All Forum Posts by: Cole U.

@Wendell De Guzman Why does cash flow suffer if the home value is above $250k?  I've been weighing the pros and cons of selling v. renting my primary residence in a year or two once we move.  Your LO post caught my eye as another potential option, but it still worth more than $250k. 

Matt, I'd love to see this place if still available.  

Hey Makenzie, I live in Indy. I'd like to see the info on this one if it's still available. [email protected]

@Zac Gilliam I have talked to handful of conventional lenders, and so far the consensus is that I'll need 20% down unless I use the property as my primary residence for a year.  I haven't really delved into HELOCs yet, which could open some doors.   What kind of programs do you mean?  Have you used a conventional lender for something like this?

@Curtis Bidwell

Yeah, I think that could help.  Thanks for the tip!

Hello BP,

I'm hoping for some friendly advice. I'm looking at a foreclosed SFR in a B to B- area that I am thinking about buying as a rental. The challenge is that it doesn't need any work (seriously, it's spotless), so going the hard money route, renovating, then refinancing with a conventional loan doesn't seem like an option. My wife and I have the cash to throw down for the 20% on a conventional loan, but we would be wiped out after going that route.

Any options that would allow us to move forward without draining our bank account would be ideal.  Help!

Hey Eric, I used to live in Wichita myself! If the expenses you noted are truly all that it takes then this seems like a good prospect...over $1400/m CF! I would dig a little deeper on what your expenses and repair costs would be. Try using the analysis tools on BP. These will be very helpful to you in thinking of expenses and crunching numbers you might be leaving out.

Thanks for reaching out @Micki M. .  I love your site, by the way.  It looks great, and does a great job of creating interest in your business.  

@Don Harris  @Rodney Kuhl  I will sign up for Cireia this week and make sure I'm at the next meeting.  I'll keep my eyes out for other meet ups too.  Hopefully I'll get to meet you gentlemen very soon!  

Thanks!

@Account Closed Hi Rusty, I'm looking for deals that I don't have to buy retail I suppose.  I've seen a few just combing through sites like Zillow, but there is a lot of junk there.  Plus, I've found a couple listings that have shown promise, but were gone before I could act.