Zack Murphy
First deal: Efficiency
Efficiency in a condo building across the street from major urban university. "motivated seller" in ad title
List: $120,000 (down from 150,000 a week ago)
Currently rented @ $1300
taxes: $157
condo fee: $387
Expens...
Pat Dansdill
Thinking through the logistics of BRRRR
Hello all,I would like to use the BRRRR strategy on a property, but don't fully understand the details-any help is appreciated!1-Am I wrong in assuming you can buy a physically distressed property with only the down p...
Fallon Gilbert
Cannot find a lender. Please help!
Hey all,I’ve been having an extremely hard time finding a lender for my situation. I have 3 properties that are owned free and clear however the values are less than $75,000 each which most lenders will not do a portf...
Laura Levine
Need advice for refinancing out of a 5/1 ARM in NJ
Good morning! My husband and I bought a fixer upper duplex in 8/14 with a 5% down FHA 5/1ARM at 3.75% (we are living in one unit). We did a massive reno on it and should now have the 20% equity needed to refinance a...
Scott Taylor
Clarification on "HBP" Tax Liens in Baltimore
I've been looking at tax liens in Baltimore, but don't quite understand the "HBP" - the "High Bid Premium". Here's a quote from the FAQ:"In Baltimore City the high-bid premium shall be 20% of the amount by which the ...
Mark DiPietro
Self directed IRA monies
I am curious, if you use a self directed IRA in a BRRR strategy, when you refinance the house, can you take some of the proceeds out as cash; or, does it all have to stay in the IRA?
Ted DeKowzan
Brrr or 1031 exchange
Hello BP Community,I’m going to lean on you for some more advice. I own a portfolio of rental properties with a significant amount of equity. I was able to buy them below market rates and build more equity by rehabbin...
Rob Brown
5-15 unit apartment financing - best lenders / banks
I'm looking at a few 6-15 unit apartment deals in San Diego County. I've talked directly to bankers at Chase, Wells, and somebody experienced at Cushman Wakefield who is a loan broker. All of them say under 750k loan...
Nick Choruby
Cash Rent, No Evidence - Red Flag?
Seller has 7 single family homes and wants 100k each. He claims the rents are all $1000 a month, but has never used leases, collects cash only, and won’t provide bank deposit statements or any form of evidence. Won’t ...
James Sanders
Understanding the BRRRR strategy
Hey guys/gals
I just had a quick question regarding the BRRRR strategy. How exactly does the cash out refi work?? If you say bought a house for 100k and put 50k rehab into it and cashed out at say 200k how do you figu...