All Forum Posts by: Omar T Sharaf

@Kyle Spearin Thanks Kyle. through my current contract process, I keep referring back to all my literature and the forums. So much value. Appreciate your feedback. 

@Jamie Piecora Hi Jamie, It is a tough market to find solid deals, especially with limited data to use. But I was able to find a deal that I have under contract im working on closing on here soon. Its a BRRRR property. It took some searching and a bit of luck but I managed to get one. Im still just keeping an eye on what comes about. But like any market you just have to research it and see what works.

@Jaysen Medhurst

Yes that's what it is looking like. I am beating myself up because I did not do a well enough write up of the numbers for my current place im in because I was so focused in the numbers if the other place. It goes to show the importance of making sure you are conservative with the numbers. I do appreciate your advice.

@Sudhanshu Singha Thank you for the reply Sudhanshu. I am considering refinancing here soon.

@John Farady Haha thank you for the reply John. I am not sure which roles my wife and I will play. Perhaps a conversation I will have.

@Jaysen Medhurst Thank you for replying.

So on my current home:

154k loan at %4.25 interest

I have not had an appraisal since I bought two years ago, but with comps I'm looking at around 160k.

Expenses monthly

1300 just for the mortgage

Not including property management cap ex, and maintence in that. I realized after typing this out I did not account for those things.

I could rent out around 1600 a month.

I was going to try and finance the rehab costs through a line of credit with a local lender.

Hello BP,

So my wife and I are wanting to move into a slightly bigger house as we have out grown our current house. We found a house right down the road from our current house that is just the right size, but it will require a good amount of rehab.

My plan is to rent out my current home and move into this house do the rehab as I live in it. I should cash flow around 300 a month on my current home.

I did an analysis on the home requiring rehab and if I can get it for 95k, I would need to put about 50-60k into it. ARV looking to be around 190k.

My wife and I do have handyman skills so would be doing much of the work ourselves.

Has anyone done anything like this? Pros? Cons? Any advice would be helpful.

Thank you BP community!

Hello Springfield,

I'm looking to get my first Investment property in your city, I have a very good friend there and he has raved about the growth and opportunity here.

I was hoping to network with realtors, wholesellers, lenders, and other investors so I can get the ball rolling to land my first deal soon.

If anyone is willing to take a moment of thier time to provide some insight, I would greatly appreciate it.

I live in North Country New York about and hour from Montreal Canada. Unfortunately there is nothing in my backyard worthwhile.

Hello,

I do not live in the Watertown Area. But was looking to reach out to anyone who could give insight on the area and/or potential to partner up.

Let's have a discussion!

-Omar

@Nicholas Sheridan, Jr.

Super Inspiring. My goal is to land my first deal this year as well. Wishing you great success!!

What was your biggest mental obstacle?