All Forum Posts by: Jake Parsons

Looking for any lenders that could give their insight. If a canceled bankruptcy automatically removes you from being able to work with 99% of conventional lenders. Would it effect you when qualify for an FHA loan?

@David Kelly Appreciate you for clarifying

@David Kelly is the $100k minimum a fact? I am 99% sure it isn’t but it’s best to hear it from a lender.

@Theresa Harris does that mean they will not allow a refinance on how house bought under $100k regardless of how much it’s worth after repair?

@Alicia Marks thanks for the input that’s actually very helpful.

I am a beginner in real estate and have a good amount of cash ready to BRRRR. I am currently looking at a property in Detroit Michigan for $7k because it obviously needs repair, the seller says it should be about $25-30k in repairs and if that were the case I would still have a solid amount in reserves in case of emergency.

I have a rule that if it has foundational issues it’s not worth it. Assuming there is no foundational issues would you advise a beginner to stay away from a repair of this size, or go for it?

Any feedback would be greatly appreciated!

@Alecia Loveless Thank you for the advice!

I'm starting out in real estate investing and I'm going to BRRRR. I'm currently in the deal finding part of my first deal and am seeing how challenging it is to find deals that match my criteria. What are some of the ways fellow BRRRR investors or just any other investors have found deals?

I’m a young investor from southeastern Michigan looking to invest in the Columbus area, I’d love to connect with investors, and agents in the area. Please reach out!

My name is Jake Parsons, I'm 18, and I'm planning to start investing in real estate. I've spent the past several months reading books and listening to podcasts, I plan taking advantage of the BRRRR strategy but I'm not sure if I should use all of my money (around $70,000) or if I should try and get a loan through a hard money lender. I am looking to the BP community of great/seasoned investors for advice on what the best course of action would be.