All Forum Posts by: Michael Acevedo

@Matthew Nicklin

Thank you Matthew.

Seeking transactional lender in the Atlanta area that can assist with double closings. Let's Network.

@Nicole Contreras

Check out “wholesaling out of the box”, great resource for me in Hampton Roads. They also have a Facebook group called “Virginia Wholesale Real Estate” every Sunday at 5pm EST they have a ask anything wholesaling zoom call with a very experienced wholesaler here in Hampton Roads.

@Patrick Froehlich

Generational wealth is my goal. Although I am very young. If I was older, I would want to leave a real estate business that operates after my time. So I don’t think much of that time but more of what can I leave behind for my children to continue and grow. Getting started is all it takes. No matter what age.

@Joe S.

Not sure if Mississippi is a war zone but I was down in Meridian for a family visit and there were pretty cheap SFH, a lot of them. Appreciation seems horrible, not sure what the rent goes for in that market, but worth a look. I know they have a naval air station in Meridian as well.

@Clint Sams

Network, Go to Local Meet ups, and make sure you have a VET process for your buyers and have them provide a POF if you have a property under contract so you don't get people who waste your time.

@Lee Ripma

Thank you so much Lee, very helpful. I appreciate you getting back to me. Enjoy your day and stay safe!

@Lee Ripma

Thank you so much for clarifying that for me Lee. I had a hard time wondering if I can utilize the BRRRR method with an FHA loan. Since it cannot be utilized through FHA, can it be utilized through a conventional loan? Or cash and Hard money lenders and creative financing strategies are the only way?

Hello Everybody!

I am having trouble one on part of the BRRRR Method. In the buying process. Does the property have to be bought cash? And rehab as well? Or can I finance the property through an FHA, live in it, put some sweat equity in, after a year, rent it out for six months then re-finance? Is this still considered a BRRRR? Or will the Loan to Value affect me in the refinance process? And if so, is it possible to bring that loan to value to meet the lenders criteria through the sweat equity I put in? And the year and a half the mortgage was being paid down plus the 5% initial down payment or is there a slim chance of getting that loan to value to refinance using this method?

@Ian Shinnick

Thank you Ian, I’ve also heard if you do not provide flood insurance and you have a property on a mortgage, the bank will automatically provide flood insurance at the rates they receive which are much lower I’ve heard and they just charge it to you, but I am very skeptical as to using that method because I do not know everything of it and how it will effect the relationship with the Lender. I may just search providers that can provide me with the private market flood insurance y’all speak of.

Thank you so much!