All Forum Posts by: Simon Obas

Anyone invest in Windsor, CT? How would you say the market is up there for BRRRR'ing?

@Mike Cumbie thank you Mike!

@Mike Cumbie Good information. Thank you. I did not submit the EMD yet. I am trying to do a Brrrr and this house doesn't make sense to do it. I should have done a better due diligence job. I am thinking about paying the agent and seller an inconvenience fee to show good faith. 

Peace! I got an offer accepted & I, and the seller signed the purchase agreement. After crunching some numbers, the deal doesn't make sense for me. I'm trying to BRRRR. I'm supposed to send the earnest deposit money tomorrow. I plan on telling my agent that I am not going through with this deal. I feel awful however, it just doesn't make sense to me. Can I back out of the deal or do I have to go through with it now? I don't wanna wait for an inspection etc. I just want to back out now and not waste anyone's time. 

@Nicholas L. Got it and yes I am.

@Michael J. Abel thank you I appreciate this

Hey y'all! I need help analyzing a potential BRRRR deal.

Purchase price $215k

ARV: I'm not exactly sure. I cannot find any comps that makes sense. I'm thinking (more so hoping) high $200s.

The house itself doesn’t need much work. I definitely need to rehab the kitchen. the home currently has one full bathroom and a half of bathroom. My plan is is to add another bathroom (standing shower) to increase the value. I also plan to finish the attic which can be used as a living space, it’s already pretty much done. I’m “assuming” this will also increase the value of the home.

Rehab: $30k conservatively.

Rent: $2000 a month

Context: The home is located in a historic neighborhood in New Britain Connecticut, Which is why I put in an offer knowing the margins would be tight (I think I got excited). I have no problem telling you the address of the home so if you want to look it up and lmk your thoughts I would greatly appreciate it. It’s 25 Forest ST, new britain CT. This would be my first brrrr deal so I really want to do this right! The sellers accepted my offer however, if the math doesn’t make sense I have to pull out and this is where I need your help.

Please help me out! Thank you.

Hey y'all! I need help analyzing a potential BRRRR deal.

Purchase price $215k

ARV: I'm not exactly sure. I cannot find any comps that makes sense. I'm thinking (more so hoping) high $200s.

The house itself doesn’t need much work. I definitely need to rehab the kitchen. the home currently has one full bathroom and a half of bathroom. My plan is is to add another bathroom (standing shower) to increase the value. I also plan to finish the attic which can be used as a living space, it’s already pretty much done. I’m “assuming” this will also increase the value of the home.

Rehab: $30k conservatively.

Rent: $2000 a month

Context: The home is located in a historic neighborhood in New Britain Connecticut, Which is why I put in an offer knowing the margins would be tight (I think I got excited). I have no problem telling you the address of the home so if you want to look it up and lmk your thoughts I would greatly appreciate it. It’s 25 Forest ST, new britain CT. This would be my first brrrr deal so I really want to do this right! The sellers accepted my offer however, if the math doesn’t make sense I have to pull out and this is where I need your help.

Please help me out! Thank you.

Greetings! I'm interested in purchasing a home however, my agent and I cannot find accurate comps for it. How do I assess the ARV? I'm interested in doing a BRRR. Can I go buy what a similar home is currently on sale for? How much does the neighborhood play it into the ARV? Any help is much appreciated. The seller accepted a verbal offer and now I'm trying to do my due diligence. Pls help. 

Hello!

How do I do a cash out refinance if I bought the property through an LLC using a hard money loan?