All Forum Posts by: Christopher H.

Simple question

Have you used a Real Estate coach?

If yes, would you do it again?  Was it worth it?  

@Amy Z

Try connecting with a strong investor oriented mortgage broker. There is a few things you can look at here. Refinance all of your properties into a commercial loan is one potential. There is some banks that will do more then 5 conventional morrgages also, but your broker needs to know who and how. Could also look at leveraging a couple properties to pay one out and free up a mortgage, but that's very situational.

TLDR: need a solid broker on your side. :)

@Oudai Altabbaa

So you bought a turnkey for 359k that is now worth 395k and 20% cash on cash? Am I understanding this right?

And your concerned if you got a good deal or not?

@Chris Oxford

Location? Do you have properties or on the hunt?

@Stephen Keighery

Great post. Great story. Love to see it.

Congrats man.

@Danielle Dickens

Math doesn't care if it's your 1st or 50th deal. Don't think you can't do a full brrrr because your just starting out.

With that said keep in mind you might have to look at a lot of properties to find it. Having someone experienced to work with would increase your chances of success also. It's up to you to decide if your willing to do a deal for less then %100 cash out or not, but don't think you *have* to.

It may take patience and time to find a good deal.

Just remember .. if you don't lie to math it won't lie to you :)

Good luck

@Marc Spillman

It's a bit tough without seeing the property to give good advice here. What your describing seems logical enough.

Any other unused or inefficient space you could put an ikea style closet? Could build shelving above the washer/dryer in that case and not have to replace them.

@Shalin Patel

As Mitch stated your HOA could already have rules that would prevent this. Even if they don't.. what are the odds one or more of the neighbours aren't going to complain about it?

Sounds like a heat score waiting to happen. Just my opinion.

@Jonathan Straiton

1) Find out what prop managers charge in your area 

2) Define your investment criteria

3) Run the numbers as a full rental with the prop manager included.

4) Find a property where the numbers in #3 fit your criteria from #2

5) Now you can begin the buying process

That is one really simple way to hedge against your concern. 

Good luck with your purchase