All Forum Posts by: Troy Miller

Hello everyone I have been analyzing a ton of properties and I have identified two properties. I initially wanted to do BRRR but the two properties I found are both rather new (2019&2020). I ran the numbers and one had a COC ROI 5.17 % and the other is 8%. I know they aren't great but they are in a great area that is growing super fast with a large highend shopping center to open in the next 3 to 4 years and they are across the street from a highly rated high school. Both properties cashflow about $400 (which isn't great but seems decent). What's your thoughts on buying new homes with such a low ROI in hopes of the appreciation. Thanks

@Grant Schroeder thanks for your response. Both properties are in the company name and so are the insurance policies. We also filed our 2020 taxes for the business with the rental income and the expenditures. I am being told that there is nothing I can do right now. I have to quit deed the homes back into our name and then wait 6 months for seasoning. It seems like I'm running into walls everywhere I turn. Any info or suggestions would be greatly appreciated. I really don't want to wait 6 months. I have a property right now I have my eye on and have been able to get the seller way down and I don't want to lose it. Thanks Troy

Good Afternoon Everyone,

I am just getting started in real estate investing. Like David Green I also have been in law enforcement for over 20 plus years and I'm looking at exit strategies and ways to build my wealth for retirement years and also for my son when he gets older. We have two homes (currently rentals) that are paid for free and clear and my plan is to pull roughly $150,000 out of each one (total $300,000) to get started in the BRRRR process. I'm running into a little snag with the cash out refi because for some reason we thought it was a good idea to quitdeed the homes into a business that we started but now we are having a hard time getting a residential loan. I think we will ultimately have to quitdeed them back into our names to get the loan (lesson #1 learned HAHA). Once that is done we already have a few leads to go on and a contractor lined up that is familiar with investor fix and flip type remodels. My big question or concern I'm coming across is I can not find a lender locally that will do a cash out Refi without the 6 month seasoning. I was hoping someone on here could point me in a direction of a lender that would be willing or able to do it in like 4 months or if there are any out there. Also I'm completely open to any suggestions or ideas. I also have a meeting with my Tax person in the next week so I can be ready when the good old government comes asking for their money. Oh by the way I currently live in California (Central Valley Area). Cost is much lower than the SoCal or Bay Area but prices are going up fast. I am hoping to BRRRR maybe 3 or 4 a year since I'm a little older and am starting a little late in life.

Thank you in advance and again I am completely open to any input, suggestions, or direction.