All Forum Posts by: Craig Anderson

With any investment, there are risks. I would tell your partner that there can be unexpected circumstances which would require more money into the project. A successful BRRRR is one that gets most or all of your money back from the refi. Think about that your "down" in a home for $10K which the home is worth $133K. Are you really "down"?

It depends on your plans. Are you BRRRRing and house hacking that one, or just for rental? Are you buying another property with the FHA for your primary and not house hack? Depending on your situation, it might be best to house hack again with the FHA, and collect your cash flow of $1000 a month. Save the CF money, don't spend any of it, and save for the BRRRR on your 4th property. Then, continue with the BRRRR method at 2 properties a year.

All investments are based on each individuals needs and their goals. Ultimately, you'll need to decide on the best approach that suits your needs.  Good luck!

Thank you Paul. I will look into the information that you sent.

What areas are you looking at?

Jason, the books that you have are great for the mindset of investing. However, real estate or any investing can take you into so many directions. So, I believe in focusing on one area and being great in that area. And, the book that helped me get focused was "How to Invest in Real Estate: The Ultimate Beginners Guide to Getting Started" By Brandon Turner and Josh Dorkin.  Great read, and I tell everyone that this should be one of the first books to read as a real estate investor.  Then, like Grace stated, don't forget to read books that are personal help books to keep you balanced.  Good luck!

It all depends on the type of BRRRR. You don't always have to get a run-down place. It can be a cosmetic fixer. Your future gains come from getting the house at the right price in which you can be out of pocket for as little as possible or make money in the end.

What happens if a tenant refuses to sign a lease agreement and wants to stick the original terms? And stay month to month. They have been good tenants for over 5 years.

 What is it called?

I will join.

I'm looking into investing into warehouses, development land, offices, restaurant spaces, etc.