We are in the beginning stages of educating ourselves and taking in as much information as possible.

Thank you but im talking about estimating potential rent before making offer on property in acquisition stage.

I like the BRRRR strategy and am in the early stages of my first BRRRR and would be happy to share what I learn through the process with you.

Finding out at this late stage is pretty sad.

Would a loan officer mind talking to me even if I'm not quite at the stage of considering to buy yet?

This property is in the final stages of rehab, and we are hoping to have it refinanced and leased in the next 30 days.

At your current stage, you have some experience as to what to do and how to do it to make some cash-flow happen. 

You should be able to try and apply for the PPP loan, with it being this late in the stages of COVID-19 there maybe still some banks giving them out; however, many banks have stopped giving out the loans due to funds from the FED coming to a stop. 

I want to start investing in real estate within rental properties.One of the properties I’m interested is as follows:- The property is located close to an elementary, a Walmart and a university- The property current asking price is $340,000- The property is 4,778 square feet • 1,194 per apartment built in 2006- Currently the property is currently leased for 750$ each and is generating $3,000 per month - The property has a potential to have the rents increased to $850 meaning $3400 in total based on the surrounding rents being charged around in the market- Estimated monthly cost$2,227- Principal & interest$1,508/mo included with no down payment - Mortgage insuranceNot included since not required by VA loan-Property taxes$550/mo-Home insurance$119/mo-HOA fees$100/moGarbage lawn care and other services-UtilitiesTenants pay for utility bills- $2,250 a month in total on average I plan on living in one since VA loan required me to vacate one apartment...depending on the rate of the income and the amount being generated and with the steady flow of tenants I can continue to get another apartment in the near future- At the moment it is generating $3,000- Since I’m living in one, the amount generated will be, $2,2503000-750= 2,250- Enough to pay off the property expenses and live for free - if I increase the rents based on the location to $850 I will be generating $3400 but again since I’ll be living one I will be making $2550- so 2,550-2,250= 300- $300/mo will be generated in cashflow every month CAP rate of 6.7%- When I’m able to rent the 4 plex fully the total cash flow would be $1,150/mo with a total CAP rate of 9.6%After a year or two of seeing steady tenants and rent increase I will do the same process but this time I will not be living in one generating the full amount having more cap rate within my second property and have my money generated within my job to be able to back up the payments in case of vacancy and repairs- GoalInvest in real estate and have my money generates throughout my income to maintain a propertyOwn 5 properties within 5 yearsBuy 4 plex’s 20 rental apartments in total in 5 yearsIs this too much or should I look for something smaller to start off with, and does this seem like an attainable and realistic goal according to my calculations.

The option of selling now and buying ASAP has come up but this would put other constraints and stress on us that I think would be just as if not more difficult (stress of prepping, staging and showing WHILE residing here, which means moving all our stuff around for paint work, carpet cleaning, etc.