All Forum Posts by: Ruth P.

Thanks Patricia!

I see what you're saying, Aaron K. That's exactly what I was thinking, but I am trying to understand David Greene's book, "BRRRR" in chapter 8, "Choosing Your Lender," when he says, "A crucial part of ensuring the BRRRR process works for you is to know you can actually pull money out before you start the process." He says it is important to find a lender before you start. But what if you find a lender, get preapproved, then go and spend cash on buying a fixer and having it fixed, only to end up with no money but with a fixed, hopefully fully-rented house as collateral? Would the preapproval still be valid after you have much less money but a rehabbed house with tenants?

Sean, forgive me if I don't understand, but are you saying not to apply for preapproval until after it's been fixed and has tenants?

David Greene talks about portfolio lenders on page 235 of "BRRRR." Is getting preapproved (for a refi loan) for a house that's not been bought, rehabbed and rented only possible with a portfolio lender?

Thanks for all your help!

Hello BP: With the BRRRR method, you refinance at the end before repeating. What if you approached a bank for a refi loan asking them to agree to refinance for a house that you are interested in buying, but you want them to agree to refinance IN THE FUTURE, after it has been purchased with cash, rehabbed and rented. Is that even possible, and if so, is it done often? Any help to clarify my mind on this is much appreciated!

I bought a van thinking I could easily resell it, since I felt it was a good deal when I got it.  But I had to actually lower the price even after I put new tires and fixed the exhaust...I would say buy only amazing deals if you want to flip cars.  It sounds like you have a lot more luck, knack, and know how.  Best of luck to you!

Thanks Corina!  Eau Claire is looking very interesting to me.

If you have read David Greene's book, "BRRRR," you might be convinced like I am that buy and hold is the best.

@Andrew Fonden Sure, that would be very helpful!  Thanks

Thank you so much Michelle and Rebecca!

Hi all:  If anyone can recommend realtors, PMs, contractors and inspectors in Eau Claire, WI, please let me know.  I am interested in buying in that market.  Also, I would love to hear tips about the market in general.  Thanks!

How about La Crosse, WI or Eau Claire WI?  The crime rates are lower and the schools rate higher, but are there enough potential tenants there?