All Forum Posts by: James Sanders

Looks amazing!! Looking forward to seeing the listing

Gary Harris I would absolutely love to see the numbers. I am just starting to learn about how to analyze properties and it would be amazing to see some actual data. And if not, thank you for even considering doing this for the new learners like myself. -James

Bob Okenwa Thanks so much Bob! Great insight. It is appreciated.

Bob Okenwa Thank you for your response Bob! One more question if you do not mind. So when I am looking at properties online, am I trying to get in the ballpark of numbers that might work out, then try to walk the property with a GC?? Or try to find something that I think is undervalued and then walk to see what the costs will actually be?? I will definitely be picking up the book on estimating rehab costs but I always hear from the podcasts to start analyzing at least 3 deals a day to get used to it and I want to start getting a grasp on it asap! Thank you again, your insight is truly appreciated! -James

I forgot to mention that my ideal goal would be to start in fix and flip or house hacking a duplex/triplex/quadplex. I have some experience in construction but not enough to know costs. More of a helping hand. I have about $40k saved right now and was wondering if that is going to be enough for a down payment and/or rehab. Thanks again for any responses.

Hey BP family! I have been trying to learn as much as possible the past month or so to try and get into REI. At the moment I walk for my job so I have about 8 hours or so a day and all I do is listen to the BP podcast and I love it! That soon may change into a position where I might not have as much time to listen (besides my hour commute). I want to be able to start analyzing properties near me (Lakewood CA) but I am having a hard time figuring out rehab costs on properties on the MLS. I want to get as much practice as I can in before I begin to start making offers. I am eager to get started but do not want to rush into it without the proper foundation. The problem is the job that I plan to transfer to in a couple months, has a lot of overtime potential and I want to take full advantage of it to build my capital but I am not going to have as much time to analyze and potentially walk properties. And as far as ARV calculations, how do you estimate that without a RE agent?? I don't want to waste their time right now cause I want to learn for a few months before diving in. Can I do that on my own accurately?? Thank you in advance for any responses! -James

Thank you for the quick response! I guess I still have a lot more learning to do!

Hey guys/gals I just had a quick question regarding the BRRRR strategy. How exactly does the cash out refi work?? If you say bought a house for 100k and put 50k rehab into it and cashed out at say 200k how do you figure out the rent amount?? Do you get it appraised before renting?? Then base rent off of the new appraised value or are you trying to figure out the rent amount beforehand?? Thank you so much for any responses! Glad to be a part of this community -James