All Forum Posts by: Justin A.

@Guifre Mora thank you for the response! can you elaborate on the 3 mo PITIA and closing cost?

Hi BP!

I had some questions regarding cash out refi portion of the BRRRR strategy. What are the main criterias that lenders look for when you go to apply for the cash out refi? 2 year tax returns, seasoning period, certain amount of income to get full value, etc...

Also, what can get you denied?

I feel like this portion isnt talked about much. Id

highly appreciate any feedback on the matter from a lender or someone that actively brrrrrs. Thank You

Hello BP. First year in the business and we generated some revenue for the year. I was hoping someone can connect me to an Accountant / CPA that they have had great experience working with, preferably someone who also does REI and is locally here in Sf bay area / Sacramento. If you're an accountant yourself reading this, please PM and lets connect! Thank you in advance!

I have a motivated seller who wants 335k for the property (arv is 400k). The property is honestly in good condition and can be rehabbed in 2 weeks, it just needs a new kitchen and some paint. My problem is how i can structure this deal where I just pay for the rehab and list it for her. This wouldnt be a seller financing deal would it? Instead, I would think to enter a partnership where I give her her price and I capture the difference, once sold. I was hoping I can ask the BP family on how I can take this deal on creatively, and since its such light work i really dont want to purchase the property from her just to sell it in 2 weeks. How would I take title, etc. Any feedback on the matter would be very helpful. Thank you in advance!

@Kethric Cottrell whats going on? you mention you're looking in Vallejo, Ca? what exactly are you looking for?

thank you! highly appreciate the advice @McKinley Crowley

Hey @Michael Quarles whats going on! appreciate the reply! Im a big fan of your podcast! I love the content / knowledge you put out there. 

What do you think about sending to PO BOX mailing address? From your many years of experience are they as effective or are they a waste to mail to? Reason I ask is because I picture people checking their PO BOX every 3 months or so. Appreciate the feedback

Thank you for that clarification @McKinley Crowley! In the case of PO BOX mailing addresses, in your opinion would they be equally effectively to send to or not? 

I have a list of both physical address and a “mailing address” for particular properties, which one would you choose for direct mail? Im assuming those properties are rental properties, so by using the mailing address I would get the message (my mail) out to the owner right? some properties have P.O. boxes address, would you mail to that too? to anyone who has any experience on this, would be helpful. much appreciated!

I talked to the a seller and the situation is he wants around 350k for his house with a mortgage roughly at 290k. The comps in the area is around 445k but thats not true ARV value. Those comps were dated but well kept properties, so i figure after im done with the property its worth more? so if i did the math .70 x 445k - (repair cost 20k)= 291500 is the most i can offer? not a deal im assuming?

I have two issues, if the property is already in relatively good condition, how would you suggest this be flipped? or could i just subject to and rent it out? I estimate the the rehab cost left to be done to this house is 15-20k. which brings me to another issue and thats the rehab would take less than a month. wouldnt i need to hold it for 90 days before i can resell?

and 2.... he currently has it listed with the realtor. if this is a deal, should i go through the realtor or himself? (he contacted me himself due to his realtor being out of state for two weeks) what would be a good strategy going forward? 

Please advise. thanks