All Forum Posts by: Jessica Lamont

@Dave Skow yes this is including ALL closing costs- prepaid interest for 1 month, title insurance, buyer insurance, 3 points origination fee, etc. 

Thank you all for your replies. Very helpful! 

We are doing a hard money 12 month loan for a fix n flip and our closing costs are over $10,200. Purchase price is $121k. Is this standard for hard money or too high? 

@Matthew Crivelli thanks! Great advice. Would you calculate the purchase price after closing costs? 

We bought our first investment property and looking to purchase more. What is a good price point to look into now that interest rates are high? We bought at $120 and ARV is $220.
What’s going fast? Higher price points? 

Any recommendations are greatly appreciated! 

Hello,

I'm purchasing a sfh in kingman, AZ using BRRR and need to get the lowest rate possible when I refinance to make this deal work.
home purchase: 121k

repair: 29k

ARV: 230k

What is the standard DSCR loan rate right now?

Thank you! 

Hello BP friends. We are finally here and ready for our 1st investment property. Here are the details. 
Asking $140k

Offer $127k 

Repairs: $30k

ARV:$210-$244k

Avg rent for this size property: $1850

My husband and I would love to build our portfolio and do the BRRR method, but should we fix and flip this one? Any advice is MUCH appreciated!!

@David M.

Thank you for the suggestion! I will definitely do that. 
I am doing a hard money loan with 10% down but the rate is 14% so I would need to refi once it’s renovated and rented. We are liquid but our taxes are not suffice for conventional refi on the rental. 

We are about to purchase our first investment property using the BRRR Method. We would really appreciate any advice from experienced investors on refinancing. Should we purchase under our personal names or open an LLC? When we refinance the rental, we don't want it to be based on our tax returns because we wouldn't qualify. Please help! Thank you!