All Forum Posts by: Ryan Todd

please send info to [email protected] if still available 

Tim - shoot me a pm, I will walk you though my last 2 deals

@Austin Pitts small world, I grew up with Troy and his brothers. I will give him a shout, thanks. 

@Dave Foster thank you for the very thorough response and gives me more insight into how to proceed. 

@Steven Hickox thanks. You're right in that I cannot make improvements until they are gone, so the house is not as valuable as it could be in the eyes of an appraiser for refi or top of market value. I like your advice to pay it down in the mean time to maximize value during re-list or resale

@Derek Dame appreciate you balancing the thought process. I am in this for buy and hold and know that I could leverage the equity in the Austin house to purchase 2+ properties in a different market (likely with better cash flow) which would give me a multiple on rents coming in. 

I will try to summarize my thoughts so that BP community can weigh in

I currently own 2 rentals, one in my local community and one in Austin, TX

The Austin property has anywhere from $75,000-150,000 in equity depending on if I sell it as is, or take the time to renovate it presell. It has tenants on a lease through August 18 and the cash flow is minimal but they have been there for 5 years and are perfect tenants. I believe they would buy it if they could afford it but I think Austin property values have outpaced their ability to buy. 

I am considering selling the Austin property while it is super hot market and 1031 exchange it to pick up 2-5 more properties in a community with a lower entry point.

How can I use BRRRR to maximize this? What other strategies am I not considering? Other advice?

Check the forms section here at BP, there might be one that meets your needs

I recommend Blue Star Renovations, Charles Ortega

@Carrie Hiner

I know this post is dead, but I am curious whatever ended up happening with this deal. I own a rental in the Windsor Hills neighborhood and have been debating acquiring more. 

TIA

Ryan 

My (bank) lender will loan 75% of ARV.

Purchase : $50k

ARV: $100k

Loan can be up to: $75k 

  $25k can be your flip fund. Hope this makes sense.

@Jennifer Bondhus welcome to Texas! My current rental is actually in Austin where you are now located. Best of luck in a wonderful city!