All Forum Posts by: Michael Barnhart

@AJ Smith, could you elaborate on your price/sq ft estimate? Just curious for my own calculations. Where did you get this from and what are the numbers for a "light" and "medium" rehab. How close are these numbers when you actually get a quote from contractors? Thanks!

@Lisanne C. You could just use your HELOC, depending on how much equity you have, to fund the purchase and rehab of a BRRRR. It will be a lot cheaper than paying interest on hard or private money. I think interests rates for HELOCs are below 4% right now in several areas. Check with your mortgage broker.

I would run it through the BP calculator to be sure you accounted for everything and you can adjust your down payment and see how this impacts your CoC ROI. The CoC ROI right now seems pretty low but it depends on what your goal is. A solid CoC ROI for me is around 12% but this will be different for every market.

@Cedrick Mahieux this is awesome, thank you!

@Jonathan Greene awesome, thank you!

@Lauren Goetz, all the strategies you mentioned are solid. That's surprising no of them worked... Keep us updated on what ends up happening or how you get them out! Best of luck!

@Tanner Singletary, thanks for your hard work putting this all together. This is really cool!

If your state is allowing it, file for eviction. You are running a business not a charity. Don't let them walk all over you just because they are leaving!

@Gabriel Garcia by taking a quick look the cashflow is not terrible but for me I tend to aim for a CoC ROI of at least 10-12%. I would keep looking to see if you can find a better way to put $106k into a deal or several deals where you get a better return for your money. Good luck!

@Greg H. could you elaborate, I would love to learn the rules about HUD properties. Thanks!