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All Forum Posts by: Connor Thomas

Connor Thomas has started 3 posts and replied 19 times.

Post: How to fix this BRRRR when my ARV is less than planned

Connor Thomas
Posted
  • Posts 19
  • Votes 2

@Drew Sygit I understand it. I just don't know what else to do. I feel like everything seems to be negative cashflow in the markets I am considering especially with a BRRRR. What advice would you have to that?

Post: How to fix this BRRRR when my ARV is less than planned

Connor Thomas
Posted
  • Posts 19
  • Votes 2

@Taylor Dasch Thanks for the advice. That is really what I am leaning towards doing, I just feel like I am struggling to find cash flow in the few markets I am considering.  I would love to just break even or slightly above. What do you think or could you recommend?

Post: How to fix this BRRRR when my ARV is less than planned

Connor Thomas
Posted
  • Posts 19
  • Votes 2
Quote from @Dan H.:

 Assuming my calculation is somewhat close and it is negative >$400/month then at that price point I claim it is not worth holding on to.  

A $160k ARV is going to be real challenged to add $100 a month increase per year. $50/month increase per year is more likely. This implies likely over 8 years to have positive cash flow.

To me this property screams flip for someone getting started.  

Good luck


Post: How to fix this BRRRR when my ARV is less than planned

Connor Thomas
Posted
  • Posts 19
  • Votes 2

@Kenneth Soles: Yes I am learning that as well. I believe that the comps that we ran are accurate and the ARV would be between 160-165k so I can at least pull my money out and have no money in the deal or sell. Would it be worth holding onto if I have no money in the deal even if it cash flow negative?

Post: Needing help with this house

Connor Thomas
Posted
  • Posts 19
  • Votes 2
@Scott Allen: I am in the process of getting some closets put in currently.  I believe that I can get the ARV between 160-165k and am confident in that. The only issue is that it will be slightly cash flow negative.  If that is the case would it still be worth holding onto if I have no money into the deal? 
I have learned a lot regardless for future deals.

Post: How to fix this BRRRR when my ARV is less than planned

Connor Thomas
Posted
  • Posts 19
  • Votes 2

@Dan H .: Thanks for the advice. I am currently thinking that the ARV of 160-165 is accurate and I will be able to cash out refi and have no money into the deal but you are correct it will be a cash flow negative. Would it still be worth holding onto if I have no money into the deal? 

Post: How to fix this BRRRR when my ARV is less than planned

Connor Thomas
Posted
  • Posts 19
  • Votes 2

@Drew Sygit: Thanks for the tip. Yes they did help me but I also have someone else that recommended me. I believe my ARV of 160-165k is accurate. With that I would get all my money back from the deal then probably break even or be slightly cash flow neg. Would it be worth keeping then if I would have no money in the deal?

Post: How to fix this BRRRR when my ARV is less than planned

Connor Thomas
Posted
  • Posts 19
  • Votes 2

@Kerry Noble Jr: Yes I am learning that. Thanks for confirming

Post: Needing help with this house

Connor Thomas
Posted
  • Posts 19
  • Votes 2
I believe that the ARV I originally thought was correct of 160-165k which after a cash out refi will get me my money back and then be about break even. Is it worth keeping then?