All Forum Posts by: Yuji Miyamoto

Hi BP!

I have seen one thread about this topic and am still wondering how you determine a property to BRRRR. Do you apply 1% rule for an original purchase price? or purchase price plus rehab cost? or ARV? I know how the strategy works and that 1% rule is just a rule of thumb and it will all depend on your interest rate, closing cost, property tax and amortization period etc. However, if you want cash flow to be positive after refi or even break even, it would be better to look for a property that has potential to raise a rent to meet 1% rule for ARV, right?

What's your criteria on this?? Please share your insight if you don't mind!!

Thank you!!

@Joey Dwyer

Hi Joey! Thank you for taking your time to respond! 

It is so nice to have someone in my backyard who has some experience that I would like to copy myself!!!! That is so true! I haven't seen many duplex or triplex on MLS like realtor.com or Zillow yet so I will keep my eyes on them!

Are you buying in any particular market?? I haven't had my team in place yet so I am in search of real state agents/brokers, PMs, lenders and contractors. If you know somebody or have somebody that knows people and don't mind sharing with me, I'd appreciate it so much!!

Let's keep in touch!!

@Natasha Young

Hi Natasha! Thank you!

I have never been in Cincinnati so I will definitely PM you!

@Scott DeMichele

Thank you for your info, Scott! Since I am from CA, this type of information is so valuable to me!

With the little I know for now on Indianapolis, the market seems decent that meets my budget and will expect some future growth too! I don't mind having work done as long as it adds value to it since my idea is to put the all-in to be 70% of ARV so!

I highly appreciate your insight on Indy market and hope to keep in touch with you!! 

@Dmitriy Fomichenko

Thank you Dmitriy!! 

This is the first reply I got here on BP so you will be immortalized in my heart!!

Will do! Hope to keep learning along the way!

Happy Memorial Day weekend!!

Hi BP! My name is Yuji and i currently reside in Torrance, CA. I came here last year from Tokyo, Japan. Like lots of other folks in BP, I started educating myself about personal finance and FIRE an year ago. I really like the idea of having financial control that is not dependent on other people, which led me to RE. I have been immersing myself in reading, listening to BP podcasts and now it is time for me to take a step forward! I am so excited to finally walk toward my goal!!

While I am doing market research and due diligence, I would like to connect with as much people as possible and absorb as much information as possible!

I am looking to buy a out-of-state rental property this year with maybe BRRRR strategy. Haven't determined a market yet but those markets I am looking into are Indianapolis, Cincinnati and Northern KY to name a few.

My Criteria is...

- Buy a rental that is based on cashflow and does not count on appreciation. 

- < 100k

- Falls on at least 1% rule

- Avoid war zones

- SFH or small multifamily

- If rehab is required, prefer only cosmetics since I am newbie. Avoid structure and/or electricity issue.

Well, I wrote a lot but here to connect with people!! Looking forward to hearing from you!!!