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10 September 2021 | 0 replies
Hello guys,Recently acquired a 2 family.Tenant should be moving in soon.The process went over budget (more than expected).The result is I am carrying credit card debt.I have a plan to pay it down to zero that will work just fine (the avalanche method).I would like to speed up the process though and pay less interest in the process.My credit score has dipped as a result of the credit card debt (to around 624).So may not be eligible for a 0% balance transfer or personal loan.Ultimately I want to get my credit score back into the excellent range for when I refinance out of the FHA loan.Any hacks or tips that anybody could share would be greatly appreciated.Thank you in advance to anybody who has any advice to offer.No canvasing please.
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14 September 2021 | 2 replies
This forum is mainly for BRRRR method techniques and questions.
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13 September 2021 | 13 replies
I would prefer also, to do the BRRRR method, to get my money back for property #2.
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22 September 2021 | 13 replies
It is in another state (Detroit), is tenant occupied, and needs many repairs (new roof, electrical work and plumbing to name a few).
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14 September 2021 | 21 replies
Especially if you use the BRRRR method, you can pay back that HELOC after you finish the cash out refi
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20 September 2021 | 7 replies
You could have two properties when just using standard methods available.Another reason to not BRRRR your own primary home is that I can find plenty of homes on the MLS that DO NOT fit the BRRRR method but fit my primary home requirements.
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12 September 2021 | 2 replies
For us, this method kept property in the LLC and simplified the 1065 filing.
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5 October 2021 | 6 replies
Some states don’t recognize email as an acceptable method of delivery, so late rent notices should typically be delivered in person or sent via certified mail.
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14 December 2021 | 2 replies
I've had it go both ways with different banks, but I usually don't like illegal units so it's not something I've encountered often.The value for refinance purposes will be determined by an appraisal, which will use three methods - the sales comparison method, the income method, and the replacement value method.
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16 September 2021 | 1 reply
Coming from a newby investor here, what are some of things that experienced investors do during the Rehab stage of the BRRRR method?