All Forum Posts by: Tanner Marsey

If you base it off the numbers then a 30 year mortgage is going to be the call every single time. However, there is more than just numbers. I want to have 5-7 properties paid off entirely in 15ish years to provide cash flow and security during an early retirement. The security of those properties being 100% paid off are worth more to me than the additional investments/gains I could have pursued if they were on a 30.

I swear by the Costco stuff. Personal and rentals.

@Jonathan Watt

I assume he’s bringing these contractors out before actually obtaining the property and there is a good chance that he won’t actually end up with the property at all, in which case the work would never get done by anyone. I could be wrong but that’s how I interpreted it.

Original question.... call them. Explain your situation and ask what the fee will be for them to come and bid a potential job. Some will be free. Some will be more than you are willing to pay.... most will be somewhere in between. Good luck.

0 dollars. Depends on market. Depends what I have in the deal. What I expect the deal to produce 10, 20, 30 years from now.

When Brandon says 200/door is a home run he is talking about after all expenses accounted for PITI, cap ex, vacancy, etc. and probably on a propertyhe BRRRR'd, therefore, having little to no money in the deal. Some people would consider the returns as "infinite"

It's all about ability to close. For every offer accepted that ends up not working out that costs the seller another mortgage payment. 20% or more down is a pretty good indicator the buyer is serious and has the ability to close. You can do all the other stuff in regards to pre approval, under writing, POF, etc. but the guy with 20% down probably has that, too. I would suggest getting a bigger down payment, offering above asking right off the bat, escalation clauses or getting creative. Look at homes that have been listed for a while, off market deals, different market, wait for the busy summer season to end, etc...

I think you’re correct so I’m not going to bother trying to change your mind but it all depends on what you’re looking for....

Great read. Thank you!

I’ve said it before on here and I’ll say it again.... too many people are lacking the ability to see what their investment will produce in the future. Which is fine by me.... more deals for those of us that speculate and look at the potential returns.

“The day you plant the seed is not the day you eat the fruit” runs through my head when analyzing potential purchases.

Great post. I'm about to pull the trigger on my first STR and this had a lot of good info.

I don't think anyone can deny the money to be made in the STR game. It's just more of a job than a LTR is. Keep doing your thing and enjoying the fruits of your labor.

Always be prepared to leave money in the deal. If the numbers still work for you then go ahead and see how it goes...

have multiple exit strategies.

Everyone mentioning your small/non existent cash flow is correct. But most people utilizing the BRRRR method are using it for long term gain/wealth building. Not the monthly income.

Unless you’re okay with losing money and/or your friendship I would suggest you don’t do this.