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Results (10,000+)
David Vaughn Seasoned investor new strategy
15 May 2024 | 7 replies
I think you got a lot of good things going on as you are your own contractor and most likely be able to cut cost in your rehab..I believe your questions is pertaining to how it cashflows and what are some things to look for as you continue to BRRRR..
Dylan Lersch Wait to build credit or try to buy a investment property now
16 May 2024 | 32 replies
there's no buying a BRRRR deal with $0 - you need cash to buy, and then you need cash every month to pay the holding costs and service the debt during the rehab.lots of things are making BRRRR tough right now, especially the increase in interest rates and the fact that prices have leveled off. if you did a BRRRR in 2020 and just waited 12 months, prices would go up, and that would help your appraisal. that is not the case anymore. other factors are making it difficult too - there is lots of competition for deals, both on and off market; lots of good contractors are booked up; and lending has tightened a little, and it's harder to get a higher LTV.so just to be clear: -BRRRR requires lots of cash - it's way more cash intensive than portrayed-BRRRR is not a cash flow strategy - you will end up with a break even property-if done right, you'll wait 3-12 months to get some (or close to call if you really crush it) of your invested cash backI know this wasn't your exact question, but I had this typed up for another thread and thought it was relevant herehope this helps
Curtis Cecil BRRRR or buy multiple at one time???
15 May 2024 | 8 replies
Also, don't forget to properly factor in renovation costs, as unanticipated spending might throw a wrench in your plans, and consider Chandler's market feel to determine whether it's more renter-friendly or leaning toward buyers.
Lacey Burns Who has used Royal Legal Solutions?!
15 May 2024 | 10 replies
Here are some diagrams to help you in your quest for answers on this subject:Asset Protection Decision Diagram - to help assess the need for asset protection, and what to implement : https://www.biggerpockets.com/files/user/CosIorg/file/asset-protection-decision-diagramAsset Protection Onion Diagram - what, when and at what cost one should implement in terms of asset protection - https://www.biggerpockets.com/files/user/CosIorg/file/asset-protection-onion-diagram-v2What is needed for a complete asset protection OR the domains that need to be intersected to find asset protection
David Sanders Condo-Hotel vs Condo Numbers Check
16 May 2024 | 2 replies
So my conclusion was that the condo-hotels are more so set up for personal use, with the ability to offset SOME of the costs by renting out the unit while you're not there.
Yakir Aloni Help pls with first brrrr
15 May 2024 | 3 replies
Hey guys i need you help here and i need some of your experience pls...I'm on contract of my first brrrr with hard money loanAnd i want to know thatcif i change the roof now and fixing the crowl space That will cost me to do both of the things around 20k I running the numbers and i can get the arv that i need buy my question when the aprizel coming after we finish to renovation the house with this to major fixing issues that he coulcaite with this 2 major fixing to his numbers for the arv or not ?
Nathan Frost Overleveraged Advice Please Help
14 May 2024 | 125 replies
Map out your end game or expectations.
Mark Chambers Buy out inherited property
16 May 2024 | 12 replies
The idea is to do 3-6month leases for traveling professionals so we can actually use the house and to offset our cost.
Matthew Hoffmann Writing a creative commercial offer
13 May 2024 | 7 replies
Do you have any skin in the game
Sam Booth Can I get conventional lending...
15 May 2024 | 11 replies
The lender will need to send an appraisal out to see what the estimated ARV (after repair value), in order to make sure that the ARV is above the cost acquired for that house + land.