My intent is to use the hard money loan for the acquisition of distressed, non conventional qualified properties, then stabilize them to a long term conventional loan and pull out the forced equity (essentially BRRRR).The couple mortgage brokers that I have talked to have told me the following:1.

You now have what is essentially your break even price where if you bought at this amount you'd at least have no money left in the deal (refi) or have broken even (sale).

I essentially thought of everything that could be set up ahead of time to drastically reduce the upkeep.

The first thing I do when evaluating a potential deal is to run a quick CMA within .25 or .5 miles of the subject property while filtering for # of bedrooms/bathrooms, sq. ft., year built, etc...

Purchase price: $410,000 Cash invested: $60,000 Sale price: $535,000This 3 bedroom, 2 bathroom brick bungalow is located in one of the most desirable neighborhoods in Central Phoenix, the Willo Historic District.

Like I said all the house are similar in sqft, bedrooms,bathrooms, price and rental income.

Bedrooms have nowhere near the wear of other rooms and carpet feels better on your feet in the dead of winter.Another option worth considering for kitchens and bathrooms is loose lay vinyl sheet flooring.

It’s like grocery stores putting a sign in the bathroom that says all employees must wash their hands.

Look at how it calculates its estimate- it asks for the number of bedrooms but it doesn't ask for the number of bathroom nor does it ask for square footage to finds its comps within half mile radius.

It allows you to essentially take money out of your house.