All Forum Posts by: Ruth P.

I am interested in Lewiston/Auburn as well.  We are thinking about buying in about a year.

I am reading 7 years to 7 figures, but can we really get such a good deal as $80k for a quadraplex?!  That rents for $600 per unit?  That is like spending $20K for a house and renting it for $600, way surpassing the 1% and 2% rules.  Getting 3% would be great but is it really that easy?

Though I don't know him that well, Kevin Sobilo is a rental property investor who does BRRRR deals and is also a real estate agent in Pennsylvania. I saw some favorable reviews for him online. Hope that helps. :0)

Hi Roxzy:  How is your real estate in NM going?  I am thinking that Santa Fe NM would be a good place to buy rental properties also.  

I hear it's great to be the landlord of a mobile home park where you don't have to fix people's stuff.  You just rent the land to them.

I heard it was good.

Hi Jered:  If you found good PM, realtor, inspector, and contractors, please let me know.  I am based in Berkeley, Ca and would like to buy buy and holds in Scranton. Thanks!

Thanks Nathan!

“There are naive questions, tedious questions, ill-phrased questions, questions put after inadequate self-criticism. But every question is a cry to understand the world. There is no such thing as a dumb question.”

― Carl Sagan, The Demon-Haunted World: Science as a Candle in the Dark

I think I'm figuring this loan stuff out a little more. Please tell me if this is right: You get prequalified for a loan that will cover a specific amount based on your DTI and how much assets you have. Then you go about buying and rehabbing, and as long as you have your numbers right (thanks BiggerPockets calculators and help from members!), then you can be 99.99% confident that you will be able to refinance based on your having been prequalified ahead of time, right?

Another question--If you are going to BRRRR, shouldn't you tell the lender who is prequalifying you what your plan is? Or does it just confuse things for the lender? I would be afraid to cause them to not want to work with me because of my unusual BRRRR system. But on the other hand, I want a lender who knows what I'm up to and doesn't mind working with a BRRRR person.