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All Forum Posts by: Josue Soria

Josue Soria has started 2 posts and replied 5 times.

Post: trying to grow single family residential investments using BRRR

Josue Soria
Pro Member
Posted
  • Flipper/Rehabber
  • Posts 5
  • Votes 2
Quote from @Chris Seveney:

@Josue Soria

Yea interest rates are a real killer, but I'm just looking to use my heloc and hopefully pay it to zero. Using whatever cash flow I get from the BRRR to reserve for the property itself. In case of any damages or incidents, not looking to replace my W2 just yet. Just looking to move my real estate forward to hopefully pay off in the next 10 years

5 years ago this was extremely common. Today it will be very challenging as the rates on HELOC's will be very high.

Unless you perform the labor or get a screaming deal, your chances of getting all your money out will be challenging and it may end up being near 100% financing and thus little to no cash flow

Not saying it cannot be done but in high interest rate environment brrr makes it that much harder


Post: trying to grow single family residential investments using BRRR

Josue Soria
Pro Member
Posted
  • Flipper/Rehabber
  • Posts 5
  • Votes 2
Quote from @Joseph Bui:

I've tapped primary home equity through a HELOC and BRRRR then repaying it. Happy to share my experience if you want to connect.


 For sure I always wanted to try it out, and see if I can grow using this strategy. 

Post: trying to grow single family residential investments using BRRR

Josue Soria
Pro Member
Posted
  • Flipper/Rehabber
  • Posts 5
  • Votes 2

I have equity in my primary residence, and in my rental. Is there anyone who has tapped in the equity using HELOC, or any other form of lending to use the BRRR method ? Would like to get some advice, to in order to try to grow this year, thanks!

BTW im in East Texas investing in East Texas 

Post: Flipping Frank Adams Road Longview, TX

Josue Soria
Pro Member
Posted
  • Flipper/Rehabber
  • Posts 5
  • Votes 2

How did you find this deal ? Was it through wholesale?

Post: Second investment in the ETX area

Josue Soria
Pro Member
Posted
  • Flipper/Rehabber
  • Posts 5
  • Votes 2

Investment Info:

Single-family residence buy & hold investment in Gainesville.

Purchase price: $220,000
Cash invested: $7

Single family home positive cash flow

What made you interested in investing in this type of deal?

Buy hold investor, it’s a new build interest rates were at a all time low

How did you find this deal and how did you negotiate it?

New build so not much negotiating

How did you finance this deal?

FHA turned into conventional

How did you add value to the deal?

No value add

What was the outcome?

Income, and solid foundation for future investments

Lessons learned? Challenges?

Can’t let go of good tenants

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Lenders Allison crews is knowledgeable