All Forum Posts by: Kunle Akangbe

@Olivia Radziszewski I mean buyer’s agent not seller’s.

@Olivia Radziszewski You can find and select the seller’s agent you would like to represent you. You don’t have to use the first agent that contacts you or the agent assigned to you. Being that you’re not to familiar with the process, it’s in your best interest to use a seller’s agent. He/She will help you understand the home buying process and navigate all the paperwork involved.

“If you’re shopping for a new mortgage loan, the multiple inquiries are generally counted as one inquiry for a given period of time. The period of time may vary depending on the credit scoring model used, but it's typically from 14 to 45 days. This allows you to check different lenders and find out the best loan terms for you.

All new mortgage loan inquiries will show on your credit report; however, only one of the inquiries within a specified window of time will impact your credit score.”

Wow this is incredible! Great work!

Who's your lender?

@Dan Falcon thanks for getting back to me. Congrats once again!

@Dan Falcon This honestly very inspiring. How did you find out the ARV before the purchase? Was the ARV , after BRRRR, higher,lower or the same as you estimated?

@Kevin Sha which property pays the mortgage? The same property you BRRRR'd. Usually your new mortgage after you refinance will be a 15 or 30 year mortgage which would make your monthly payment relatively low. If your property cash flows, you should have enough to pay for that mortgage and other expenses and still make some money.

If you’re referring to the closing cost associated with refinancing - you would probably have to include that in your initial budget.

@Kevin Sha I recommend you read the book BRRRR by David Greene. You buy using borrowed money, rehab the property, rent it out, refinance after 6 months and repeat the process. In a successful BRRRR, your refinance allows you to pull out at least all the money you borrowed so you can pay it back. Sometimes you are able to pull out more than you borrowed which means you're actually paid for doing the BRRRR.

Note: Delayed financing is also an option

@Kelsi Dockins congrats on taking the big step! Many more to come

@Jason Burr wow, thank you