All Forum Posts by: RC Dimalanta

@Jaysen Medhurst Hey thanks Jaysen. I'll definitely edit this. Should I come in at a lower bid price for the house? I'm guessing if I do that then I'll be able to pay for most of the stuff like closing costs etc. 

Hey Everyone, 

I'm new to doing calculations, but I want to get better and find out what I'm missing when I'm looking into some of these deals. To give you guys a better picture let me explain how I got to these numbers and hopefully you can give me feedback on things I need to include. 

The asking price for the original property was $65,777. Looking at the property I saw that it was pretty outdated. Old brick wood fire-place, Needs paint, Bathroom needs to be updated, and possibly new appliances. I was thinking of possibly going in at either 50-55k (if I were to do this deal). I was thinking painting, an appliance suite, and touch up on the bathroom would possibly be around 10k? I'm not a painter, but when we I had my dads house painted it was around 3500, but that was with removal of the popcorn ceiling, re-texturing, and then 2 colors of paint so I'm going on the high side of 2000? Appliance suite depending on what I go for could easily be around 1500-2000 dollars. and to touch up the bathroom I could possibly be around 4-6k, but that's a very high guestimate imo. If I were to refi lets say 80 percent then that would be 52,000. I guess I wouldn't get all of my capital back, but I think that's pretty fine since I'll have most of my capital that would go into another deal. Anyway, I thank everyone in advance if you're willing to help. 

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Hey Everyone, 

I'm new to doing calculations, but I want to get better and find out what I'm missing when I'm looking into some of these deals. To give you guys a better picture let me explain how I got to these numbers and hopefully you can give me feedback on things I need to include. 

The asking price for the original property was $65,777. Looking at the property I saw that it was pretty outdated. Old brick wood fire-place, Needs paint, Bathroom needs to be updated, and possibly new appliances. I was thinking of possibly going in at either 50-55k (if I were to do this deal). I was thinking painting, an appliance suite, and touch up on the bathroom would possibly be around 10k? I'm not a painter, but when we I had my dads house painted it was around 3500, but that was with removal of the popcorn ceiling, re-texturing, and then 2 colors of paint so I'm going on the high side of 2000? Appliance suite depending on what I go for could easily be around 1500-2000 dollars. and to touch up the bathroom I could possibly be around 4-6k, but that's a very high guestimate imo. If I were to refi lets say 80 percent then that would be 52,000. I guess I wouldn't get all of my capital back, but I think that's pretty fine since I'll have most of my capital that would go into another deal. Anyway, I thank everyone in advance if you're willing to help. 

View report

*This link comes directly from our calculators, based on information input by the member who posted.

This was a great meet up. For anyone thinking about getting into REI - this is a must. Meeting Travis, Robert, and the rest of the BP meet up attendees was definitely a cool experience. The knowledge value alone is worth the trip. Understand that going to an event like this has more positive upside potential than just sitting at home and researching. My wife and I will definitely be back for sure. Let me clarify that Robert and Travis are NOT there to sell you anything. It's purely from the bottom of their heart to help everyone out and I think that's super awesome. That metric alone is what I want to do when I own multiple properties. So in the future, I know I'll be able to contribute to the group. It all starts with one and for sure my wife and I are set on REI. Hope to see you all at the next one!

@Jim Nghiem Hey welcome to BP! There are alot of people from the bay area on this forum - myself included! Some of the investors in the bay area are currently investing out of state. I believe there is a meet up in Cupertino this coming week! Good luck with everything.

@Jeff Schechter Hey Jeff, I saw your post in the forum about the real estate in IN, I was wondering if you could shed some light on the market in that area. I was thinking about investing in Kansas City, MO, but I like to keep my options open. Thanks! -RC

@Jeff Schechter @Larry Fried @Jason G. Thank you all for replying.

@Lee Ripma your post cleared up so many questions that I had in my head. Thank you! We've been thinking about a couple areas in Texas to start off, but we have no experience using the BRRRR method. If you dont mind, how do you go about finding trustworthy people to do rehabs and property managing? Thank you again!

Hey everyone, my wife and I are new to biggerpockets and REI, but we definitely want to get started. We definitely do not have a big network of investors (although we live near San Jose, CA), so it has been challenging to meet up and talk about REI with others who have been doing this for quite some time. We plan on buying another home next year once we pull equity from our first home. The only challenge is that we don't have any 'skin in the game' when it comes to REI. We are open to the BRRRR method; however, we stumbled upon a website that was on the BP podcast called roofstock.com. Has anyone used this? It seems like a great website, but I wanted to know if anyone here actually uses it. I see all the advantages with this website, but what are the disadvantages? In addition, If anyone is in the San Jose area and is willing to network let us know.