Kristy F. I

@Colleen F. I

While I have some sensibilities already in place from managing a property I won, I’ve been reading a ton about REI, reading many of the posts here and listing to the podcasts, honing my big picture understanding of the industry.Some “rule of thumb” figures keep coming up. “2% rent to value”, “15-20% cap rate” … I’ve been scouring the field nationally (calling brokers, meeting with agents, looking on MLS) and these figures seem close to sci-fi.

One for a cash out re-fi (can be a conventional mortgage which would be better terms), and one for buying the investment property (commercial loan department of a bank).If you don't need to finance any construction/rehab, I'd recommend republic bank.

Pros for cash buying:• You can often get the property cheaper because you can close quicker than someone attempting to buy with traditional fundings• You can do a cash out re-fi if you fix the property up and get it rented so that you can leverage that money on a new dealCons:• Your repair costs may be more than anticipated • Your money is now locked up in a deal and you may lose money if the deal goes south• Doing a cash out re-fi may take a while to get doneCash buying is a great way to employ the BRRR (Buy, repair, rent, refinance) strategy that is often talked about here on BP.

And I wish more BP members were more interested in doing things outside of Cash Flow...but the FI movement is thriving...not that wanting FI is a bad thing.

@Jill F. I

Hello everyone my name is Eric, I am an aspiring investor based out of Rock Hill, SC. I

Semper Fi! 

A free month or 2 of the first year, free wi-fi, big screens, etc.