Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Omar Butler

Omar Butler has started 5 posts and replied 9 times.

Hey Ronald, thanks for the feed back. I do have an LLC, to answer your question.

Makes sense! Thank you Will 

I will have have multiple properties under my belt soon thanks to bigger pockets! The only part where

I am confused, if I have multiple investors for example. A 300k project

and I have 6 different private investors, how do I distribute their

money back as well as interest and still receive profit?

I will have have multiple properties under my belt soon thanks to bigger pockets! The only part where I am confused, if I have multiple investors for example. A 300k project and I have 6 different private investors, how do I distribute their money back as well as interest and still receive profit? 

I have found a guy who is reliable but he is not licensed, will that be an issue? Also are they're any reliable/well trusted general contractors in the DMV area? 

Perfect example! Thank you, will get the book as well. 

Originally posted by @Nick B.:

Here is an example with numbers (an ideal best case scenario):

  • ARV: $175K
  • purchase price: $90K
  • closing costs (including HM interest): $10K
  • rehab: $25K
  • All-In cost: $90K+$10K+$20K = $125K
  • Hard money loan (70% of ARV): $122.5K
  • Out of pocket: $2500
  • Once the rehab is finished and the property is rented, refinance $122.5K into 30yr fixed
  • End result: $52.K captured equity with $2500 out of pocket.

The rent should be above $1300

Can someone please explain the BRRR strategy thoroughly. Fun fact, I will be using a hard money lender and the interest rate is 11%. Can someone please explain, so that I can make the right decisions when investing.

I am a little nervous, especially on the fact I will be doing the no-money down just borrowing from lenders. Any tips or advice?