All Forum Posts by: Ken B.

@Will M Bunch

Thank You Will, Really if you get the right numbers a private loan is where you want to be. Also if you BRRRR a SFR and you say find a 2/1 thats at least 1100 sf turn it into a 3/2 and add 25k to your ARV and now you get your investment back plus an extra. 4 or 5 investments like that and now you have cash to purchase and no more loans.

@Andrew Rushing

Stay pumped you are absolutely on track for an awesome future.

@Andrew Rushing

I have a similar story and both of fall into the 99% group. You've already nailed it because you recognized BRRRR. I love BRRRR and in my opinion if you master BRRRR your a Black Belt smart investor. Book written by David Green and to me David's a celeb as is Brandon. He David sent me a message a couple days ago. I felt like a kid again as it just added to my excitement for this business.

Two other books Jay Scotts (ESTIMATING REHAB COSTS) and Brandon Turners (MANAGING RENTAL PROPERTIES) do the trick for me. Also, RENTAL PROPERTY INVESTING by Brandon. 

Your on your way to success!  

@Will M Bunch

Hi Will,

   This is a great question Will, and I'm all over it. First and absolutely most important to me, Thank You for your service, Thank You. I'm Vietnam from 1965 and would do it again if I could move.

Okay, 1st I assume your referring to a (HML) hard money loan. Please don't consider that unless your positive it'll work. I recommend finding your property at 60/70% of ARV ( after repair value). Then find a private money loan on BP (biggerpockets). At 60/70 % you'll absolutely find the loan there.

Being as involved with the VA as I am and knowing what they allow you'll have no trouble converting to a VA loan (after completion). In this situation you have the ball in your park. You also could use an FHA (federal housing administration) loan at 3.5% which will wrap the rehab into the loan. Use the calculators to be sure you end up living free and possibly get 300-500 positive cash flow. I know this is tight but worst or best case your living free and your property value goes up and your tenants pay your loan.

    Will, I hope that this helps a little. 

@Travis Moe

Absolutely

@Travis Moe,

Look forward to attending the meeting. Will bring my wife Deb if its okay. Sounds like I'll learn from this and hopefully will be able to contribute as well. Thank You!

@Travis Moe,

Hi Travis, what general discussions do you have. Any regarding BRRRR approach, etc.

@Kien Gallwey-Grant

So sorry about your GC in Philly. I'm a huge fan of @Andresa Guidelli and she brings good energy to all of us. I even got a reply from David Green and he got me to join IG (Instagram). Continued success to you. 

@Trevor Schuler

No money needed if you buy right. Just need to sell it to a private investor on biggerpockets

@Jenner Birukow,

    Memphis is a great location and the people are very friendly. Used to go there after college when I worked for dept. of the army via pentagon (many years ago) as a programmer/analyst.

BRRRR by far is my favorite approach and will serve you well in Memphis.