All Forum Posts by: Jonathan Chan

@Shayan Sameer, we use the 70% rule to decide if we’re going to spend the time to fully underwrite the property. If it’s at or near 70% we dig into the full cost model that accounts for financing costs (hard money and GAP), acquisition costs, holding costs and selling costs. For lower value flips, 200 - 300k, we stick to that range as the projected profits doesn’t have much room for an inevitable rehab oh-$hit. On higher value we are willing to stretch if need be as there’s more room to cover unknown issues.

Newbie in the North Central Ohio area (Lucky me) who hopes to have about somewhere around 6 digits near the new year to start out with and cannot decide which way to go.  I make good money and am single. Goal is to try for 8-10 Properties and try to leave my W-2 in 3-5 years.  I can't decide whether to be aggressive on buying and paying down one or spread on a couple and pay down slower.  I want to limit my risk as not knowing where the economy may be going.

I am looking at doing my first remote deal. I am considering BRRR as well as just purchasing a turn key property that cash flows. Any recommendations on how to proceed?

If I go with the BRRR strategy would love to hear some tips on how to successfully manage the rehab remotely.

 I would love to chat with you. I'm actually considering that Sub To community now. Along with another.  Would be great to chat and learn how you've done since joining.

Johnathan, does the pace Morby way ever require a private lender in 2nd position? Or do you ALWAYS get the seller to carry?