All Forum Posts by: Kimberly McCall

@Tom S.

I’m sorry $4K gross monthly. $2k per side.

@Tom S.

Yes I know this is definitely not a deal I would look at as far as our fix and flips LOL

The seller had it listed forever for $575k and just dropped it to $500k.

Yes the rents would be $4k per side. But if we lived in one yah it still doesn’t make sense... maybe if we didn’t move in and collected $4k a month it would?

The ARV the listing agent thinks would be $600k after finishing the basement.

Construction is the only thing we have a grasp on but I want to break into passive income!

We wanted to get out of the rat race but it seems we are rat racing from flip to flip....

@Kevin Romines that helps tremendously! Thank you!

@Matt Hurley

Yes!! Good! I'll get comps for ARV.

We have been flipping houses and go the construction side ready, it’s the financing I am unsure of.

And for this first one yes, I would like for it to cover our living expenses and not necessarily have to cash flow. Although, the same seller has another duplex just like this right next to it.... but if I’m unsure of how to make 500k work, I’m definitely insecure about 1m.

@Whitney Bowling

Yes partnering. I definitely want to go that! I will keep practicing running numbers on the BRRRR Calculator to present to a partner.

Otherwise I don’t know how to include a partner...

@Chad Kenerson

I’m from Spokane. Looking to buy and hold as well. I only have a few flips under my belt but looking to network!

I’m watching a property that is up for sale. $500k duplex. 3bd/2ba per side close to a good college campus.

I spoke with the listing agent and he said the basement is unfinished and if completed to a 5bd/3 or 4bath that the rents could easily be $2k month. The listing agent is also a property manager so he mentioned he has a property that he manages a 4bd for $2500 a month to 4 college students.

My goal is to get in and live on one side and finish the basement and then the next door basement to increase rents.

The seller is willing to do “some” owner finance.

I cannot borrow from a traditional lender at this moment so I’ll probably have to go hard money but after a year seasoning I’m hoping to refinance.

I’ve never done a seller finance.

How can I make this deal work?

@Kerry Baird I do feel like we have a good relationship but maybe he has a certain number of deals to complete before he lowers his rate? But still willing to ask LOL the worst he can say is no :)

@Timothy Hero good to know! I’m going back to this lender with this knowledge and ask him to reconsider or keep on moving.

@Joe P. Not available for a HELOC at the moment. But I'll definitely keep that in mind for future.