All Forum Posts by: Chris Luksha

I just ran a property that I would love to buy if I can find the private money or possibly the hard money at the right rate and ran it through the BRRRR calc.

All looks great except when I look at the financial projections section I see the following...

50% Rule Cash Flow Estimates Pre-Refinance 

Total Monthly Income: $2,850 
x50% for Expenses: $1,425
Monthly Payment/Interest Payment: $600
Total Monthly Cashflow using 50% Rule: $72 

50% Rule Cash Flow Estimates Post-Refinance
Total Monthly Income: $2,850
x50% for Expenses: $1,425
Monthly Payment/Interest Payment: $556
Total Monthly Cashflow using 50% Rule: $869

Am I missing something or should the total monthly cashflow Post refi be that high?  I am onlu paying out potentially $44 less, so how did it go from $72 to $869 with only $44?

What am I missing?

Thanks,

Chris

I'm on my phone app so I will keep it short... I second and third what Nathan said.

Figure out what kind of investor you want to be if you haven't already, then improve along that vein.

Your goal is a perfectly reasonable one but certainly slow when you are being tied down by conventional thinking and mortgages. So you have to make a choice, are you willing to slow cook or do you want to use a microwave. Sorry, i was a cook for many years 😉

@JT Wylde do you still have the website up anywhere?  I think that is a great idea and many (including myself) could benefit from it.

Blessings,

Chris

Maybe there's a deal to be had in syndicating the use of the spreadsheet for BP Pro members where Michael and BP split the profits ;) Or maybe there is a BP coupon code that someone has posted in the past? Just thinkin' aloud.

I just had to post an observation... 

I think Brandon is going to start cringing whenever he visits BP soon. I went to visit one of the BP advertisers specializing in turnkey realty and EVERY property they have listed for investment was either in Detroit or a suburb thereof.  

Watch out @Brandon Turner - Detroit is striking back

Thank you @Rich Baer.  Sorry I took a while to respond I have been offline for a bit. Vacation starts tomorro and no internet for about a week if all goes well :)

Hi All

By any chance is there a way to view a home's history on hubzu?

I am watching a property that just went from a min bud of $47k to $38k automatically.

I wanted to offer the trust owner $20k but it would go over better if how many times it dropped on hubzu And from where.

Thanks

Chris

Instead of writing my own post I would love to bump this one up a little because I too have been reading up on Subject to and Jason's articles seem to be the most prolific. Of course he is no longer frequenting the BP forums.  

Is there anyone else out ther who wants to start posting some experience on Subject Tos?  @Karen Rittenhouse did a few as well but she seems to be aloof lately as well. @Dave Van Horn just posted a great article at https://www.biggerpockets.com/renewsblog/2016/07/0...

Anyone else got some great 'up to date' advice?

Congratulations! I wish my first purchase was a duplex for the same reason as you - Investment. Is it possible to create an LLC or trust to put the house under that does not have your name directly associated then you can 'represent' the owner of the property as the live in property manager? Just thinking out loud :)

Good luck with the landlording!

Chris

Thank you @Ann Bellamy.  I have taken a look at his site and yours and will go listen to your early podcast on BP. I have a potential duplex in NH that I want to buy and am interested in all my funding options so I may be directly in touch soon if I find it to be a viable property ;)

Blessings,

Chris