All Forum Posts by: Forrest T Schue

There are tons of great RE and businesses books out there, what are your favorites? 

I’m currently finishing Real Estate By the Numbers, by BP’s J Scott and Dave Meyer. 
I like this book because of all the reference equations and definitions I can look back to as my career moves forward. Nothing like a book that skips the story and gets to the nitty-gritty’s. 

I also love Robert Kiyosaki’s -Cash Flow Quadrant.  Growing up in an “E” and “S” household, it was a big eye opener to me to learn how businesses owners and investors really made their money, and inspired me to do the same.

Nice work you’ve definitely done your research. 
I know from experience by house hunting for my primary residence in Sacramento, that you can’t get much for 150k. I think that any time you have the opportunity to buy for around 50% arv, with(what sounds like) a fairly light rehab, and at 3.5% down you should seriously consider. 
It sounds like you’ve found a property with “personal distress”, which can be a good thing for us! 

Of course, keep being conservative on your numbers, and diligent in your inspections. 

Best of luck! 

I recently posted a similar question. There are some good responses on there if you wanted to check that out. 
The consensus was pretty much DSCR loans. After consulting with my lending agent it does seem like the best option under the right terms. For me that might look like Interest only payments, with 6 months or below seasoning on a cash out, and no pre-payment penalty.
I imagine that with conventional loans now being harder for investors to use, more investor-friendly lenders will fill the void. I hope!

Are you finding that they are still able to cash flow with higher loan rates? Especially a concern with DSCR's early pay-off fees

 I had to read a couple times but makes perfect sense, thanks for the response! This new hurtle will make me a better investor for sure. Do you guys work with out of state loans? I do have a LO but I will keep you in mind in the future. 

Are BRRRR investors tracking the new change to cash-out-refi seasoning periods?12 month minimum seasoning period rather than 6.

What are thoughts on how this could effect the BRRRR strategy? And how are people changing their systems?

-Forrest, CL OH investor.

Rook! I started getting serious about wanting to be a real estate investor about 2 years ago. Since then I've purchased my primary residence, completely rehabbed and doubled it's square footage, and I'll be renting it in May(Waiting until may to reach my 2 in 5yr). I opened a HELOC against it for $100k(gained equity), and am closing on my first out-of-state flip next week.

My goal for out of state is to BRRRR every 6 months(CL OH market). I am choosing to flip this property, and possibly the next, to build capital to fund flips that I can rehab by myself in my home state(VT).

My favorite pros: 

-Robert Kyosaki for his book "Cash Flow Quadrant", and "Rich Dad Poor Dad". For fueling a shift in my mindset of money, and how I make it. 

-Bigger Pockets crew like; Brandon Turner, Dave Meyer and J Scott for analytics and book "Real Estate By the Numbers", And David Green for his book "BRRRR".

Thanks! @Max Emory

Buying!