All Forum Posts by: Chris Mandle

I am studying and saving to make my first REI. Generally speaking how much money should I keep in reserves? Meaning after my repairs and closing costs, how much should a budget in case of emergency (ie cant rent immediately)

@Brian Allen I am going to send you a direct message.

Any success investing in the jersey shore or Monmouth area. Currently have around 50k. Looking like this will not be enough to to get a fixer upper, maybe something in foreclosure. Any success and bad stories and experiences to share in this area?

Also looking to connect!

@Brandon Sturgill so interesting. Overwhelming how many things there are out there. How does one know when to pull the trigger? I feel there is always things to learn.

@Alexander Felice thank you for your feedback. How did you find the area of country you did this in? Also how did you find the right people locally that made it all work for you?

@Kenneth Garrett thank you for your insight. Did you do it locally or somewhere else?. I am in nyc and even in the burbs I am not sure yet if the numbers make sense.

How did you connect with your partner on the first few?

@Jay Hinrichs

Thanks for feedback. I own my apartment where I live. Basic 20 down and bank loan. Paying that off. I have saved, curious what kind of investment you would recommend as a first start? Knowing I am already paying g a mortgage, I was thinking of finding a beater and fixing it up, the. Flipping or renting.

Thoughts?

@Brandon Sturgill

Thanks for your reply and sharing your article. One question, isn't the entire idea of BRRRR to pay cash, so you are not holding a mortgage or loan on the property?

Curious if anyone out there as something bad to say about BRRRR or did not have success and has some experience on some pitfalls to look out for before starting? Thanks!

Thank you @Geordy Rostad! I will look into that book suggestion. 

My current rate is 3.875%