All Forum Posts by: Daniel Tanasa

 Hello Charlie, 

There are may options yo can buy houses with $0 out of pocket. But you have to look for those deals, as they are not usually on the MLS. You can target low equity homeowners which are in foreclousure and will lose theitr house to the bank because they can't make the payment. You can buy it Subject to the existing mortgage, have them deed the property to you, you will catch up their areears and rent it out.

Another option is to do the BRRRR method, buying a distressed property from a wholesaler, direct to owner or even MLS sometimes, fix it up and force appreciation and then refinance all your money out.

Seller financing can be with pretty low money out of pocket sometimes, but usually still require some cash. 

I did all the options mentioned above to buy properties with $0 or little money out of pocket. I actually got paid to buy some of my last few BRRRR's. They all work. you just need to see which one you want to focus on.

Hey Luis, 

As @Ben Trageser said above, I think the best way to go about this is to have an attorney look over your contract and make the necessary adjustments. That's cheaper than having legal problems down the road. 

Hello Gustavo, 

I was trying to share the contact info with you but seems like I can't do that in the forum, is agains the policies. DM me and I can share with you my insurance agent contact. He has some decent options. I changed over 5 insurance agents i the last 2 years too. 

Hello Dalton, 

Is this an appraisal done before the work was completed where you gave them the scope of work and they are giving you the ARV appraisal? The hard money lender that require appraisal usually do that, and in my experience the appraisers are a bit more cautious in those scenarios. Especially if the house is in a bad shape, some don't have the vision to go past that and they are giving you a lower ARV. Usually in my experience that tends to come back higher, aligning with the comps, after the actual renovation was done.

That being said, your numbers are still pretty slim and if you're not too sure about your ARV I think you should try to renegociate with the seller to get your numbers down a bit to offer you some more breathing room.

I would keep it in my bank account. Do 1 BRRRR per quarter (4 a year, very doable), try to leave as little of your money as possible in each deal, and keep recycling the same money to buy more properties. Stop when you reach your goal or you want to go in bigger asset classes.

Hey Josh, 

Welcome to the community and congrats for starting to take action early on. What are you thinking to start with? Building up a rental portfolio, flipping, wholesaling? 

That makes sense. Congrats for your success. 

Hello Donald, 

Happy to connect. I am an investor and realtor as well but I focus mostly on fixing up distressed properties to increase value and grow the equity and that usually allows better cashflow also. 

Buying new constructions and holding them for only 3 to 5 years is an interesting strategy. Do you see a big increase in value after holding it for that short of a period? Also, most of the new built are in the suburbs where there are vast amounts of land and probably they will keep developing around for many years to come. That continuous flow of new nice properties wouldn't hurt your valuation, since they can go into something brand new instead of something that is 3 years old?

Intersted what's your experience with that. 

 Hello Erick,

Welcome to Bigger Pockets. Since you're interested in small multifamily, most of those are gouing to be around downtown, rather than suburbs. So I will focus on areas like Near Northside / Ryon, EDO, Third ward and OST. 

Feel free to DM me if you need help with anything. 

Welcome to Bigger Pockets. 

Realtor and investor here as well and I am happy to connect!