
23 August 2019 | 6 replies
When you factor in timing and convenience it looks like you might be doing them a favor.

23 August 2019 | 2 replies
Take the flip profits now, or BRRRR with a great interest rate and some cash flow... doesn't keep me up at night bc both options are great, however I want to maximize my time and profits.For any multi-units I am heavy in the BRRRR category, but I have a couple San Diego condo deals I am in contract on now and curious the thoughts from BP on which route is better... and I typically don't like holding condos long term due to the HOA and the low ceiling on cash flow, but another perspective I have heard is how easy they are as a rental.I got in to this for long term wealth #1 and short term profits #2... just an FYI.Condo #1:*This deal is under contract and ready to close in a few weeks using HM at 85% of PP and 100% of Rehab with 9/2.PP: $155,000Rehab: $30,000 - $32,000ARV: $260,000 with upside as nothing has sold in building in 2 yearsHOA: $300 a moRental: $1750-$1800PITI w/ HOA from Refi ~ $1,500Minimal VacancyBRRRR Pros: In a predominantly rental area, can 100% BRRRR and hold for $250-$300 a mo cash flow.Flip Pros: I'm licensed so it'll only cost me about 4% cost of sale Condo #2: *This deal is in negotiations with bank for Short Sale using HM at 85% of PP and 100% of Rehab with 9/2.PP: $150,000 - $200,000 (Discrepancy because we are negotiating... starting at 150k, closer to 200k will lean me towards flip vs BRRRR)Rehab: $28,000 - $30,000ARV: $295,000 HOA: $388 a moRental: $1800PITI w/ HOA from Refi ~ $1,600 or less, depending on purchase price/refi priceMinimal Vacancy, Brand new hospital being build walking distance, less cash flow but better area than Condo #1BRRRR Pros: In a predominantly rental area, can 100% BRRRR and hold for $200-$300 a mo cash flow.Flip Pros: I'm licensed so it'll only cost me about 4% cost of sale---TL;DR - Are condos good for BRRRR or better to flip and keep my rentals as multis or high cash flow SFR's

1 September 2019 | 8 replies
I have always leaned toward hiring property managers, but am currently listening to the BP book on managing properties to get a feel of what that might be like.
24 August 2019 | 5 replies
Definetly wanting to go with LVT flooring in the kitchen bath and living room wanting carpet in both bedrooms Im leaning towards my local hud/restore store for discounted materials. any suggestions where else I could go to for flooring material and paint.

27 August 2019 | 4 replies
I am leaning towards presenting a plan for a self storage business, but I am in need of some help from someone who has some experience with storage.

29 August 2019 | 7 replies
Once you do decide to procure your first rental, definitely lean on the BiggerPockets community as a resource; I'll also say that it could be worth considering a shot at a software solution built for DIY landlords (1 - 15 units) to bring some automation to the rental management process (just to make things much much easier for you)!

27 August 2019 | 13 replies
@Anthony Wick Thank you for confirming what I was leaning towards when it comes to these duties.

16 September 2019 | 7 replies
It was conveniently sold June of this yr: we got the judgment in May.

28 August 2019 | 14 replies
It's also good to keep up to date with legal changes (WA is starting to lean more and more towards tenant-friendly laws, especially the closer you are to Seattle).

28 August 2019 | 9 replies
I'm leaning towards leaving it be for now.Don't rock the boat.