All Forum Posts by: Demetrius Ward

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Hello every one, here's a deal I came across the numbers look good but I want to be sure there wasn't a mistake on my end or maybe I'm overlooking something. The ARV is speculative, saw some similar properties at that price point so I just went with the lower end. The rehab cost another speculation I'm using 10k whether it fixes up bigger ticket items that come up or using it for cosmetics if nothing major pops up. Also I'm thinking of acquiring the property through hard-money and refinancing the property after it's rented and seasoned for 6 months to repay the hard money loan and pull out whatever I can from the deal. Is this feasible or am I way off? 

Thanks in advance for any critique or advice!

@Annchen Knodt Thank you, I will definitely be attending local meetups soon. I am a teacher and a football coach, season is close to over so I should have much more time for everything real estate related.

@Greg Lott That makes sense, thank you I think I would be okay with leaving 5k in at the absolute most. Especially if the cash flow is good.

@Jon Kelly Noted thank you

@Tim Herman Thank you for the reply, my soft cost are averages so they are not specific for my area. If I were to dig deeper on this property I would be really conservative on my numbers. Also, this would be my first property so I would like to initially manage it myself so I can get the experience before I start to hire others to do it for me.  The breakdown you provided gave me a better understanding of how I should be approaching my numbers, thank you for that. 

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*This link comes directly from our calculators, based on information input by the member who posted. 

Some numbers may be off I like criticism it only helps me get better so don't hold back!

@J. Henriquez Thank you for the insight I will be getting these things in order so when I do pull the trigger I am ready to go on all fronts.

Thank you, best of luck to you as well.

Thank you for replying, I believe I am stuck because I keep looking for a home run of a BRRRR. Basically getting more than what I put into a property. I'm not completely naive and I know now that deals like that are few and far between. So I guess my struggle is knowing how much money can be left in a BRRRR and still be considered a success. Hopefully, that makes sense.

Hello BiggerPockets family, I am new to Real Estate investing by way of the BRRRR strategy. Like most rookies, I have a YouTube University degree and I've listened to hours of BP podcast. For the most part, I understand the process and what it entails in its various steps. I have a realtor sending me deals daily, I'm in many local Facebook groups in my area and come across deals that way as well. I think I'm stuck in what they call the analysis paralysis stage. I've convinced myself to start after the holidays. If you're still with me here I'm looking for things I should have squared away before even making an offer. I would like to use hard money to finance the deal my credit score is excellent, but I know that isn't everything. I'd be grateful for any kind of advice or information.