All Forum Posts by: Christopher Reardon

Okay thank you @Dan Weber

Quick question with cash out refinance. So let’s say you purchase a property for 70k put 20k into rehabbing it. It appraises at 140k. When you refinance are you cashing out at 70-75%of the new value of 140k? Or only the difference between the purchase price and the new appraised value?

thank you @Michael S.

How do I play audiobooks on my account? I try and download the zip and then nothing happens. I recently went pro and was going to start one of them. Thanks.

Looking at a house now, the house is 1138 sq ft with no basement at 75k and the comps in the area are around 117-130k but they all have basements and around 1400-1600 sq ft. When getting an appraisal how would that factor into the arv after rehabbing it. The house I’m looking at, the main floor would be bigger than the other houses but does not having a basement play a big factor ? Appreciate your feedback

@Rodney Burayidi  Congrats on your first property!! I’m still educating myself with webinars, podcasts etc and I’m also looking in the Indianapolis area. If you don’t mind me asking, but how much did you budget for the rehab? Appreciate your feedback and congrats again.

@Aaron Belt Thank you

@Lee Ripma thank you for your feedback, looking at the house flipping spreadsheet now. 

@Lee Ripma thank you for your feedback, what’s your best advice for a newbie trying to work the numbers on their first investment property? Since I can’t actually go see the house myself and even if I did I wouldn’t have a great idea either. I have about 20-30k in cash reserves set aside for a rehab. 

@Kerry Noble Jr thank you! 

Hey everyone just wanted to write my first post on BiggerPockets. My name is Chris from Long Island, NY. Discovered BP a few months ago and have consumed all of their content. Listening to multiple podcasts/webinars a week and analyzing at least one deal a day. Im looking to invest in the Indianapolis area right now, more specifically Franklin, Beech Grove area. I guess one question I have is when analyzing properties using the bp rental property calculator. By just looking at the pictures of a property on Zillow or realtor.com, what's the best way to run your numbers with the rehab estimate? Because some properties I've been running seem pretty good when using a budget of 20-25k, but what good is it if the numbers are just completely off. I intend to read Jay Scotts book on estimating rehab costs. Thank you for listening to me ramble on and appreciate everyones feedback!!