All Forum Posts by: Mike Leising

Hi guys, 

A quick question on the BRRRR strategy. Most of the time when I hear about this strategy, at the "Buying" stage, they always suggest to buy a property with cash and then Refinance after the Rehab. Am I missing something or is there any reason I couldn't buy a single family home with a 30 year mortgage during the buying stage, then Rehab, wait a year (or however long) then Refinance?

I realize that most of the time buying in cash is ideal, but is there anything wrong with getting a 30 year mortgage and doing the BRRRR strategy?

Thanks!

Mike

Hello,

I am new to the Real Estate investing world. How much should I compensate a wholesaler for bringing us a property?  The wholesaler has brought us a duplex and the number look very favorable. 

Thanks,

Mike

Hi!  I wanted to test everyone's knowledge and get your opinion. 

Myself and 2 investment partners have been looking like crazy to find a deal.  We are basically newbies but have dove in head first the past few months and learned a ton.  We have made a handful of offers on single families and duplexes when the numbers make sense, but haven't had any go through yet.  

There are a couple 6 plexes that we might have access to before anyone else, but I have heard 6 plexes are a bit different. For example, I believe anything more than a 4 plex is considered a commercial property? What are the pros and cons of that? Does that just mean we have to put it under a LLC? Are we diving in too quickly to go after a 6 plex instead of a single family or duplex first to get our feet wet? I have so many more questions, but we figured we would start here to get everyone's opinion. Thank you for your thoughts!

Did you try the bigger pockets calculators?  under the "tools" menu. 

Thank you for your input!  Its clear i need to keep learning. 

Hi everyone,

A new pro member here.  I am on the verge of my first deal but am not feeling all that confident.  I have listened to almost all of the podcasts and am starting to read books on real estate investing, but until that first deal is done, I don't think I am going to feel confident.  I am really close to pulling the trigger on a duplex that I have analyzed in the below report, but I am still not sure.  Its in a good area of town, near a college, and I would assume a bit of appreciation over the years.  I am hoping someone smarter than me in the room (AKA the bigger pockets forums) can tell me if this is a decent deal to get started with or not just based on the numbers.  I am all about just jumping in and I don't need to make $1k per month on this one, but I also just don't want to have a bad experience for this first one.   Thank you!

View report

*This link comes directly from our calculators, based on information input by the member who posted.