Dallas, TX · Member since 2021 · 13 posts · 11 votes
5y
Depending on where you plan on investing, 13k won’t get you very far as far as holding a flip. But again, that depends on the price point of the homes you’re buying. I’m in Dallas, and there’s no way I could hold a flip for just 13k. I would suggest for you to use that money and focus on ramping up your marketing and wholesale a few until you build up a little more capital.
Dallas, TX · Member since 2021 · 13 posts · 11 votes
5y
Depending on where you plan on investing, 13k won’t get you very far as far as holding a flip. But again, that depends on the price point of the homes you’re buying. I’m in Dallas, and there’s no way I could hold a flip for just 13k. I would suggest for you to use that money and focus on ramping up your marketing and wholesale a few until you build up a little more capital.
Dallas, TX · Member since 2021 · 13 posts · 11 votes
5y
@Monique Pett lol yes that's what I'm referring to! Homes are too expensive in Dallas for 13k to be the down payment here if you planned on purchasing it with hard money for the BRRR strategy.
Real Estate Agent · Oklahoma City, OK · Member since 2019 · 956 posts · 600 votes
5y
@Monique Pett I'm curious what market you live in? In OKC you may be able to get away with a lower end buy and hold with just 13k but it would take some hunting. I'm wondering if house hacking may be the best bet for you?
Rental Property Investor · Denver · Member since 2020 · 80 posts · 33 votes
4y
@Kiera Underwood thank you for your insight... just learning how to work these boards. I'm investing in the midwest currently, but I have friends in OKC w/property. :)
House hacking isn't a current option for me. I live in Denver. But working on it. :)
@Monique Pett I'm curious what market you live in? In OKC you may be able to get away with a lower end buy and hold with just 13k but it would take some hunting. I'm wondering if house hacking may be the best bet for you?
@kiera do you have a rental property calculator? I'd love to connect if so
Real Estate Agent · Oklahoma City, OK · Member since 2019 · 956 posts · 600 votes
4y
@Monique Pett I can for sure send you a quick calculator in excel. Happy to provide you with averages for vacancy, what I use for maintenance, taxes, insurance and can even send you some videos on how to best estimate rent rate here haha!