Minnina Smith
Just Starting Out & Have Questions
20 November 2024 | 19 replies
Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.
Chris Lee
Mixing MTR and STR, and value of having a direct booking website
19 November 2024 | 1 reply
If you’re exploring options, look for a system with an API that connects to tools like Zapier or Make.com.
Richard Foltys
Seeking Advice on Best Long-Term Investment Locations in the USA or Caribbean for STR
21 November 2024 | 8 replies
I'd suggest narrowing down to a few markets to explore, then reaching out to investors in those markets versus throwing a wide net.Cheers!
Jiovani Motsebo Nengoue
new member for Richmond VA
18 November 2024 | 5 replies
To invest in Richmond, join REIAs, engage on social media, attend events, learn from resources, connect with agents, explore neighborhoods, and connect with professionals for appreciation, rental demand, and strong cash flow.Good Luck!
Michelle Sharko
Home equity loan
19 November 2024 | 6 replies
Maybe exploring options like a home equity loan or a personal loan from a credit union could be worth considering.
Lucas Schlund
How Much Cash Do I Need To Put Into My First BRRRR and How Much Should Be Financed?
21 November 2024 | 23 replies
Let’s break it down with your example and explore the financing options.Max Leverage (Using a Lender for 90% Purchase and 100% Rehab):Purchase Loan: 90% of $80,000 = $72,000Rehab Loan: 100% of $25,000 = $25,000Total Loan Amount: $97,000Your Cash Investment:Down Payment: 10% of $80,000 = $8,000Closing Costs and Fees: Estimate around 3-5% of the purchase price = $2,400 - $4,000Holding Costs: Property taxes, insurance, utilities, and interest during rehab (estimate $1,000 - $3,000)Contingency Fund: 10-15% of rehab costs = $2,500 - $3,750Total Cash Needed: $8,000 (down payment) + $2,400 - $4,000 (closing costs) + $1,000 - $3,000 (holding costs) + $2,500 - $3,750 (contingency) = $13,900 - $18,750Moderate Leverage (Using a Lender for 90% Purchase and 0% Rehab):Purchase Loan: 90% of $80,000 = $72,000Your Cash Investment:Down Payment: 10% of $80,000 = $8,000Rehab Costs: $25,000Closing Costs and Fees: Estimate around 3-5% of the purchase price = $2,400 - $4,000Holding Costs: Property taxes, insurance, utilities, and interest during rehab (estimate $1,000 - $3,000)Contingency Fund: 10-15% of rehab costs = $2,500 - $3,750Higher Equity (Using a Lender for Less than 90% Purchase):If you decide to put more equity into the deal by using less leverage, you will need more cash upfront, but your loan amount and, subsequently, your interest payments will be lower.
Cameron Chambers
Anyone in the forums from Canada?
26 November 2024 | 127 replies
For my thesis, I'm conducting research into the practices and motivations of small landlords in Ontario to explore how various social and economic factors influence their business strategies, day-to-day property maintenance, and tenant interactions.Could anyone refer me to someone who might be interested in participating?
Homero Matzenbacher
New member looking to learn lots and network!
18 November 2024 | 4 replies
Explore neighborhoods with good schools, low crime rates, and rising home values.
Matt R.
Bitcoin is 10k again what are you going to do now?
5 December 2024 | 554 replies
You are actually better off as a Bitcoin investor if nobody accepts it, because then nobody sells it.The second goal is for the government to explore a crypto based USD.
Brian Felczak
Real Estate Advise and Education
19 November 2024 | 2 replies
Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.