All Forum Posts by: Account Closed

@Zach Griffin

It does help. Thanks

I am in Clark County.  Jeffersonville, Clarksville, New Albany, Sellersburg, to be more specific.  

@Zach Griffin, thank you for that sound advice. I recently purchased David's book and I am reading it now. Honestly, I wasn't necessarily looking to purchase the move-in ready property and utilize BRRRR, but as a way to begin generating rental income and start raising capital. Therein lies my real problem - raising capital. My hope was that I could generate a year's worth of rental income and refinance in a year's time in order to buy my first BRRRR property. Is this a bad move? Can you offer some ways I could raise some money?

@Caleb Fledderjohann

Can you give me an example of the rule of thumb on rent vs tax+insurance? The rent would be 1100 and annual property tax is 800 and insurance is approx 100/mo.

@Caleb Fledderjohann

Thank you so much! That helps tremendously.

@Caleb Brown

Indiana

@Caleb Brown

Thanks for the advice. Any lenders you can think of I would greatly appreciate.

@Zeke Liston I believe I have calculated all necessary expenses.  I have estimated insurance, repairs, vacancy and capex for the time being at 100 each.  Can you assist on loan type?  What should I be applying for?  Thank you for your response.  

I am looking for lots of feed back here. I am new to investing looking to purchase my first property soon. I ultimately want to utilize BRRRR as my vehicle, but I have very little of my own money. Here is where I need some help.

I am thinking of buying a home that is move-in-ready (I have my eye on a couple that range from 90-95k).  I have a friend who is looking for a house to rent.  I used Four Square analysis and it looks like I could cash flow right around $200/month.  I feel like I am overlooking something.  Can someone help here?  Oh, and I am looking to put just 3% down.