All Forum Posts by: Tom Rolph

You came to the right place my friend! I WISH Bigger Pockets existed (I really wish the internet existed :) ) when I got started. Break down your interests one by one and dig into all of the resources available to you here. As you are reading and learning about a particular topic, if you don't understand something you have the ability to reach out to the author or another investor that has been posting on the topic. Look around in your local market for meetups and get to know a few of the local investors. If you find a deal or if someone is "Offering you a Deal" post the details and get feed back from the group. Good luck to you and don't let your previous experiences limit your future ossibilities. 

Now you are thinking like an investor! Get a REALLY good deal on the purchase and it will insolate you from all kinds of unexpected events in the future. The other thing to remember is that you are not buying these to sell tomorrow. As long as you have good cash flow, if the value drops a bit after you have refi'd your seed money back out of it, you are set to do it again at the new lower prices.

Sounds like a great question for the lender that you worked with to get prequalified for the loan. You have got prequalified, right?

If you can cash flow the nicer 170K house why not do that 3 seperate times (or more) and end up with 3 nicer cash flowing properties? 

House hacking does not mean that you HAVE to live rent free. If you could pay 25%-50% of what you are currently paying for rent and save the rest, wouldn't that help you build up a savings account to invest with?

I would find a partner with strong income. You supply the down payment, they supply the income. The problem with your plan is that the last 'R' in BRRRR stands for refi. How would you qualify to refi with no job?

I am NOT an attorney but a tax lien is a lien against property that you own. I would NOT do a double close as you actually go on title and that would probably trigger the lien. The IRS do NOT play. They are very serious about collecting what is theirs. They can garnish wages, bank accounts and very possibly escrow funds. Make good with Uncle Sam before it gets any uglier. 

NOT a lawyer or a TX Realtor so check with yours but your protections should all be in the contract. Most contracts have outs for the buys. You need to work with someone experienced in your market to make sure you have and use good contracts.

Really?? You could spend MONTHS reading, listening and watching the materials on this site. It is FILLED with invaluable tips and insights. Roll up your sleeves and put forth some effort to consume what is right.

Pick up a copy of the book 'How to Win Friends and Influence People' or listen to a recorded copy. Your job is to get the owner to talk. You will learn a LOT by becoming an amazing listener. EVERYTHING in life will be easier. Once you have an understanding of the owner's situation and what their needs are, you can structure several options that satisfy their needs and yours.