cody! Nice to meet you, i live in Navarre, about 20 min from Pensacola. Im newer to REI and currently have one property under my belt but looking to grow more especially through the BRRRR method! I would love to chat more, share the knowledge I have picked up so far and even explore partnerships. Its good to meet another like minded investor coming to the area! :)

Also, i saw you are from Denver, i went to school in Colorado Springs! Both are very beautiful area’s!

@Marcello Di Gerlando Glad to hear you are doing well! I went to school in Colorado Springs, beautiful area! I purchased a STR along the emerald coast for lower cost and its been cashflowing well. Its been great for cash flow and if you choose the property right, you can also create BRRRR deals with plenty of value add. I would love to pass along any other information you would like!

Thank you @Charlie Cameron for tag! :)

Hey Robert! I also have a condo in Fort Walton Beach that im renting out. Its been cash flowing well as a short term rental even with a $600 HOA. There are several properties that are also in your price range that can provide the same returns. If you have some flexibility, id recommend Navarre Beach, just about 20 miles to the west of FWB. Its one of the fastest growing areas and developers are moving like crazy. Im searching here for my BRRRR deal. Let me know if you have any questions!

If you have the money for the 20% down on a traditional investment loan, I would recommend exploring the BRRRR method! Although this doesn't alleviate the problem of a lower down payment, it does leave you the option to recuperate your down payment within 6-12 months of seasoning. BRRRR can be complex to understand at the start, but once you do some reading its easy to understand. I highly recommend picking up David Green's book about BRRRR. Let me know if you have any other questions, im always happy to chat.

@Jaysen Medhurst Yes i understand that HMLs arent no money down, but the intent would be to get that initial down payment back during the Cash-out refinance. But i didnt think about the market rents which would be a fair deterrent.

As far as FHA, that wouldnt work because it would be for a second personal property that isnt my primary residence. This wouldnt be an investment property.

Hello BP, 

I am looking for creative ways to purchase a second home for little to no money down in the same city and thought of this idea from the BRRRR Method. How feasible would this scenario be?:

I find a house from a wholesaler and fund the rehab using a hard money loan under an LLC. Once the rehab is complete, I move into the property and I act as the tenant. After 6 months of seasoning, i cash out refinance the property to recuperate my down payment and make a return on my investment. As i result, I would acquire a residence with little to no money down.

Are there any hurdles to renting the property to yourself under an LLC or would it create problems when it comes time to cash-out refinance. Would i keep the property under the name of the LLC or would i transfer the loan to my name? What are some of the things I may have overlooked in this scenario? Let me know your thoughts! Thank you! :)

@Aubrielle Coldros Hey! I know there is alot of success in the Short term rental market. It is very easy to automate the rental and leave you with very little interaction with the property if you do things right. If you at all interested, id love to break down the market further and tell you how i manage it in Fort Walton Beach!