All Forum Posts by: Michael Wallimann

Hey Brian, I'm an Albany native who lives out west nowadays. I've been recently looking at the Capital District and beyond a little bit to invest recently since most of my surrounding markets are very expensive. I'm curious as to what you think about that area at the moment?

I'm up in the San Juans where inventory is few and far between but rentals are desperately needed. The cash flow can be good but with the acquisition prices so high a lot of times they don't even come close to the 1% rule. Bellingham is definitely a busy rental market and with what I keep hearing about people from Seattle moving south to Tacoma it definitely seems like there could be quite a bit of opportunity there. I would look into Everett and Marysville as well where you might be able to get ahead of the game a little bit on Seattlelites migrating north.

Hello Bigger Pockets Community! I am a newbie who is getting closer and closer to my first deal. I am shopping small multi family residences at the moment. I have been approved for a HELOC which I will be using for my down payment. I am planning to use the BRRRR technique on the property. While I'm hoping my rehab will be done in 2-3 months I have just found out that in the area I am looking to invest I have to wait 6 months to refinance. Depending on the price decided upon after my offer is submitted this 6 month wait could cost me somewhere between $18-25,000 in interest on the HELOC. I'm curious if anyone has some advice on how to creatively offset the cost of the interest payment during this waiting period on the refinance?

Hello Bigger Pockets Community! I am a newbie who is getting closer and closer to my first deal. I am shopping small multi family residences at the moment. I have been approved for a HELOC which I will be using for my down payment. I am planning to use the BRRRR technique on the property. While I'm hoping my rehab will be done in 2-3 months I have just found out that in the area I am looking to invest I have to wait 6 months to refinance. Depending on the price decided upon after my offer is submitted this 6 month wait could cost me somewhere between $18-25,000 in interest on the HELOC. I'm curious if anyone has some advice on how to creatively offset the cost of the interest payment during this waiting period on the refinance?

This episode was so great! What an inspirational being. "Your friends are comfortable with your past, your mentors are comfortable with your future". Stay committed and creative BP community.

@Alexander Price Thanks for your feedback. Those are some of the things I was adjusting to try and make it work. I think I might have been too in love with the property which I know I shouldn't be. 

Hello BP community! I'm new to the family and I have been analyzing a deal on the calculators this evening. I've been unable to get my cash on cash ROI to a place I would like it to be. Does anyone have a suggestion of how/where I may be able to adjust calculations to get the cash on cash ROI to increase in a BRRR and/or buy and hold rental situation?