All Forum Posts by: Account Closed

Hi all, I'm looking for rental investment opportunities, in the near future. Just in general, what areas are better to search; an area with a high number of rentals on the market or a low to nothing on the market? Thanks!

Bastrop is right down the road. That's cool! This market is nuts here. My agent told me last week someone offered $50k over asking price on SFH. Tech is definitely moving out here. :) Thanks for all your input. I hope I don't get analysis paralysis. So much info to take in.

Do the Hard money loans wrap into the refi loan? Or do you pay the hard money loans on top of the Refi loan? Sounds like you have a great credit union. Is that a portfolio loan or cash-out loan? 

Thanks, Johnny. That makes perfect sense. What type of loans did you use for the Acquisition/Rehab? 

This summer I'll be selling my home and moving into a new construction. The home I'm in is paid in full, so I'll be collecting the full amount of equity; about $225,000. I have a buyer lined up already and my new construction is on par to be done on time. I plan on using that capital to start BRRRR investing to build cash flow. My question is, should I tie up a chunk of my personal capital to pay acquisition/rehab or should I use loans to cover the costs? Thanks for reading :)

@Lydia S.

So, I agree with you that someone should get compensated for the work they do, however, I'm coming to them with the deal, in this instance. I'm actually doing all the work. Unfortunately, I don't have a RE license, but I still need representation, I believe.

My realtor want's me to sign a Buyer's agreement before I purchase our house. I plan on buying more property and renting out, soon. Does the lease commission seem high? Or is that a typical payment?

Thanks!

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Hi all, I thought I could get some insight from everyone to see if this looks like a good deal. First off, this house is the house I currently live in and is fully paid off. My wife and I are looking to move out of this house into a new house. The old house will be turned into a rental that we BRRRR, and the new house will be on a Convential Loan with 20% down. Right now, the new house looks like we can get P&I for $1000/mon on a $300K mortgage. 

The purpose of this plan is too get more capital to invest in more BRRRR properties. Right now, we have about $80k of capital sitting in the bank account for the 20% down payment and rehab to the old house. With this idea, we would be able to pull 130-150k from the equity, using a portfolio loan or Home Equity Loan. The downside is we would have to start paying a mortgage again(1000/mon for the new house). The upside we would be that we could afford more housing(acquisition+rehab) with the capital we pull out. 

I'm going back and forth with this, and can't seem to come to terms with it, yet. Would it be better to stay in the old house, save the $1000/mon, and try to find properties to BRRRR with the $80k? Or, would if be better to buy a new house and BRRRR the old house?

I'm sure there's plenty of other variables and "what ifs" I'm missing, but just looking at the numbers, what do you all think? Thanks for reading!!

@Andrew Postell

Thanks, Andrew. I will look into that.

@Russell Brazil

Thanks, Russell!