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19 August 2019 | 3 replies
@Tracy Smith A brand new build-still under construction with mold and leaks.
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12 September 2019 | 19 replies
Oftentimes people here about so and so who did 100 units in a 100 weeks or a 100 deals in a 100 days and it is completely unrelatable to 99% of the audience.
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24 August 2019 | 16 replies
You could bet on Tysons area the power CBD here, gap between brand new condo and older ones are not logical, eventually old ones will go up, but no cash flow here.
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24 August 2019 | 15 replies
@Patrick Zane McLure you would exhaust yourself too fast because in this short term there isn’t much income.I would take a 30 year loan, work on the terms when you resell the property too so every person gets its cut.Take a c or b- building that are a bit run down, multi units are very easy to increase value fast when you fix them up (lot of multi units that are worth 700k when they were bough were sold for double after 1-2 years - read about the repositioning multi unit strategy)Read books about it before diving in, some multi unit that look renovated and brand new are usually not a good investment because theres no value to add to them and increase rent)
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18 September 2019 | 11 replies
I doubt they apply.I have a new place coming online today so I have to start the showing process and answering all the dumb questions.This looks brand new and I have the rent set high to hopefully weed out the people who don't qualify in the first place.
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24 August 2019 | 4 replies
Brand new to this process and starting on my "Plan".
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3 September 2019 | 24 replies
Not for your or I, but for the majority of the BP audience- the new to newish investor that doesn't have a ton of time to commit to this endeavor?
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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
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28 August 2019 | 21 replies
For some brands, you can find a parts diagram with part numbers; other brands keep these secret.
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28 August 2019 | 16 replies
Through their actions, they have literally branded the house to be "toxic."