All Forum Posts by: Dan Constantine

Thanks all for the input. I’ll have to get my hands on the lease and see what it says.

My tenant has informed me he needs to break the lease due to job loss. He has 1.5 years left. This property is in DuPage county Illinois. My brother handles the management side so I don’t know what the lease agreement says concerning early termination. What can/should I do pertaining to penalties? All advice welcome.

I sold my primary in Arvada in 2016.  Lived there 3.5 years.   At the time, I paid no tax because I lived there long enough.  You can make up to $250k if your single or $500k if your married without having to pay Uncle Sam.  The rental I think you’ll have no choice though.  But look at it this way, if you have to pay taxes then it means you made a profit and that’s a good thing.  If any of this has changed under Trump I am unaware.  

What factors of a property analysis let's you know if you will still have a positive cash flow after doing a cash out refi on a BRRRR property? What do you look for? Does the 1% rule have anything to do with that?

Thanks everyone for the input! Seems like it may not be the way to go for me as there is not a viable way to get back your initial investment in the short term to put into a second property.  Hard to build a portfolio if you need to constantly save up for the next down payment.  

What do you all think is the best site or app for looking up comps to get an ARV on a property? I am not an agent so I don't have direct access to the MLS.

By best I mean, best search options, most info given, ease of use, etc.  

Anyone have anything on this?

I should add that Jessica from BP sent out an email link for a book by this company.   The properties offered include property management.   

Has anybody heard of this company or had any experience with them? I assume that since BP is sending out there info with links that they must support them and what they do.  I am a total newbie investor and am just in the educational stage but I am committed to getting invested once I feel my education is sufficient.  I do have capital to use if I choose to from a Denver area home sale which I cleared $125k and also a 401k sitting at approximately 200k. From  what I’ve seen it appears to be one of those “ to good to be true” type things.   I would like to get into the real estate game and from what I’ve seen from there website and videos is that they offer rehabbed properties with instant cash flow provided the standard 20% down.  They only operate in several select areas.   If anyone has insight on this it would be greatly appreciated.   I live in the Chicago area and to me, it seems the market is to high for a beginner.