All Forum Posts by: Seth Murray

@Ian Lockwood

I’m in Front Royal and have been working with Clint Pierpoint, of NextHome Realty Select. He’s also an investor himself and a contractor. He’s a great guy and easy to work with.

@Anthony Vicino

Thanks, Anthony. I’m thinking the 6 months expenses would consist of the expected 6 months rent? Any other expenses beyond that?

Great advice, Joseph. Thank you!

What's the minimum amount of money a new real estate investor should have in savings before buying their first rental property? Specifically for the BRRRR strategy on a single family residence. Any rules of thumb for this?

Even though you can use other people's money to purchase and rehab, it seems like you'd need a certain level of cushion for unexpected repairs, vacancies, or emergencies that might come up before the property has had enough time to build up its own cash reserves for such things. 

What's the minimum amount of money a newbie investor should have in savings before buying their first rental property? Specifically for the BRRRR strategy on a single family residence. Is $20,000 enough of a cushion? I plan to use private money for the purchase and rehab costs, but am not sure how much, if any, a private money lender typically wants the investor to contribute towards those expenses to have skin in the game. And, how much one should have in savings for expenses like emergency repairs that wouldn't be covered by insurance, vacancies or unexpected capital expenses that might come up before the cap ex fund is large enough to cover them.

@Collin Wilson

Hey Collin! I’d love to do a meetup. Let’s set something up for the new year.

@Collin Wilson

I'm in Front Royal and looking to buy properties to BRRRR. Would love to connect with you and any other real estate investors in the area.

@Aaron Schump

Great to hear. I’m also looking at doing a new construction project- duplex with a partner, which should definitely maximize the value of my architecture toolbox.

@Dawn Brenengen

Thank you! I will check it out.

@Aaron Schump

Thanks! I'll check out the book recommendation. What has your experience been with the best way to leverage your architecture skills into making money in real estate? Do you bring the design and drawings to the deal and to a team as part of your capital in place of cash?