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19 February 2025 | 8 replies
It’s harder to BRRRR in the Tulsa area now due interest rates, you definitely have to buy at a great discount in order to be all in low enough toget all of your money out and the rents have to be high enough to still cash flow after all expenses (PITI, Mgmt, Vac’s, Rep/Maint, CapEx, HOAs, Util).Based on being “all in” $120K in order to BRRRR and still cash flow at least $300 mo:$120K cash out amount - at 7%/30 yr ($150K+ ARV)PI = $800 mo + Taxes $150 + Ins $150 = $1100mo PITIRENT would have to be at least $2000 mo- $1100 PITI- $200 mgmt (even if self mng, it’s exp for time)- $200 vacancies- $200 Rep/Maint & CapEx= $300 mo cash flow.
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19 February 2025 | 3 replies
Is there any way to get a construction loan for a self build WITHOUT extensive building experience and references?
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21 February 2025 | 4 replies
Self-education and finding a mentor or partner to learn from are much better options.
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10 February 2025 | 3 replies
You will likely run into a lot of late-20's/early 30s guys doing this, who have a lot of confidence but not a lot of experience.Overall, I think the biggest thing is finding a group that generally has the same outlook as you.
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8 February 2025 | 12 replies
Toby - getting your license for self representation of you're planning on doing a lot of deals is a good option.1) You have to hang your license with a broker unless you have a brokers license.
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7 February 2025 | 13 replies
A&D has a 2nd position DSCR but not revolving - installment only.AO has a HELOC but self-employment documented for 2 years is required.
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19 February 2025 | 6 replies
I'm not in Boston, but I post the asking rent and do not haggle.I've got a property manager to do my screening now, but when I self-managed I used SmartMove by TransUnion.
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11 February 2025 | 1 reply
It had a mobile home park component, self storage, commercial and industrial tenants but it was interesting figuring out how all the numbers worked together.
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13 February 2025 | 14 replies
If yes, LS is an easier market to manage and no restrictions with placing tenants...ever considered self mgmt?
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10 February 2025 | 10 replies
I currently own a successful short-term rental in Fort Lauderdale and have identified a new property nearby that I’m confident will perform well.