All Forum Posts by: AJ Satcher

Does it make sense to just sell? Also on a side note... how long was the seasoning period for you to qualify for a cash out refi?

Hey everyone! I took some time off from my typical in depth Real Estate research to focus on starting another side business, but now I am back and ready! Only problem is... this market now LOL.

I wanted to see what others are currently doing in preparation of this major market decline. Are you holding off? Or are you still finding creative ways to make your strategy work?

I'm not gonna lie, I am a bit concerned about the market currently. I had ambitions to do a BRRRR this year but with interest rates AND home prices so high, I think it will be very, very difficult to see the numbers work. My second thought is just to go ahead and get another conventional mortgage, put 3% down move into that - rent out my current home. Of course this is the very slow way, but it will make me feel like I'm still making progress. My third thought here is to wait things and continue saving, but with this I'm making no progress.

Give me your thoughts please! My wife and I have roughly $40k saved up. It's been a year living in our primary home. We are located in Atlanta, GA :)

 Yea I 100% feel you, I'm on the same page with you. I think this was a good question still for future reference you know? Especially as I scale up in properties, I want to make sure I'm avoiding any legal issues!

Hello everyone!

My wife and I are renting out our home while we travel for work. We do month to month rentals and are on our third tenant. First two so far so good! I just finished screening our third tenant and wanted to know if I can legally question them on the items on their report?

Credit history is decent, no eviction history. There are 2 criminal records. Although any criminal activity is never good, these records just show some misdemeanors from 5 years ago - Driving on a suspended license and no seatbelt violation (which seems like a spiteful add on by the officer situation, maybe because of confrontational dispute).

I was thinking I could just briefly ask about the situation, if I have the authority to. If I feel uncomfortable about renting to him then I will deny. But if I don't deem it to be a detrimental situation, then I plan on moving forward. 

Thanks

 AMAZING response! Thank you for this! Theres a lot that can be picked from this... I've been reading a ton and I think my biggest concerns are with the Rehab part. 

The buy is fairly simple to understand to me, the ARV can be somewhat complicated but reasonable enough to understand (basically know your comps).... but when it comes to rehabbing.... quite frankly I have not the slightest on what that entails, how to estimate, etc. I am a software developer with 0 hands on experience with rehabbing or even being remotely involved in one.

 Would love to connect! 

 Hi Scott, thanks for the feedback. Id plan on doing the BUY-REHAB-RENT process in Q3 and the refinancing sometime the second half of 2023 (hopefully). 

 When you say financing, do you mean a refinance from a traditional bank? In terms of buying, I plan on using some of my own money in addition to hard money funds. From what I know so far, you can throw a rock in the pond and a hard money lender will pop up.

Hi all! 

I bought my first owner occupied property in April to get a feel of home ownership. Now, I think its time to step it up a notch. We have saved a good chunk of dollars since buying our first home and for our next investment, we really would like to scale using BRRRR.

I have a target date (April 2023) to have a deal under contract and begin that process. In the meantime, we (wife and I) are still saving and educating ourselves daily to be prepared when our time comes. This is absolutely nerve wrecking but we are committed! 

Any pointers for my first BRRRR? I'd also like to take this opportunity to build relationships with any lenders, agents, wholesalers, contractors, since you will all be KEY to our success! I'm in the ATL metro area but also willing to look at other markets as well!

 Hi Abigail, thank you! It's been over a year since I first made this post and its safe to say a good amount has changed since then! :) I see you're an agent. I'd love to connect @Account Closed