All Forum Posts by: Kurt McDowell

Numbers are no good, even before the rehab.  Try using the rent x50 rule of thumb, there are dozens of these rules, but I like this the best for me.  If it rents for $750 then the most you could purchase it for would be $37,500 minus the rehab costs.  So probably a 10k offer.  

Just make sure it cashflows, make the offer.  What are your numbers?  

What does it rent for?

You sound like a good candidate to buy turnkey, I recommend working with Clayton Morris or Jimmy Vreeland

I really like my lender, Visio Loans, I reccomend giving Missy a call. I am hesitant to post this because I have posted this many times at the risk of looking like a I get a kick back or something... I don't. I just really think they do it right for BRRRR investors who want to do more than a few a year and want more than 20. Terms are around 6% depending on a few things, but no tax statements required, etc., and no recourse / 30 year fixed! So contact Missy at:

Missy Hileman

Account Executive

Visio Lending | www.visiolending.com

PM me if you can't find her contact details online

I'm confused... use a spreadsheet like this one below and just do the numbers, focus on cashflow!:

https://www.dickenslawgroup.com/

1.  I  reccomend your first option, House Hack immediately, as long as you intend to live in the property for one year you are fine.

2.  Don't develop a team before buying, develop your team while you are buying.

3.  Get your license if you want to be a full time Real Estate Agent, and then focus.

Acquisition Price = (70% of ARV After Repair Value) - (Renovation Estimate + 20%)

Starting is the hardest part, try working for free for a local real estate investor and learning what they do