All Forum Posts by: Josh Braun

@Jimmy Charousapha - http://www.reintn.org/

Agree with @Luka Milicevic. I had a similar scenario I made a decision on: refi an FHA loan to remove FHA PMI or wait until LTV reached 78% and FHA PMI is removed. I opted to wait as the cost to refinance was greater than the ~20 months worth of FHA PMI left.

@Jimmy Charousapha - here are actionable steps and the route I took:

1. Buy and read Jay Scott's book on flipping houses and book on estimating rehab costs. Read it front to back twice and take notes.
2. Analyze 100 deals (on and off the MLS); you have an opportunity right now to gain hands on experience on the analysis side and that will equip you in creating awareness of what a deal is, what it looks like, smells like and what is not a deal. FYI - in Nashville, 98% of deals are off market, not on the MLS.
3. Join and start attending the local REIN group here in Nashville
4. Connect with 10 people at REIN who have done a deal or are doing a deal
5. Find a deal or find money; once you have one of those, one of those 10 people you connected with will help you with the rest

houzz.com is a good place to find contractors. You can see reviews and previous work.

Agree with @Hozan Barwari. Best thing is to discuss in person down at zoning. To save you multiple trips, it's best to have a large print off of the parcel when you go down there and talk to them. Make sure the print off has dimensions on every side. You will also need to ask about setbacks as that determines where the building(s) can be placed on the parcel.

Agree with @Luka Milicevic on appreciation. Buying property that cash flows on day one is a great way to start and grow your business. Having cash flowing rentals provide monthly cash, mortgage principle reduction and tax benefits. Appreciation is icing on the cake.

Nolensville is a great location. I'd try and find something around there as that is a great market in my opinion. Additionally, check out neighboring Smyrna and LaVergne. There are good deals there and lots of jobs in the area supporting a good rental market.

I'd highly recommend getting an attorney and CPA to review your setup and make sure everything is done correctly. Definitely worth the cost.

I find Smyrna/LaVergne as great rental markets.   1200-1500 sq ft, 3bed/2bath, 1 car garage have worked well for me.  I've heard good things about Lebanon, given similar blue collar work in that area.

PM sent. Call me.

If you are wanting to sell to another investor, you need to have confidence in your numbers, calculations and comps, showing data points.  Forget zillow's estimate, you need to use real comps in determining ARV.

1. Are you confident it is cosmetic only? Given you live in California, I assume you flew into town or had someone else do a rehab estimate for you?
2. How old is the house?
3. What characteristics of your comp are comparable to this house? Size, age, lot, etc?