All Forum Posts by: Mathew Hilton

Beautiful rehab on your place! 

Yeah I'm planning on doing a cash out refi and the lender is asking me to quote a ballpark valuation but it's tough with such a wide range of values in the neighborhood. We'll see what the appraiser says.

So for the BRRRR method, when you do the cash out refi and pull all of your cash out (making a new loan to pay off the first), can't this ruin your cashflow?

Quick example numbers:

Purchase price= $70k, Rehab=$35k

ARV=$150k, cash out refi 70% LTV= 105k (100% money out)

First loan 20% down (14k) at 4% interest= $334/month mortgage

Second loan at 4% interest= $716/month mortgage

Am I missing something? I understand that you should expect to increase the rent after it's newly rehabbed, but do you essentially need to calculate not just the ARV beforehand but also the target after repair rent that you should be renting for to ensure that you can cash flow after the BRRRR?

Newbie here. Any Indianapolis locals have any perspective on some reasonable comps for 1820 Singleton St., Indianapolis, IN 46203?

https://www.realtor.com/realestateandhomes-detail/1820-Singleton-St_Indianapolis_IN_46203_M42462-65784

It's in Bates-Hendricks and the property values all around the neighborhood are super variable. How do you weight various factors in terms of importance when determining the most accurate comps (beds/baths, sq footage, quality of rehab)?

Any insight is appreciated--thanks!

@Joe Homs thanks for the tip! I'll definitely look into the local meet ups.

@Timothy Doenges I'll be finding out the employer and location likely tomorrow, my recruiter is going to let me know, but definitely! It'd be great to meet, I don't know anybody in WV.

My name is Mathew, I'm 25 years old and I am from Westminster, CA (SoCal). I found Bigger Pockets through my brother.

I am trying to learn more about property management, systems and essentially all of the work that relates to finding, acquiring and managing rentals. I recently graduated physical therapy school and I'm going to be working as a travel therapist. I'll be able to choose to work 3-6 month contracts in different parts of the US so I'm hoping to take advantage by working in different areas with promising rental markets. 

I'm interviewing for jobs in West Virginia and Texas to start in Feb 2018.

Looking forward to learning from and working with you all!