All Forum Posts by: Nicholas L.

@Taylor E. thanks for the insights.  It will be interesting to get the 2020 census data and see if Pittsburgh or Allegheny County are still declining in population.

@Dustin Dummer got it.  On the more expensive one you'd get the opportunity to screen and place one set of tenants yourself, on the less expensive one you'd be living with the tenants already in place.  Are there written leases in place with any, and do you have copies or know what they say?  And do you have 25% to put down plus reserves?  

@Dustin Dummer I could do the math... but what are the purchase prices of each?  Are any of the units occupied?  How are you going to finance them?

@Natalie Siedschlag some properties that make the best BRRRs are in such poor condition that conventional financing is not available. You are correct that it's possible - but how would putting in just $8K get you such a big boost in the ARV?

@Jonah Walker nothing is going to change overnight after inauguration.  There's no reason to "wait" for something big in the market to shift - just keep looking for a good deal.

@Diana Fernandez the best way is cash. All the others can work - you'll just have to run the numbers to include the financing costs, interest, etc. Remember that to BRRR you need to account for the purchase price, closing costs, rehab costs, holding costs, leasing costs, refinance costs... it's a lot more than the summaries make it seem like.

@JC Oakley welcome.  Do you rent or own your primary?  Do you have any cash saved up?  Are there any markets you're particularly interested in?  

I hear what you're saying about being hands-off - but a good property manager can make that the case for you, regardless of whether you buy through a turn-key company.

@Silvia Bimblich house hack.

@Ana Kudlack got it - great additional info. There are lots of threads in the forums about reserves and savings - check them out and see what you think. One rule of thumb is 6 months PITI as reserves. In other words - if you have $20,001 in your bank account, don't spend $20,000 on a down payment. =) I agree with others in this thread that you don't necessarily need a home run, you just need a solid investment. And you're NOT behind!

@Beth Meurer save up some cash.