All Forum Posts by: Justin Greene

I am currently in the middle of a BRRRR deal, but hitting a hold up on the Refinancing stage.

I currently have the house on a one year owner financed note with a balloon of 38k due in June and interest only payments until then.

The rehab is well underway, completion date is set for December 1st. The rehab will cost a total of 55k.

With initial closing costs, my all in will be about 100k. The conservative ARV will be 165k and rent will be 1300/month.

I have had a W2 job up until Monday (I was offered a promotion that I had to move for, and I turned it down as well as submitted my two week notice).

I have income through a W9 job, but there is very little history with it.

I was wondering if anyone had some creative solutions for cash out refinancing with my W2 income recently ending? I would ideally like to pull at least 90k put of the refinance to start my next BRRRR house.

Is the loan to asset ratio 160k/100k enough to go through semi traditional means on financing the deal?

Any advice would be appreciated!

My ultimatw goal is to

Hello!

My name is Justin and I am a new investor. I have one deal under my belt. I bought a foreclosed house in my college town directly after college. It ended up being a great flip and hoise hack. Ive owned tve house for three years, and had roomates for all but five months. I am lisitng asap and moving to KC to start getting serious about realestate.

I am moving there around August of this year, months away!

I'm heading there two weeks from now to look for houses. I am doing my analysis and am looking for some advice on rental prices, and neighborhoods to invest in. I am looking north of the river, and west of highway 169. It seems like these are the the older houses that are in my 100-150k price range!

There is a post laying out great neighborboods to invest in which I have studied, but I am looking for advice on house rental prices or any other kind of advice on where to buy, or any house deals!

Hello! I do not have a lot to contribute to the above question - though my family has rehabed a 119 year old farm house as their primary residence and ended up tearing down half the house because of structural issues related to the age. The rest of the house was built well, with the hardest wood ive ever had to drive a nail into. We lived in a mobile home on the farm while the rehab took place - originally the project was supposed to be 3 months and ended up taking 9 months due to the structural issues. So I support Lee in the idea that major checks are dually needed.

I was going to ask if Ryan had any experience with the market in KC. I am from south eastern Missouri and looking to buy a house in northern KC come June. Do you have any ideas on areas that should target for a BRRRR house? My price range is under 180k if that narrows it down at all for potential advice. Thank you in advance!