All Forum Posts by: Jake Silverman

@Paul Shannon hi Paul thanks for the reply. Our property is actually in south bend Indiana.

My Wife and I bought a rental property with the intent to use the BRRRR method. We have completed the buy, rehab, and rent portion. We are in the seasoning period to do a cash out refi. The property has an electric water heater. The tank might be a little old but it is in good condition. The house is having trouble getting hot water so it seems The element no longer works. I am debating to replace just the element of the whole thing. I know that if I replace the whole thing I will save on labor in the long term, but as a BRRRR investor will it also raise my ARV when it comes time to get the appraisal?

Hi everyone,

I am just reading this post and love the info. The water heater on my property is electric. I think the tank is around 17 years old and Most likely needs a new element. The water heater is still in good condition. I will probably replace the water heater and element to save on double labor costs and a mess later on. I am brrrring my property and MY QUESTION IS will a new water heater get me a higher ARV?

@JD Martin just google Powell fed inflation.

@JD Martin

https://www.google.com/amp/s/www.newsweek.com/inflation-your-finances-jerome-powell-jackson-hole-economy-1527415%3famp=1

https://www.google.com/amp/s/www.cnbc.com/amp/2020/08/04/the-fed-is-expected-to-make-a-major-commitment-to-ramping-up-inflation-soon.html

I just complete the buy, rehab, and rent portion of my Brrrr. It is my first property and I was planning on doing the cash out refinance portion with a local bank about 4 months from now. How will the fed planning to embrace inflation affect my plan to cash out refi? I know there was already a fee placed on doing a refinance but would love for anyone to shed light on how this announcement will affect cash out refis.

@Whitney Hutten I just completely the buy, rehab, and rent portion of my BRRRR. It's a single family home that will arv for under 100k. Do you think I should go to a commercial lender to cash out refi ASAP to avoid the fee?

My wife and I just got started in real estate and are looking for an investor friendly accountant. We currently own a rental property in Indiana but are based in nyc. Please share your recommendations! We would love to hop on calls this week if possible.

@Neil Henderson How much higher are delayed financing rates? I called a bunch of lenders to inquire about it and understand how it works now. I think that if I dont see my property hitting the high range of my projected arv that its a route i would like to take. 

My numbers are 

Purchase price:45250

Closing: 1100

Rehab: 4900-7000(depending on what the tech says about the hvac. If it replace hvac i will probaly go the route or cash out refinance)

ARV range: 61-66k

Rent: 750-800

Insurance:55

@Mike McCarthy i am going to have the banks appraise it but want to showcase my property at its best. No mess by tenant. How do you clean up before appraisal?