The Meadowbrook Dr SE property was successfully sold on 11/15/2024 for $249,900, showcasing the effectiveness of Partner Driven’s approach.

Let’s make this the start of something impactful and build a community that supports each other’s success!

Do you find that lower down makes it harder for a successful BRRR? 

Phishing is the number one attack vector and is successful because humans have emotions and can be manipulated.

It's crucial to evaluate how the deal performs with the new mortgage:Updated Financials After Refinancing: Market Value: $459,000 Mortgage Amount (80% LTV): $367,200 Equity: $91,800 Interest Rate: 5% (30-Year Amortization) Assuming after 12months the rate will drop to 5%Monthly Expenses: Mortgage Payment (5% Interest): $1,971 (Now you are paying interest and principals) Property Tax: $260 (assuming has been increased with a 4% from last year) Utilities: $361 Insurance: $104 (+4% Adjustment) Vacancy: $166 (now after 12 months we can assume we have some vacancy at 5% factor on annual rent) Repairs & Maintenance: $166 (now after 12 months we can assume we have repairs at 5% factor on annual rent) Total Monthly Expenses: $3,028Rent Income after 12 months assuming annual rent increase at 5% : $3,323Cash Flow: $295$ per month 😊Long-Term Gains: $5,418 Principal Paydown year 2 (this will increase each as you pay off your mortgage $36,720 Property Appreciation (assuming 8% per year) $3,540 Cash Flow (this will increase as rents rise)Total Annual Return on Investment: $45,678 with just $ $22,789 remaining in the deal.

While some may find a modicum of success I find it waaay too competitive (I have seen 6 bedroom homes for under $200 a night). 

(I have successfully won damages in every eviction I've handled so far, btw).Just letting everyone on here know what I suspect to be going on, so you can be on the lookout for this activity from some of your current and future tenants.

He did eventually have success. 

They did successfully place and a tenant who even pays early, which is a very nice change.

The comps that do exist seem to be performing at a high-levelMarket Overvaluation?