All Forum Posts by: Nicholas L.

@Chanel Bostic are you open to looking in the VA or MD suburbs, or do you want to stay in the city proper? If you're willing to move a ways out you may be able to find a SFH to house hack. But, this may not work for your commute (or may not be something you're interested in.) Figured I'd ask.

@Mallory Thompson got it, thanks for the clarification. I like the BRRR as well (assuming those numbers are based on comps.) The duplex ties up a lot of your cash.

@Mallory Thompson I have the same question as others in this post - BRRR is a strategy, while conventional financing is a type of financing, so it's comparing apples and oranges.  Are you saying you have enough cash to purchase the BRRR-able property in cash?  Or would you finance either purchase?  At the end of any BRRR, you still have a loan.  But let us know if we're not understanding correctly.  =)

@Account Closed seems like you need an attorney.

@Gerardo R Gonzalez did you sign an exclusivity agreement?

@Keith Shadle congrats and thanks for taking the time to post this.  I had a question on the choosing of this property.  You said "I purchased site unseen as photos were pretty good and I was tired of loosing out to other buyers or a highest and best situation."

So - based on the photos and the price - did you feel pretty good about this one compared to others you bid on and didn't get?  Was the purchase price reasonable?  Just wanted to see if you had any additional information about pulling the trigger on this specific property.  Thanks!

@DJ Brey can you do a rentback?  You buy and close now, and then they rent from you until they want to move out.  Work with an agent and an attorney.

@Austin V Nguyen is your rental estimate based on actual rental comps from a realtor? Or just what you'd like to rent it for?

And, have you qualified for financing?  A loan officer can you give a real closing work-up with your closing costs itemized.  It will likely be higher than $2000.

@Cody Ford are you paying PMI?

@Cody Ford what's the purpose of putting "extra" toward principle? You're consuming cash you could use for something else (unless you're paying PMI, and trying to get rid of the PMI.) Putting extra down doesn't pay off until the end of the loan.