All Forum Posts by: Kristi Wolfe

My husband, brother, and I are in the beginning stages of BRRRRing. Assembling our team, getting preapproved, running numbers on deals, etc. it all sounds so wonderful! Tell us your BRRRR fail story. I want to learn what pitfalls to avoid. Thanks in advance!

I’m looking to assemble my team in the Lake County IL area. Step 1: rockstar agent who knows the investor mindset. Target: SF or small MF properties in far NW Chicago suburbs. Are you that agent? Do you know that agent? Thanks in advance!

@Bjorn Ahlblad Darn! I was hoping could squeeze a few more dollars in cash flow out of this! Well- at least the new exterior pictures in advertising for the property might help find a tenant quickly!

Cha-ching! We have a rental property- a townhome. We rehabbed the interior, and we just got a letter from the HOA indicating that we're getting a new roof and siding- paid for in full by insurance! Work is being done in late spring, current tenant is moving out in July. Can we expect to get more in rent with these exterior improvements? (We're pretty new at this still)

Thanks!

As s future BRRRR investor, I'm brainstorming on how to get good deals into my funnel. The idea of finding a house flipper came up. Since I will be doing BRRRR, my price to acquire a deal can be a smidge higher than a house flipper might be able to pay- right? So if I could get a local flipper to give me his/her "almost but not quite" leftovers, I could have a good deal going. But- what can I do for a flipper in order to establish a mutually beneficial relationship?

I have heard (from a hard money lender, so he is motivated to encourage me to borrow hard money) that it's much easier to get the refinance at the end of a BRRRR deal if the property is finanaced for the purchase vs using cash to purchase and rehab a property. David Greene's BRRRR book and other things that I've read say cash works just fine, as long as you make sure to get your preapproval for the refi before entering into a deal to make sure your exit strategy is in place. Assuming I have the cash, and the plan is to get that cash right back out in a few months, I'd rather save the headache, closing costs, and interest rate associated with a hard money loan, but not if that means I cannot refinance.

Can anyone weigh in on this?

@Jennifer Pauyo. I think women (more than men) believe investing in real estate is too risky. Men tend to be taught at a young age that risk taking is a positive thing, and the reverse for how women grow up. That’s why I personally believe there aren’t more women here. *shrug*.

Newbie here. Have 1 rental property (originally my husband's primary residence). Looking to buy a SF or duplex in Milwaukee Have a property in mind- asking price is $59K. Credit in 700s, plenty of reserves in retirement accounts to cover 2x purchase price. The plan is to BRRR.

Any lenders out there that would be a good fit?

@Kurt Deutschmann

@Joe Villeneuve- how can I use actual numbers when I haven’t seen the property?  Shouldn’t I be doing preliminary analyses at home looking at potential deals, then if the deal looks good on paper, then go out to look at it?  Seems like a stupid question but am I going to physically be looking at 1-2 properties per day to find a good deal?