All Forum Posts by: Justin S.

Very helpful, thank you both!

Hey all. My question for today is this: what is the best way to learn how to analyze deals? 

I see people emphasizing the importance of the deal analysis all the time (especially on the podcast). I know the site has the calculators for us to use, but I want to learn the how and why behind the various categories so that I have the knowledge of what to look for myself. 

I want to avoid complacency and begin "cleaning my truck" (as one podcast guest related taking action steps to) and that for me is to practice analyzing deals. So whats the best way? Is there a step by step guide out there, should I network with other investors and learn from them, or is there another way to learn that im simply overlooking? 

Thank you in advance for all of your help and input!

Cheers,

Justin

Thank you gentlemen for your responses! This site truly is a wealth of information. I'm glad I posted! 

I definitely have some more to learn about BRRRR and refinancing. It appears my best option may be just to finish my project list and rent it out. I've been told I can get approx. $2300-2500 / month for a 3BR 2BA house in my area, and with my mortgage currently less than $1800 it may be my best bet.

Hey everyone. I have a question/situation that I'm hoping I can get some guidance with. 

I bought my house in 2015, with the intent of one day turning it into an income property. I put 20% down to avoid PMI, with the help of some family assistance. The house had been renovated before I bought it (bathrooms and kitchens), and when I moved in I replaced the roof, put up a shed, and fenced in the yard. I have other projects that I intend to complete still as well.

I am getting married in November and promised my fiance that I would focus on RE education until then...My question is, is it too late to BRRRR this property and use the funds to repay my family member/potentially buy my next income property after I get married? I think I know how the BRRRR Method works, but I'm not sure how it applies to my situation. I may be totally off as well!

Any and all assistance is greatly appreciated. I hope to meet some biggerpockets members at the Long Island REIA meeting April 10th! Thanks all!

Best, Justin