All Forum Posts by: Troy Carter

@Jason Pritchard thanks for the reply.  I did think about taking out the management fee.  I have one rental that I've been managing on my own for about 7 years now, so managing a few more with it shouldn't be a problem.  That would definitely help the cash flow.  My goal is to have 10 plus rentals some day but I'm struggling with finding deals right now.  Wish I knew about your Meetup last month when you talked on that.  I'm happy to hear my numbers are good and that I'm not missing anything.  Well, other than the Cap Ex that I purposely left out because I knew it would kill the deal.  @Henry Kaldenbaugh That is a great point about Cap Ex.  If I spend the rehab money replacing the big ticket items, maybe I can wait a few years to start putting anything aside for it.  Thanks again for your guys input, It helps me a lot.

I just ran this same scenario changing the purchase price to $75,000, upping the rehab to $15,000 and cashing out 53% on the refinance.  Now I'm at $283 cash flow.  Much closer to the $300 I would like to be, but $75,00 for a $200,000 house?  Now that would be one highly motivated seller.

I'm a new investor in Fresno, Ca with a private lender ready to fund my first deal.  Before even thinking about making any offers, I am trying to do some mock analyzing to make sure I know what I'm doing.  This is my first attempt at analyzing a deal and things just do not seem right to me.  In this scenario I'm paying 50% below market value, only cashing out 65% on the refinance and still only cash flowing $161.  I thought for a single family investment property one would like to be at more like $300 cash flow.  Am I doing something wrong here?  What does it take to get a better cash flowing deal?  Am I paying too much, taking out too much on the refinance, doing the analysis totally wrong, or is this just not a good market area?  Any input on this mock deal would be greatly appreciated.

@Jason Pritchard if you have time to give me your feedback, I always value your opinions or if you know anyone in our area that might be willing to help me, please let me know.  THANKS!

I would like to take out a HELOC on my primary residence for a downpayment on a BRRRR property. Can anyone guide me through finding the right lender that would work best with this type of investment. Where might I find one, important questions to ask, any requirements... when shopping for the right lender? I live in Fresno, Ca and the property will also be purchased in Fresno or Clovis, Ca. Any advise is greatly appreciated.

I have about $70k equity in my rental property (30 year fixed 4.5%) and about $50k equity in my residence home (30 year fixed 3.375%).  I would like to use some equity to add another rental to my portfolio using the Brrrr approach.

Questions are:

Which property should I pull from?

Do I do a cash out or HELOC?

Any advise or links with more info on how make this transaction a success is appreciated.