All Forum Posts by: Kaveh Jafari

@Carolyn Morales Thanks for your post yes I would definitely be interested in that. I was actually going to make a cash offer for an off market deal in 32216 area yesterday that had just got on the list for less than an hour and it was taken before I could even make my offer. Apparently a very hot market there right now. I could barely just check the comps. It is hard to lock in the good deals in good areas. 

@Alyssa Dyer I cannot argue with you on that one. I wish I had the luxury of being able to invest for cash flow where I live so did not have to look somewhere else. Being able to invest where you live has its own benefits and potential extra income if you are managing your properties yourself. 

Thanks for your encouragement and yes having the construction management experience definitely helps with feeling much more comfortable doing just a $20-$40K rehab where I do not live. 

All the best with your future investments in OKC :)

@Mark Fries thanks Mark. I will definitely reach out to you once I have a property under my belt for repairs. 

@Alyssa Dyer Stable market even in downturns is definitely a good problem to have. I am currently looking in Jacksonville Florida. Even though prices over there are already inflated but they are still affordable and, there are a lot of inventories that I could dream of where I currently live. It just takes the right person to lock in a good deal. I wish I was closer to Jacksonville as I would feel much more comfortable taking over properties that need major rehabs especially near DT. Have you thought about OOS investments? If BRRRR does not work in your market or does not make sense it definitely worth looking in to it somewhere else. where it is possible.

@Alyssa Dyer thanks so much for the input and your thoughts. I agree 100% with what you said. I think sticking with BRRRR strategy and instead doing a smaller deal where I can learn the process sounds better than having 100% my cash stuck in a new rental that is purchased the traditional way.

I am in construction management so i totally understand and agree that costs do not often stay where you estimated them to be. I am planning to include at least a 10% contingency for any unforseen changed in my repair costs to make it just a bit safer.

Again thanks for your response. 

I am in the middle of my search for locking in my first OOS BRRRR deal and the idea of buying my very first cash flowing OOS investment the traditional way struck me just couple days ago. I think that would give me the chance to learn the market and find/get to know my OOS team members better before diving in with BRRRR strategy.

Having said that I am planning to buy something that does need some minor work so I can start building a relationship with a contractor and something cheaper that does not eat up all the cash I have been saving up for my first BRRRR. I know this is a step back and I will have some of my own money locked in my first deal but it makes me feel more comfortable with moving forward with my first OOS deal.

I want to know what your thoughts are and if you think this is unnecessary and I should just focus on doing a BRRRR.

Thanks,

Hi BP folks,

I was wondering if any of you out there know about or have worked with a lending company that offers personal loans in the range of $50k-$100k over 6-7 years with withdrawal option to avoid paying extra interest and only pay interest on the open balance.

Thanks,

@Jonathan R McLaughlin really good advice, you are right. You never know what is going to happen 10 years down the line. I will keep shopping to see what I can lock in for 30-year fixed loans. Thanks again

@Dennis M. Thanks for your advice. I am only shopping around and came across this offer through a credit union and it was interesting. I agree with the risk of refi in 10 years from now. I will keep looking and comparing them so hopefully can find the best deal out there for me. Thanks again

@Bill B. Thanks Bill. Really helpful. Appreciate your input and good advice. I will take all those in to consideration before selecting my loan.