All Forum Posts by: Adam Egloff

I am unable to attend this one unfortunately. Keep me posted on the next one though and thanks for the invite!

Hello!

I bought my first SFH in the Birmingham area and just got a tenant July 1st. I am trying to do the BRRRR method and paid cash, did the rehab and now I'm trying to refi to get my cash back out. All the banks I've called require a 6 month seasoning period. Does anyone know a bank that could do it now? I'd like to get started on the next one.

Hello,

I'm currently working on getting my first property and I just wanted to get some opinions on whether or not this is a good deal. It looks to me like it is even if the cash flow is a little lower than I was hoping but the cash on cash return looks pretty solid. Any thoughts are appreciated! Thanks

Dang I just saw this and it already happened! Please let me know when the next one will be, would love to meet some like minded people!

@Jaysen Medhurst Thank you that is most helpful!

You guys still in the area?

So when plugging numbers into the calculator to analyze a deal, if you are trying to just do a quick one to see if its worth further looking into, would pulling the tax and insurance numbers from the mortgage page off zillow get you in the ballpark or are those completely different numbers than what we are looking for? There is also a price history/tax page that has property taxes on it which is different from the tax one from the mortgage page. Have you found that that is reliable for the tax line or do you always have to go to the county page? I would think an insurance agent would stop responding after asking him to quote 50 different properties...

Thanks for all the input guys! I have since realized that starting in a "war zone" seems tempting due to the cash flow numbers but the more I research, the more it seems like a horrible idea. I am currently doing more research on the BRRRR strategy which sounds like a great way to do this. I'm thinking of looking for 2 beds/1 bath that have over 1,000 sq ft which could easily be turned into 3 bedrooms and going that route instead of the multifamily to start. Any contractor or property management company recommendations?

Just checking to see how this project turned out price wise and also the one for Karen in Boulder. This would be a good idea if the price was right.

Thanks for the input! Is the Bricktown area already to far inflated or are there still deals to be had? I've been reading about some revitalization projects across the river in the Capitol Hill neighborhood. Obviously it won't appreciate any time soon but ten years down the road perhaps? This would be my first deal so trying to get my feet wet relatively inexpensive. Also, does anyone have any realtors, management companies or appraisers they would recommend? I appreciate the feedback