All Forum Posts by: Stephen Quesinberry

@Garth Kukla Great advice, thank you!

@Trevor F. not sure, what you mean by finance strategy? In the BRRR, I bought using hard money and am currently in the process of refinancing into conventional loan.

I started looking for deals a couple of months after educating myself on nights and weekends. 

@Russell Bogan

Hi Russell, 

I had to pay closing costs for hard money close. I'm not getting any money back on refinance because both hard money and refinance were loaned out a 75% LTV which equals to $112,500. Purchase price was $102,000, with my total out of pocket being about $25K. I was able to swallow some of the costs with the difference but obviously not a significant amount. Hope this answers the question.

@Russell Bogan @Ryan Ogilvie Refer to my response to @Chris Low. Will follow up as to why I don't need seasoning on the refinance. 

@Chris L. Thank you for the sound advice!

@Matthew Hipp yes, refer to my response to @Chris Low

@Monica Diaz Hi Monica, yes it is a good working class neighborhood. I targeted several areas that were more blue collar with affordable pricing both for houses and rental prices. These areas have average to good schools with min-low crime rates. It's not the best areas, but certainly not the worst. I would recommend picking a few areas that meet a criteria you'd prefer and feel comfortable to invest in. 

@Nate Barbee See my reply to @Chris Low. I have not had trouble with the seasoning period. I will find out why that is. 

@Mike Dymski This is calculated after refinance expenses, I have a pretty good idea what those expenses will be. 

@Steve Moody So true. That was my line of thinking in why I shifted the price to below $1350.