Quote from @Christopher Johnson: We currently have tenants in a townhouse which we would like to sell in Virginia.

Lee Ripma was our agent and couldn't recommend her enough.

Lee Ripma was our agent and couldn't recommend her enough.

@John Lee why are you using a hard money lender to refinance? 

@Joe Lee, if your main priority is for the asset to appreciate, ideally you should be targeting submarkets 30 to 45 mins away from major metropolitan areas.

@Kevin Lee, I would ask if the 80% equity in your own home would cover the cost to acquire the Quadruplex?

Are ya'll seeing the 1% rule met for example or purchasing at 70% ARV etc...Beds/Baths: 2-3 BedroomSize: 700-1900 sqftCash Flow: >$100 cash flow1% guideline (not rule) on rentsExample: $100,000 purchase price$100,000 * .1 = $1,000 minimum rent for property75% guideline (not rule): ARV * .75 = Max offer minus renovation costsExample: $100,000 ARV and $20,000 renovation costs$100,000 * .75 = $75,000 - $20,000 = $55,000 maximum priceBonus: Good area near good schools or hospitalBonus: Extra square footage to add additional bedroom etc… to add valueBonus: Unfinished basement or other area for opportunity to add valuePreferred Areas Ranked:Kansas City Northland AreaLiberty and Lee’s Summit AreaLiberty AreaLee’s SummitMidtown and Plaza AreaIndependence, Raytown and Grandview AreaIndependenceRaytown and Grandview

@Tina Lee for most of our investment years we have self maintained.

Are ya'll seeing the 1% rule met for example or purchasing at 70% ARV etc...Beds/Baths: 2-3 BedroomSize: 700-1900 sqftCash Flow: >$100 cash flow1% guideline (not rule) on rentsExample: $100,000 purchase price$100,000 * .1 = $1,000 minimum rent for property75% guideline (not rule): ARV * .75 = Max offer minus renovation costsExample: $100,000 ARV and $20,000 renovation costs$100,000 * .75 = $75,000 - $20,000 = $55,000 maximum priceBonus: Good area near good schools or hospitalBonus: Extra square footage to add additional bedroom etc… to add valueBonus: Unfinished basement or other area for opportunity to add valuePreferred Areas Ranked:Kansas City Northland AreaLiberty and Lee’s Summit AreaLiberty AreaLee’s SummitMidtown and Plaza AreaIndependence, Raytown and Grandview AreaIndependenceRaytown and Grandview

Hey Christopher, I used my VA and will be doing a cash out refi to conventional to free up my VA for my next purchase.