All Forum Posts by: Nancy Stark

Do you think it be more difficult to refinance a BRRRR six months from now? Do lenders reduce the LTV percentage in a depressed economy? This will be my first BRRRR using a cash-out refi but I don't want to be stuck unable to refinance when the time comes (I have no other debt and my credit is excellent).

Hey Desmond, 

I would highly recommend America's Choice title in Ponte Vedra Beach. My husband is a realtor and I am an investor and we have been happy with them (and their attorney Chad) every time.

Thank you @Whitney Hutten, that makes sense now. Thanks for explaining. I see where my thought process was off, so your explanation was helpful.

If I am using my HELOC at 4.01% interest to purchase a SFH outright, how do I use the BRRRR calculator?

When I use the Rental Property calculator, the numbers make sense, but when I use the same figures in the BRRRR calculator, it shows no cash flow and a low cash-on-cash ROI.

Example:

Purchase Price = $100K

Rehab = $30K

ARV = $200K

Rent = $1250/mth

using a $130K HELOC @ 4%

I am getting a negative cash flow, with a Inf% ROI w/ the BRRRR method. What am I doing wrong?

@Jack Bobeck You are right about it being hard to find a female mentor. I have tried reaching out to several and no one has responded. So I REALLY appreciate everyone who has posted on this thread. Also, @Lesley Resnick has already reached out to me, which speaks to her efficiency. Thanks!

@Brendan F. Nagle - Thank you, I think you are right. What other books would you recommend? Outside of BP books, I have read Rich Dad (of course), and some mindset books like Think & Grow Rich, but if there are specific business/real estate books you recommend, I am all ears. 

Hi, "I am a real estate investor (who hasn't done any real estate transactions) and part-time PA (physician assoc).

I have an $85K HELOC and $10K cash and would like to invest in a Class C SFH in Jacksonville, FL. I have read many BP books, listened to podcasts, watched webinars, videos, etc. Most advise to associate yourself with the people you want to become, but I currently don't know any full-time investors. When I read these posts, I realize how much I don't know. I also realize you learn best by trial and error (hopefully it's not a very expensive error). Would you recommend finding a partner/mentor first (and if so, how do I go about doing that and not getting taken advantage of due to my lack of knowledge) -or- just going for it with what I have learned on my own?

Hi Brett, I apologize I didn't see that you responded. I attended an REI group (before COVID) but didn't feel comfortable asking at the time. I'm not afraid to ask, I just wasn't sure if it was appropriate. Do you believe it's safe to show other investors the deals I am considering to see if I am analyzing them correctly?

I've been analyzing properties, read/listen to multiple books daily, listen to podcasts, etc., but I know that true learning happens with action. Unfortunately, I am not convinced I'm analyzing properties accurately; therefore, I am hesitant to make offers. I work part-time as a physician assistant so my knowledge base is medicine, not real estate. How do I find a mentor who is willing to teach me when I don't have much to offer in return?