All Forum Posts by: Kiera Underwood

@Michael Thach laid it all out perfectly!! Wonderful comment. The lenders I work with require you live in the property for a year when it's owner occupied, but overall this is a great plan. 

I'd buy a duplex that I'd move into so I could only put 3.5% down and have tenants help you pay your mortgage. I'd keep some of it for cash reserves & upgrades. Could the numbers work out there for this strategy to lower your cost of living? If so I'd save whatever you're lowering your cost of living by and do it again in a year. 

@Jeremy Pelle

@Dan Raphael when you say you plan to travel to do rehab do you mean you'll do the rehab yourself? 

@Joaquin M Dugan Jr we did connect! I'm not saying it's a market you shouldn't consider. TONS of investors are happy with Memphis. Was just pointing out what an investor I had recently spoke with mentioned. 

@Jan H. I was talking with a investor recently that was in Memphis when we talked. She flew in to meet a prominent turnkey provider and was surprised by the location of the inventory. I think there's a lot to un-pack there and there's pros and cons in every area, my hope is that providers in Memphis are being transparent about what area they're buying in and what those pros and cons are! 

@Victor Fu the taxes make me nervous about Texas. Any development since you posted? 

@Besnik Kadriu I love the advice of both investors below. If you buy a home to move into that will lower your cost of living you could potentially lower your cost of living. You can do this each year with only 5% down, so it could be a lower cost way to get some properties, however with you being in Boston out of state investing is likely the way to go! 

@Gabriel Rodriguez Congrats on your first couple of deals! I totally understand wanting to learn a bit more. BRRRR is a big jump though!

@Jeffrey R. White What market are you in? The numbers likely vary by location and of course by property! 

In OKC I factor..

Repairs - 3-10% depending on property. 3% is new construction and 10% is rough. 

Vacancy - 5% 

Cap Ex - 5% - I don't plug this into my numbers. I keep 6-8k per per property in cash reserves. 

Management Fees- 10% - you get what you pay for! 

@Toure Brady he invests out of state, but you could reach out to @Jose Pena he's in the San Diego area and one of my favorite investors that I've worked with!