All Forum Posts by: Darren Nardo

Hellloo! I wanted to ask about a few things regarding the BRRRR method.

I found a property in my area for a good price.

95k - comps run for 135-145. Probably around 15-20k of work to put in.

My questions are:

Can you BRRRR if it is a house you want to live in for 1 year - 2 years? If so what's the best way to go about it.

The house is very live-able. Would I be able to move in, fix up and refinance the property I live in? And then start the BRRRR cycle from there?

I am not in position to buy properties cash yet.

Would this property still be able to work for what I am trying to do? Whether it was 3.5% down for first time home buyers. Or 20% down with a mortgage?

Thank you all!

@Todd Aaron quad is full and rents will cover payments on property! Im also curious what my realtor will say because she has kind of taken me under her wing. It’s my first flip also, I don’t want her to think I’m young and just trying to get property. But if that’s not the case, than I definitely want to go for it. Thank you

@Adam Gollatz I am not scared of a risk. I think it’s something I’d like to go for.

@Adam Gollatz I am not scared of a risk. I think it’s something I’d like to go for.

Hey everyone, so I currently have a flip property in the works. About another month or so until the house will be complete. There is a really nice quadplex in my area for sale and I was wondering if it’s a good idea to maybe get a mortgage and pay it off with tenants rent money. Maybe even house hack as well. My partner is the funder for our flip so by purchasing the quadplex; that will be the only actual expense on my end. Thank you everyone

Hey everyone, so I currently have a flip property in the works. About another month or so until the house will be complete. There is a really nice quadplex in my area for sale and I was wondering if it’s a good idea to maybe get a mortgage and pay it off with tenants rent money. Maybe even house hack as well. My partner is the funder for our flip so by purchasing the quadplex; that will be the only actual expense on my end. Thank you everyone

Hey guys! My name is Darren. I am from Pennsylvania working on my first flip. This may be a little long and confusing so I will word it to the best of my ability. TEAM: My partner and I are together as a group. I will be in charge of all numbers, calculations, finding deals, talking to contractors etc. My partner will be more in charge of the labor work, doing what contractors aren’t needed to do while I help to save some money on expenses and rehab; and also just to learn and gain knowledge. And finally, our buddy who is our lender. He will fund the purchasing of the house (cash) and also pay for the rehab expenses. My partner and I will split the closing cost when property sells. Scenario: (using rounded numbers to better explain) Buy property for $70,000. Estimated $20,000 in rehab costs. Comps range from $120,000-$135,000. After property sells, let’s say for $125,000. Leaving $35,000 $7,500 (6%) to realtor $5,000 (2-5%) closing costs. Leaving $22,500. THESE NUMBERS ARE RANDOM. What is the common profit percentage split between your company and the Lender? I want to establish as soon as possible before finishing a deal. I’ve heard 70/30 ... 60/40. But I’m unsure of who gets what. Thank you all so much. I can’t wait.

@Jonathan C. PITI?

Hey guys! So my neighbor is really sick and it doesn’t look like he’s going to make it. We have been really close with him for years. He’s the man but his family is not very polite. I am wondering how to (if this is even realistic) politely talk to him about possibly purchasing the property. It definitely needs work. I don’t know if this a rude suggestion of mine. I’m not sure. My parents live in the twin house attached to him and I don’t want his disrespectful family to be near my baby brother and sister if they decide to move in. How could I go about confronting my neighbor about his plans for the property before it is too late. And if it something I shouldn’t do than I simply won’t. There’s a lot of property out there.

I feel like I am not using the app to its full potential. I am definitely learning and taking notes as I go, but I am wondering as to how I can connect/find investors who are investing in my area. Are there keywords or anything I am not using properly?