All Forum Posts by: Nicholas L.

@Ryan Ramola

i hear you, but being in person and hands-on is an advantage too.  there really isn't 'cash flow' anywhere right now with interest rates where they are - you are just not going to find cash flow in B-class neighborhoods with conventional debt.  deals right now take creativity and so you're limited when you're 10 hours away.

have you tried looking off market for deals in Oxford or in the surrounding area?

@Ryan Ramola

why not stay local?

@Robin Castillo

i would not partner - these types of properties are too small to support multiple investors

just house hack separately

good luck

@Emily B.

standard disclaimer / caution that you shouldn't go through with this if it will strain you financially just to "do a deal." 

i guess here are some miscellaneous thoughts on what you proposed as the options

1. a securities backed loan - is that something backed by your stock portfolio? i don't see how this could possibly have better terms than a DSCR loan.

2. definitely do not do this... cannot possible be worth liquidating your stocks, paying capital gains, etc.

3. it won't make sense to "refinance in 6 months" unless you've significantly improved the value of the property. going from DSCR to conventional just to save 1% won't be worth the closing costs you would pay.

is this on market or off?  is there the opportunity for value add, or are you just buying hoping to be able to increase rents?  it will likely still be valued based on comps in the future so even if you get fantastic MTR rents that won't help you on a refinance, especially if you're paying retail / market on the purchase...

hope this helps you think through it

@Brian Travis

hello.  i'm not sure if a 'mentor' is what you need.  

are you going to be able to travel to Indianapolis in person to select your properties and supervise your BRRRRs? 

if not, i don't know if this is the best strategy.  the way to get accurate rehab estimates is to come to Indianapolis in person, meet with GCs and get actual quotes.   you're just not going to be able to Internet this.

out of state / out of country BRRRR is a difficult, high risk strategy.

hope this helps.

@Monique Kamaria Chheda

I know this isn't the answer you want, but if you don't have much time, don't want to take on much risk, and only have $25K... I don't know that there is a slam dunk option.  You could look into REITs / index funds.  But that assumes you are in this for the long term and are OK with the usual market volatility.

@Nicholas Pool

hello. yes, nothing traditional - an LTR with conventional debt - cash flows right now.  not in NC, not really anywhere.

i'm looking for either BRRRR or seller finance, and I'll break even month to month if i can leave minimal cash in each deal. both of those are very tough as well.

@Vincent Chiarelli

can you stay within a couple hours of where you live, so you can do things and see things in person, rather than thousands of miles away where you'll be really dependent on others?  

and, your questions are good but they're really broad - anything more specific?

@Nam Nguyen

why not just look locally for a smart CPA?  REPS status is about following the IRS guidelines.  you need a CPA who specializes in real estate.  

@Xavier Robinson

hello - start with a house hack

if you don't have enough money yet, save up until you do

a lender can tell you how much you will need

good luck