All Forum Posts by: Nicholas Hariprasad

Hey guys I'm taking a dive into the creative finance game. There's a lot to uncover and lots to learn. For the BRRRR method, you would normally buy properties at a discount then rehab to force value. When buying a property using seller finance, would it make sense to lowball so I can refi out after repairs are done or would you recommend buying at a retail value where the seller is comfortable at and play the waiting game to refi as the property appreciates. Also how would I go about acquiring a subject to property. If the owner has no equity I would have to use my money for renovations to get it to market standard… correct ??? The main point of subject to is to avoid the banks and get a lower interest rate, correct ?? I'm still a bit confused on this concept. Any help or advice would be greatly appreciated!!!

Hey guys, my dad had opened an LLC a few years back in 2021. We had opened the LLC in the state of PA. Can I use this same LLC in other states like Cleveland, Indiana .... An upcoming payment is due. The business will become inactive if we dont pay it. But what happens to the properties that are inside that LLC ? Just wondering. Any help is appreciated.

Hey man thanks for the reply. I'm on 21 living in NY. Everything around me is 850k minimum. 70k even if I went the FHA route in a decent neighborhood. I can wait a couple years and try to save as much capital to go for one deal. But even then it's hard to cash flow in NY. I think I would get a better return if I start scaling smaller properties until the cash flow snowballs.

Hey guys this would be my first time attempting the BRRRR strategy. Super nervous but excited. I'm not sure if it's my market but I'm struggling to find fixer upper deals. I'm only looking on the MLS currently. I feel like every fixer upper I do run into is priced so much higher then what it's actually worth. Is this normal on the MLS ? How do I get to that next step? I'm also an out of state investor so I depend on my agents to find the deals for me. Should I look into pre foreclosures ? How can I obtain off market deals out of state ?? Any help would be greatly appreciated.

Hey guys, I'm a fairly new investor and I'm looking to purchase 2 properties. I was told that if you wanted to put your property under an LLC, you would have to go through a commercial loan… although these are residential properties. How do all the investors get their properties into an LLC. I learned what a quitclaim deed and it does sound quite a bit risky because of the "do on sale clause". I also heard that there are some insurance policies like the umbrella policy which would offer the same thing an LLC would offer but instead it would still be in your personal name. What are your thoughts on this ? Any help would be greatly appreciated

Hey everyone, I'm in the mix of purchasing my first rental property. I was thinking of putting my property under an LLC. Although my lender told me that it would change my conventional loan to a commercial loan which gives higher rates and shorter terms. It doesn't make sense to me because I have never heard anyone have this problem. Is this normal ? Or what If I purchase the property under my name and then transfer it into an LLC a couple months later ? How do the big investors do it ?? Thanks for any feedback

Hey BiggerPockets fam !! I really want to get into the RS scene. I'm an eager 19yr old looking to purchase my first property. I've been addicted to the idea of BRRRR but it's very hard to find distressed properties that need rehab in my market. I'm thinking... what if I find a new already renovated house... put 20% down and let's say that house goes up in value over the years and then I cash out refinance. Isn't that the same as the BRRR method but the only difference is that I'm not getting my cash back right away ? Or should I stay on the search for distressed properties ? any help is appreciated, thanks

Thanks a lot of this advice. Appreciate it Trevor !

Hey guys I've been looking into getting into RS. I have learned SO MUCH just these past 2 weeks. I plan on using the BRRRR strategy. I also plan on long distance investing since I live in New York where houses are worth over 1mil. I have a brief understanding of everything although I SUCK AT FINDING DEALS!! So this just leaves me with one question. I know a RS agent job is to send offers and run CMAs but can I make it to where they are sending deals to me... or am I just being lazy and need to learn more about finding distressed properties....

I know I said I had only one question but if any of you know about long distance RS investing and BRRRR.. how do I communicate to contractors on what I want done to the house. Through a video call ? Or should I take a flight ??? Any help is appreciated!!