All Forum Posts by: Logan Pettigrew

@Minna Reid thanks, I just noticed that sometime it is listed in the description and you can’t filter it. I will reach out to my agent.

Thanks

Is there a trick to searching realtor or Zillow for short sale opportunities?

@Tyler Hill a house down the street sold for 160k. It was the exact same house. I actually knew the buyer. It was on a smaller lot, gravel drive way and no garage entry from the house.

I think we were being conservative on the ARV. It might catch more. That is why I really like your idea of a line of credit. That is very smart.

@Marshall White thanks for the insight. That is a great strategy. I like the idea of kind doing a hybrid refi.

I am refi'ing in my name then transferring to an LLC. Any idea what kind of taxes I may have to pay, if any?

Thanks for the feedback,

Logan

I am Almost done with my first BRRRR.....

I BOUGHT a 3/1 for 50K...Put 45k into it and now it’s worth about 160k....

I got a two year lease for $1350. I can barrow up to 120k against it.

Couple Questions:

How much equity should I pull out?

What kinds of questions should I ask my bank?

Thanks,

Logan

@Matt Brown thanks Matt....Great point!

@Berish Edelman thanks for the insight! I definitely feel like cashflow is the goal. so I guess I should try to rent the property and if I can’t get closer to 3k/month I will sell it to help with investing in Tampa.

Thanks again

What’s up BP Family! First time posting....

I live in a A-Class suburb of Cincinnati, OH (West Chester) and I am considering taking a job in Tampa Bay. With that said I am not sure if I should sell my house or rent it. I live in a desirable neighborhood with a great school district and property values are continuing to go up.

I bought my 5/2.5 house 4 years ago for 285k and it’s probably worth somewhere between 365k and 385k.

I have done some research and it looks like I could potentially rent it between $2500 to $3,000/month. After my mortgage and expenses I could possibly cashflow between $500 to $1000 a month.

The house is in fantastic condition and I don’t expect to much managing of the property from Florida if I place qualified tenants. Plus I have family around that can help with any serious or major issues.

Should I sell and take the 80k to 100k of profits or take my cashflow of $500 to $1000 a month?

Thanks in advance for any feedback!

Logan

@Andrej Petrovski how does liquidation work for your IRA? I keeping getting the same response about penalties and taxes?

Do you not have to pay back the account?