All Forum Posts by: Craig Price

I have been on Bigger Pockets for a few months now and have really enjoyed all the information that is available. Have listened to all of the podcast and most of them twice. Have read a majority of the articles and many of the forum post. I find myself always checking this forum, Success Stories, first. Hopefully the success I had on my first flip will encourage someone else to pull the trigger and do their first flip. The hardest part for me in this entire process was actually pulling the trigger and buying the house. I live in a small town in Oklahoma with a population of 3,000 people and work a full time job 60-70 hrs a week. If I can do this anyone can.

Purchase Price: $34,000

Rehab, Closing Cost, Quit Cost, & all other Cost: $12,000

All in for: $46,000

Sale Price: $68,000

Profit: $22,000

Hoping to buy my next flip within the next two months!

Can someone define what Cashout refinance is and give an example? I'm sorry if this is basic knowledge but I'm new to all of this and want to make sure I understand this strategy.

What do most of you do in terms of length of a mortgage. Do you go long term, 25-30 years, to create more cash flow? Or short term, 10-15 years, and not have as much cash flow but pay of property sooner? Is there a basic strategy to this for rental properties?

My name is Craig Price and I'm from southeastern Oklahoma. Just started investing and have one rental property. I am excited that I found this website and look forward to learning more from you all.