All Forum Posts by: David Mohrmann

Hey y’all, I’ve been studying the brrr strategy for a couple of months now but still have some questions, most importantly: what criteria do banks look at when you request a cash out refinance? I know it was mentioned a couple of times by Brandon on the podcast that he didn’t have a w-2 job when he refinanced, so I was wondering what the banks based their criteria on and how he was able to get the dead equity out of the property. Maybe if someone could run a rudimentary expample, I would better understand the nuances. Thanks!

Looking for my first solo flip and would love to hear of any success stories using yellow/white letters to get a deal. What scripts work best? Did you go after the traditional absentee owners or high equity lists?

How far in advance do you ask your tenants if they are going to renew their lease?

Albert Bui how is the SS calculated if the owner is occupying one of the units in the multi? Do they base it off the other rents or is that unit not included?

I agree with Jenessa NeSmith and Paige Kelsey . We used to put out a welcome basket and they didn’t run cheap. Local goods. We have since stopped since it was “eating” into our bottom line and it was never mentioned in the review. Take that money and invest in quality linens. Guests care about certain things: location, price and the space, as in the amount of it. If there is a special candy/chocolate in that area, buy in bulk and have whoever preps your str put 2 or 3 out for each booking.

DJ Daller we only collect with Venmo. Instant.

This is amazing!

Michael Valdez I renovated 3 100+ year old properties and it definitely is a more expensive operation, however, it can definitely be worth it. We have all 3 rented, and while I can’t contribute the rent to the history of the home, I can say that it was a “selling point” for our renters. These homes were all in New Orleans. The biggest expenses were insulating and window/door sealants. There is a test in Nola that is required for all renovations that the house must not “leak” by so much. But we have some great tax incentives in Nola, so that definitely helped. It was definitely an adventure and worst case scenario we can always sell at top dollar because people love that old look with the new feel.

Steve Walko are your student loans interest tax deductible?

Michael Swan I applaud your responses, even though they might have been lost in the weeds. My generation, especially those of us who are professionals, compare ourselves to everyone else our age and if no one else is doing it, you shouldn’t either. So many people think “I’m (x) years old, I can’t do that. What will (abc) think?!” I say screw it. I have two side hustles (part time jobs) and even my girlfriend asks why I’m doing it, I have a good, “regular” job. I’d love to hear more about your story, sounds like you just keep on grinding, no matter what you’re facing.