All Forum Posts by: Jassiem Robinson

Hi All,

I have my first wholesaling deal prospect, but the house and the buyer are both in Florida and I'm in Georgia. Does anybody know of any title companies where I can do a virtual assignment of contract for closing? Other than that, I welcome any tips you have for closing a wholesale deal virtually!

Hey BP Community!

I just closed on my first home. It's a small 2/1 in an up-and-coming neighborhood in the city of Atlanta. It's a fixer-upper and I plan on doing a "live-in flip" with this property. So, I'll live in it for about 2-3 years while I fix it up and make it a rental once I move. My only issue is funding the renovations. I want to do as much DIY as possible to keep costs down but will probably have to outsource quite a few things. I was thinking about possibly 

A. Getting a personal credit card with 0% APR for a year or more

or

B. Getting a line of credit through my LLC with 0% APR for a year or more, although the house is in my name and not under the LLC

to help fund the renovations.

So my question is what do you all think about doing something like this? And is option B illegal or problematic in any way? Thanks for the advice in advance!

Hi Everybody,

I'm in the Atlanta area and am looking for a reputable appraisal company. Does anybody in my area know of a company? Or does anybody have any recommendations for a nationwide company? I know I could look this up on Google but wanted to use somebody that's been referred. 

Hi All! I'm a brand new real estate investor close to locking in my first property. However, I am trying to follow the BRRR strategy but also trying to house hack at the same time, so I'm not sure what this strategy would be called. Anyways, I have a property that I want to put an offer on but am anxious about the numbers due to my inexperience and was hoping the community could give me some advice!

Here's the breakdown:

- I'm looking at an on-market Duplex(2 bed/1 bath each unit) in an up-and-coming neighborhood in Atlanta. My gf and I plan on house-hacking initially and then renting out both units and refinancing it once we are able to get another property and move out.

- It's selling for 250k and the ARV is $353,276.

- I'm estimating 50k in repairs. With this 50k number, to get a 70% discount, my MAO is $197,293, which probably won't get accepted. However, the duplex has been on the market for 30 days.

- I will be utilizing the 203k FHA loan to get this property and rehab.

- I created a Cash-on-Cash return calculator and listed all of my expenses (I'm still trying to dial in more accurate numbers on some of the expenses but have general numbers right now based on some research).

- I have my rent for each unit at $1700/month

- My estimated downpayment and closing costs are $24k

- Based on what I have, my calculations are giving me a cash-on-cash return of 18%.

So my questions:

- Do you all think I should stick with 70% discount and pass on the property or low ball them? Or should I take an 85% discount to lock it in? There aren't many duplexes on the market and even fewer that fit my criteria and are accepting FHA loans.

- Am I missing anything in terms of calculations or considerations?

- Do you all think my overall strategy is a good idea?

Hi All! I'm a brand new real estate investor close to locking in my first property. However, I am trying to follow the BRRR strategy but also trying to house hack at the same time, so I'm not sure what this strategy would be called. Anyways, I have a property that I want to put an offer on but am anxious about the numbers due to my inexperience and was hoping the community could give me some advice!

Here's the breakdown:

- I'm looking at an on-market Duplex(2 bed/1 bath each unit) in an up-and-coming neighborhood in Atlanta. My gf and I plan on house-hacking initially and then renting out both units and refinancing it once we are able to get another property and move out.

- It's selling for 250k and the ARV is $353,276.

- I'm estimating 50k in repairs. With this 50k number, to get a 70% discount, my MAO is $197,293, which probably won't get accepted. However, the duplex has been on the market for 30 days.

- I will be utilizing the 203k FHA loan to get this property and rehab.

- I created a Cash-on-Cash return calculator and listed all of my expenses (I'm still trying to dial in more accurate numbers on some of the expenses but have general numbers right now based on some research).

- I have my rent for each unit at $1700/month

- My estimated downpayment and closing costs are $24k

- Based on what I have, my calculations are giving me a cash-on-cash return of 18%.

So my questions:

- Do you all think I should stick with 70% discount and pass on the property or low ball them? Or should I take an 85% discount to lock it in? There aren't many duplexes on the market and even fewer that fit my criteria and are accepting FHA loans.

- Am I missing anything in terms of calculations or considerations?

- Do you all think my overall strategy is a good idea?

Hi All! I'm a brand new real estate investor close to locking in my first property. However, I am trying to follow the BRRR strategy but also trying to house hack at the same time, so I'm not sure what this strategy would be called. Anyways, I have a property that I want to put an offer on but am anxious about the numbers due to my inexperience and was hoping the community could give me some advice!

Here's the breakdown:

- I'm looking at an on-market Duplex(2 bed/1 bath each unit) in an up-and-coming neighborhood in Atlanta. My gf and I plan on house-hacking initially and then renting out both units and refinancing it once we are able to get another property and move out.

- It's selling for 250k and the ARV is $353,276.

- I'm estimating 50k in repairs. With this 50k number, to get a 70% discount, my MAO is $197,293, which probably won't get accepted. However, the duplex has been on the market for 30 days.

- I will be utilizing the 203k FHA loan to get this property and rehab.

- I created a Cash-on-Cash return calculator and listed all of my expenses (I'm still trying to dial in more accurate numbers on some of the expenses but have general numbers right now based on some research).

- I have my rent for each unit at $1700/month

- My estimated downpayment and closing costs are $24k

- Based on what I have, my calculations are giving me a cash-on-cash return of 18%.

So my questions:

- Do you all think I should stick with 70% discount and pass on the property or low ball them? Or should I take an 85% discount to lock it in? There aren't many duplexes on the market and even fewer that fit my criteria and are accepting FHA loans.

- Am I missing anything in terms of calculations or considerations?

- Do you all think my overall strategy is a good idea?

Hi All! I'm a brand new real estate investor close to locking in my first property. However, I am trying to follow the BRRR strategy but also trying to house hack at the same time, so I'm not sure what this strategy would be called. Anyways, I have a property that I want to put an offer on but am anxious about the numbers due to my inexperience and was hoping the community could give me some advice!

Here's the breakdown:

- I'm looking at an on-market Duplex(2 bed/1 bath each unit) in an up-and-coming neighborhood in Atlanta. My gf and I plan on house-hacking initially and then renting out both units and refinancing it once we are able to get another property and move out.

- It's selling for 250k and the ARV is $353,276.

- I'm estimating 50k in repairs. With this 50k number, to get a 70% discount, my MAO is $197,293, which probably won't get accepted. However, the duplex has been on the market for 30 days.

- I will be utilizing the 203k FHA loan to get this property and rehab.

- I created a Cash-on-Cash return calculator and listed all of my expenses (I'm still trying to dial in more accurate numbers on some of the expenses but have general numbers right now based on some research). 

- I have my rent for each unit at $1700/month

- My estimated downpayment and closing costs are $24k

- Based on what I have, my calculations are giving me a cash-on-cash return of 18%. 

So my questions:

- Do you all think I should stick with 70% discount and pass on the property or low ball them? Or should I take an 85% discount to lock it in? There aren't many duplexes on the market and even fewer that fit my criteria and are accepting FHA loans.

- Am I missing anything in terms of calculations or considerations?

- Do you all think my overall strategy is a good idea?