All Forum Posts by: Jordan Ray

Hello , 

I have a rental property in memphis and now planning to get second one.

I need to understand if I cash-out-refi my first property and put the cash downpayment on second one , Should I consider that as 0% downpayment Or 20% downpayment to calculate if the numbers make sense.

Also suggest if I should do it at this point or wait some more time. Here are the numbers:

Property 1:

Purchase Price - 130k 

Current Zillow Estimate - 166k

Loan Remaining - 100K

Current Interest Rate - 5%

If Refi - 6.38%

Obviously at higher interest rate my EMI is gonna increase , but at same time I am adding an additional asset which would cashflow as well. OR make the downpayment from out of pocket and refi later when interest rates go down ?

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.

 hey @Jordan Ray im looking at  MF between the airport and the UN, any help?

Good Morning, I have 5 single Family Houses in Grenada, MS. 1 1/2 hours drive south of Memphis, TN. 30 minutes from Oxford, MS. I am looking to sell all properties individually or together or in between. All well under $200,000 and good cash flow. Partner and I are splitting up and feel it's better this way. Thanks

I have vacant properties that have been a struggle to upkeep while they are on the market either to be rented out or sold, whichever comes first. One property had its water heater stolen not once but twice as well as the furnace in the second attempt. Another property continually has squatters even with boards up and bars in front of the windows and doors. Police reports have been made, but I fear that it has been a consistent battle to deal with, especially with investing out-of-state. Property management has been aware of the situation but can only do so much even with constantly redoing what is being removed and repaired. I know it has been costly to replace/repair the damage done especially with the property being vacant and a monthly mortgage payment due as well without any rental income coming in.

Any advice is greatly appreciated. Would love to hear from investors that have been in this type of situation and what has been successful for you in terms of keeping them out and being able to still sell the property and/or rent it out.

My goal is to acquire 167 rental properties in 5 years generating $500/month on average. 

Im starting my first year and am planning to buy 10 properties in 1 year. I’ll have $50K saved and $8,000 in credit lines. 

My question is how do I get the money for 10 down payments? I’ll have enough capital to cover 2 down payments 1: first property Under 5% because I’m house hacking. 2: And 20% for the remaining 8 properties. Let’s assume 40K down payment * 8 properties = $320,000. Is it smart to finance the down payment on top of the property? How do I get the financing? Is there another way I could accomplish this? 

Hey BP friends

pretty new here and looking for good BRRRR markets up to 150k all in.

would love to hear your thoughts!

Thanks in advance,

omer