All Forum Posts by: Patrick Simmons

I recently had a 5-plex under contract for $450k it’s a in a C class neighborhood in Tucson Arizona, cash flow about $3275 per month. Rent can be increased a little to $3700 per month.

I’m putting 25% down for this project, and have reserve to do a few updates so I can charge more rent.

Wondering if this is a good investment opportunity, or the market is too inflated now and it’s not a good time to buy.

Just listened to the deeper dive of the most recent episode 368 where the lady talked about how she cashed flowed on her 3 triplexes side by side by doing BRRRR.

I have a question about that. When you inherited tenants when you bought the triplexes, how would you rehab the properties when the tenants were still in there while paying hard money lender? I am facing the problem now where the I can’t rehab my triplex until the tenants move out which will be in about a year. Any insights will be greatly appreciated!

I have a question regarding the BRRRR - private money lending part.

I am still looking for houses, haven't yet found a perfect BRRRR property that I want to buy. I suppose as soon as I find one , I will need to be able to prove my funding pretty quickly before I write an offer.

So my question is, do I need to get a hold of private money lender and get pre-qualified, so I can start writing offers when I spot properties? Will the private money lender charge me any interest during the pre-qualification period or the interest won't kick in until I close on the house?