All Forum Posts by: Edward Eloma

Hi need advice, I’m unemployed at the moment I cannot qualify for any house. I came across a house and I love it and my girlfriend is willing to purchase it, she qualifies for it but she wants nothing to do really with multi family investing but wants to try and transfer it into my name after purchasing. Any advice

? As far as transferring a deed? What should I do. Her gifting me the house? Selling me the house? Changing the deed to my name?

@Kody Thompson thank you for your help!

@Jeremy Bourgeois great thank you for your support!!

@Caleb Brown great thank you so much for the advice my last quistion is do you have to rent it to get the right apprasal ? like do you have to rent it out to make the whole BRRR method work. because it is a single family

i need help for a fellow friend.. we are working with a house that is for a sale price for 120,000. the house is a single family home in a good area of massachusetts. we have 160,000 but want to make the right step in this process and need advice on how to go about it or if its smart to finance it. FHA 203k or Conventional or cash buy it. we were hoping to get the house for 100,000 and rehab some of the house for 50k. but we are running into worries about covering the cost of the septic and well.. and weather or not to BRRRR it or sell it off. my guess is the property could sell for between 260,000-300,000 tops.needs new kitchen gut, 1 bathroom gut, new plumbing throughout, and heating system and new windows and electrical upgrade.whats the best way to go about this

@Will Fraser I was curious if I should do this, in my area multi family’s are going for 320,000 turn key. And single family’s that need work are going for 140,000 150,000 and selling for 280,000. I’m wondering if I should buy a single family fix it up and rent it and get my money back in the refinance. But the whole brr thing makes no sense if you refinance now your loan will be way more money won’t it? A loan on 140,000 vs 280,000 30 year? Im wondering if that will kill your purchasing power since you’ll have a higher loan 

Has anyone got into a brrr for a single family??

@Jeff Purl what do you mean by str? Do you furnish your appartments??

Hey everyone I’m purchasing my Second investment property in newbedford ma. They do not have any public means of transportation aka trains. But as of 2023 newbedford is getting public transportation of a train station. Will that bring up the values of homes in newbedford??? And if so should I be trying to purchase my next investment as close as I can to the train station locations? Planning ahead!

@Jaysen Medhurst yes that makes sense that you for your input!