All Forum Posts by: Hayden Prather

So I dont think I’m thinking of this correct so I have a question for more experienced investors.

How would I determine what I could spend on a certain deal or how to find out if you can get all your money back or more?

Say there’s a deal for 80k

Your down payment of 25% equals 20k

You spend 35k cash on repairs

All in your at 55k of personal cash

ARv comes in at 120k so 75% of that is 90k

So that’d be your money back plus 35k?

I feel like I’m thinking of that wrong cause I rarely see anyone talking about that type of turnaround.

If anyone could bring more to my attention that’d be great!

Thanks

@David Frandsen

Yeah I figured I’d save like 40% which was about 680 or so and I don’t plan on owning for more then 3 years or so, so I’ll fix stuff as needed but really the big things have been updated so don’t see anything too drastic happening. And then I can sell and just use that money to get us into a better situation or something bigger. Thanks tho!

@Ed Brancheau

60 hours is what it was I believe haha and I think it’s 120 to become a broker after two full years experience

So I've been working very hard the last 4 years to flip my money, last year I got my real estate license. I sold two properties and now I'm about to house hack and purchase my first duplex putting the 3.5%. I'm going to buy for 156k and they'll throw a grand for closing cost for us. One level is a two unit and the other is a three unit and they both steadily rent out for $850 each bringing $1700 a month. My PITI is going to be $1000 a month, this property has been fairly remodeled the last 4 years new water heater, updated plumbing/ electrical new flooring throughout and recently painted and a little yard work done. Me and my girlfriend plan to move in one side, we're basically living for free and get to save $1000 a month which is what we are use to paying for rent. I feel good about this as my first investment to get my feet wet and am excited that we'll be able to save $12,000 after 1 year living in it. Then we'll move out and either flip or get a house we can fix and live in for a year or two. From the experienced people out there, do you think this is a great start for us?

I'm 22, with a couple grand saved up and considering getting my real estate license with intentions to get into house flipping and maximizing my profits. I know it'll be a little tough going he first couple couple years, but is making 40-50,000 in the first year out of the question? I only make 30 grand a year right now and can't even afford a house payment so hoping I could make real estate work for me. House flipping is all I think about and I'll do what I have to till I get there, just need some guidance! Thanks

I'm 22, just paid my truck and credit card off. Getting closer to getting completely out of debt. Also have been hustling none stop mowing and rebuilding dirt bikes I have about 3 grand in my hand so far. My question is, should I invest into getting my realtor license? I have the start up money to go full time and have the ambition and hunger for none stop success. I would think this would be a great way to save up about 20 grand for my first flip plus all the knowledge and deals that come along with it. Opinions?