All Forum Posts by: Jonathan Darling

Definitely Kurt let me know if you have any success I would love to check in with you in the future to see how things go.

Hello Nick,

It will probably be hard to get the ARV up to where I would need it to be to pull back out my initial investment but unfortunately I can't afford to buy a 6 unit building. I might be able to afford one unit though. I might not get everything back out of the deal after I refinance but I think I can get at least get three quarters of it back out and that's a decent start I think.

Thank you Tyler, Brandon, and Nick that was tremendously helpful!

Hello everyone,

I'm just starting out in real estate investing and I'm thinking about using the BRRRR method. But the one piece I'm still not sure about is the refi. One example I've seen is you buy a house for $70,000 and put in $35,000 worth of work into it. So now you're into it for $105,000 and you go to refi and it appraises for $150,000 so you get a new mortgage for for 70% which is $105,000 and pull your investment pack out of the deal. But how do you know that $35,000 worth of work you did to the house to fix it up is going to increase the value by $80,000? Is this even possible or just wishful thinking?

Say I wanted to buy a property that was listed for $100,000 but I put in an offer of $70,000 and it was accepted. I put up a $20,000 down payment and got a conventional mortgage for the other $50,000. And lets assume that it needed no repairs other than a fresh coat of interior paint and the carpets shampooed and I did both myself so it cost me very little. When I went to refinance would the appraisal come in at the original list price of $100,000? Or would it come in at the $70,000 it went under contract for? 

Unfortunately, many of the single-family homes where I live also have HOAs so an HOA fee is unavoidable. In a subdivision I used to live in, the HOA made a neighbor of mine tear up a new stone driveway he had put in because those types of exterior alternations where not allowed by the HOA. I think I just have to accept that no matter which type of property I buy I'm going to have a meddling HOA to deal with. I think because of their lower prices a condo might be a good way for me to start out. But does anyone have experience refinancing a condo to get their investment back out?

Hello Everyone,

My name is Jon and I'm a new member here on the Bigger Pockets forums and a newbie to real estate investing in general. I've watched all the Youtube videos, listened to all the podcasts, and read all the blog posts about the BRRRR strategy I could find but I haven't seen anything that covers how this strategy might be applied to buying and renting condo units. Does anyone have any experience doing this? In my area single family home rentals isn't quite as common as apartment or condo rentals so I was thinking about starting off in real estate investing by trying to us the BRRRR strategy to buy and rent condos. Has anyone here on the forums done this before?