All Forum Posts by: Eric Piccione

I like the BRRRR method and the potential income it provides. My question is can there be a lease to own opportunity mixed with BRRRR? I would like to have my own property that I can refinance and collect even bigger cash flows for. I was curious if the two can even be merged. I'm assuming since the property is not in your possession, you can't do this. However, when you own the property, can you lease to own and BRRRR at the same time? Thanks in advance friends.

My wife and I are interested in turnkey investing towards a duplex. However, we could not find any information about what happens if we do not need their services anymore. 

1 Is it possible to tell them to scram and then we take care of the property ourselves? 

2 Also, do they keep 100% of the equity and also 10% of monthly income when we are working with them. 

3 If we decide we don't want to use them anymore, does the equity go to us from the date of them leaving onward? Hopefully we can get this cleared up because we wanted to get started but we don't want to make a huge mistake off the bat by not properly analyzing a deal enough and it costing us thousands more than anticipated.

4 Likewise, is it possible to get an FHA loan only requiring 3.5% down to acquire the property.

5 Last question I promise, if we are to get a turnkey property, what are some of the average returns to be expected so we can account for that when going on our journey.

 So when you refinance, your original monthly payment on the 100k home would be, let's say $1,000/m after refinancing, your home is worth 150k after rehab and appreciation. Therefore, the mortgage payment is higher? let's say $1,100/m?

Great, I'll have to do more research into this since for now, funds are low. The way I see it, wholesaling is a way to make a rather fast ROI while still having to put in the work for it.

Awesome guys, we definitely have some presence in the H-townnnn. I'm curious to know, what would you guys recommend when trying to find a specific property within a 20 mile radius of work and there is only a handful of good ones available. What would be a good course of action?

Let's see if I got this right, a house is valued at 100k. you get a loan from a private lender for 50k, 25k of that you put for a downpayment, 25k for rehab. After a year the 100k house is now worth 150k after rehab and appreciation. The total debt is 88k since your tenant is covering 1000/m. So you refinance to get a lower percentage of interest and better term for a lower monthly mortgage. Is the loan amount based on 150k or 100k? Sorry for the drawn out question, but any help on this would be huge as it seems i've found a way to over complicate this.

The way I understand Wholesaling, it is you go to a seller who is selling at 100k, you offer 80k, they accept. You then take a contract to a buyer you find (we buy houses) and say you can get them a property for 80k but you will charge them a finders fee of 10%. Is this about right or do I have some part of the process wrong?

Hey man, let's do it! I look forward to working together!

I know a few areas, I'm not sure if there is a graph online that shows likelihood of flood in the area i'm searching. We live next to a lake so most of these houses get flooded after a day of rain. So the one's that don't may be a steal.