Back in 1947 (the area code’s launch year), AT&T decided arbitrarily that big cities with large populations (i.e.

Originally posted by @Jaquetta T Ragland:@Andre M.

It was/is a project and I didn't want to delude you it is a snap.A simple split between two would be less for the power plant and hot water heater--say 10K-12K total to be safe. t seems straightforward but I bet you are closer to 20K than 15 when all is said and done. 

t=9m52s

I´d say you can try and do something but many don´t bother wasting time and consider it a learning experience.

Originally posted by @Michael T Eckerman:I'm new here.

Definitely a favorite and I love the down-to-earth, no bullsh*t aura throughout the episode.

Here is how the numbers played out:Purchase Price (cash from HELOC on primary residence) - $74,500Rehab - $14,300Holding Costs - $1,200ALL IN COSTS - $90,000Appraisal - $123,65075% LTV Loan minus Closing Costs - $90,037So after the 30 yr refi (conventional 30yr fannie/freddie rate term 3.37%), I have invested $0 of my own money in this property and its cash flowing $330/month.Somehow my first BRRRR strategy worked out to the T and I have zero of my own money into this property which is awesome.

I got approved for a loan from M&T bank with no commercial ownership experience whatsoever. 

I have heard (from a BP podcast) that when the IRS hears "home business" they sometimes like to audit that person so ensure all your "t"s are crossed and "i"s dotted!