All Forum Posts by: Jessica Markley

My first attempt to BRRRR a property, go figure Covid comes along right as the 6 month time came around to do the cash out refinance. Bought this SFR rental for $230,000, put in $30,000 in rehab, put 20% down, paid my own cash for rehab and down payment and collecting rents of $2300/month. I clear over $700/month cash flow on it now. Realtors have said if I would list now in this hot market I could get $320ish (my research on comps shows this as well) but it appraised for much lower, only $275,000. Should I appeal and try to get just some of my cash out now for another property? or hold it for better times because appraisals are coming in low? I will only get 1/3rd of my original cash out, or wait until Covid is over and get another appraisal? Thoughts? Any insight is great. I want the money out of it to do another project because its my own cash, not hard money, is this a timing issue or is smart to take out of it what I can get back out of it now?

Same experience with the new calculator, glad the old one is still an option. I'm sure they will keep improving it! 

@Mark Ainley thanks! Would appreciate any info you can give. 

@David Robertson Thank you! I work on apple computers, will your spreadsheets open and operate in numbers?

@Brie Schmidt could you help me out with the same question except out in the western suburbs?? I'm in DuPage County (Wheaton, Winfield but all of DuPage really) I am struggling big time to find a well versed competent multi-family familiar realtor. Same issue for my flips, rehabs etc....would love someone who really really knows investing. 

Could anyone give some updated reviews on houseflippingspreadsheet.com? The only reviews i can find are from years past, does anyone have any more current experience? It seems like a good package, I would use for rehab projects and rentals as well but I am terrible at keeping myself organized on paper and this seems like it would be helpful. Looking to scale this year and must stay on top of stuff!

Thank you for the response! Much appreciated!

Newbie here, 1st rental listed but have done rehabs/flips before. I have an interested tenant, they pass qualifications on all standards except background check which isn't complete yet pending formal application (using Cozy.) However, their current lease isn't up until end of Feb 2020. My single family rental is move-in ready now available Feb 1. Would it make sense to have them pay a holding deposit (if so how much?) to hold the property for a month? It was my understanding that holding beyond 2 weeks w/o a security deposit etc might not be smart but what if I was able to charge a "holding deposit" for month of Feb that would cover the mortgage etc if they walk and don't move forward. I would apply "holding deposit" to security deposit assuming they sign lease. Any thoughts or suggestions here? Anyone done this and are there good forms out there for this? I'm in western suburbs of Chicago if that's helpful. 

Andy Broomhead, Copperhead Home Inspections. He's amazing.