All Forum Posts by: Alex Babayev

I have been in Atlanta market 10+ years so I have a well developed relationship with contractors. I used my own money to fund the rehab labor and materials. I design all of my properties myself. After doing over 100+ flips it comes as second nature at this point to design my properties. Follow me on insta for all my before and after photos @transformation_papi

Here is the link to before and after's

https://www.instagram.com/p/CJLe0XSjeoZ/?utm_source=ig_web_copy_link

You are correct is using a conventional Freddie Fannie loan their is a 6 month seasoning requirement you can avoid that requirement if you search for smaller banks who do 'portfolio lending" which means they lend out their own internal funds on deals like this and are not subject to fannie and freddie guidelines. 

Also this was a secondary party lender who is not subject to those guidelines as well as they use their own funds to buy the note and then sell the note on wall street. 

Yes, City is called Clarkdale, GA 

@Ryan Howell #iAgree - A guaranteed proven and tried method.

@Whitney Hutten Thank you! The BRRRR journey is the true joy the end destination is quite boring if you know what I mean!

Bought Oct 2020 today Feb 2021 (4 Months Total)completed a successful BRRRR

What’s that?! Read below

I paid $78,000 for it. Property was outdated and distressed. It needed a full revamp to bring it to 2021 standards.

New: Roof, kitchen, bathroom, flooring, appliances, HVAC, plumbing, electrical etc.

Originally the property was a 2BR 1BA however I stole some space from the living room to add an additional bedroom.

I knew I would need that additional bedroom when I went to do a refinance and the appraisal would boost my value if it was a 3BR instead of a 2BR

Total renovations cost me $40K

I got the property rented out for $1,285/month

Let’s Recap $78K purchase + $40K renovation = $118K Total all in cost + private lender costs

oh by the way I didn’t use any of my own money 💰 a private lender funded the entire purchase price for me! Oh and He agreed for me not to pay him any interest until after I refinanced the property so I had no expenses while I was in renovation mode except for the renovation costs labor and materials.

Private Lender $80,000 Loan at 10% annual interest = $666/monthly payment x 4 months I used the money = $2,666 interest I paid back to my mender so now my all in cost is $118K + $2.6K = $120,600 all in

I did a cash out refinance property appraised for $185,000 ( wow that’s $55K in instant equity 🤩)

Lender offered me up to 75% LTV $138,750 I could pull out but in order to get maximum monthly Cashflow I decided to only borrow $127,500 against the property

Now remember I am all in $120,600 and now at the closing table I am getting back $127,500

Wait a minute! I am walking away with $6900 in my pocket!! I am getting paid to own a house!! Yes ladies and gentlemen that is possible

Research BRRRR method

Buy, Repair, Rent Out, Refinance, Repeat

This is how you create infinite returns and how you own houses with $0 of your own money 💵

To summarize

Mortgage Balance $127,500

30YR Mortgage 4.37% interest

Monthly payment including Taxes & Insurance = $750

Rent $1,285 - $750 = $535 Net Cashflow in my pocket monthly

Remember I have $0 of my own money invested in the deal!

Time to go look for my next BRRRR deal! Talk soon ✌️ 🙏

This is your chance to set up 2020 and the rest of your life with financial freedom!
2 epic days of complete real estate investing training with everything you need to create a business and a lifestyle like you've only imagined before!
Come join Alex and the Money Up team for a weekend filled with action and education!

Dates: January 25th or/and 26th, 2020
Price: $295 per day or $499 for both days!
Venue: Anderby Brewing 110 Technology Pkwy, Peachtree Corners, GA 30092
Event Time: 9AM - 3PM

Day 1: Real Estate Investing Course for Beginners, Dreamers, and Aspiring Moguls

Day 1 will cover a multitude of aspects of real estate investing so that you can get acquainted and a feel for the virtually endless possibilities. This course is perfect for those that have been interested in real estate investing but haven't dived in yet, don't know where to start, and would like guidance from the real-life experiences of an expert. This training will kick-start your journey and show you real-world case studies to help you make informed decisions, and determine which form of investing is the right fit for you.

Day 1 Real Estate Investing Topics Covered:

✅Rental Properties
✅Flipping Properties (for a short-term financial gain)
✅Short Term/ Vacation Rentals (Air BnB)
✅Wholesaling
✅Small Multifamily Properties (10 units and under)
✅House Hacking/ Co-Living

Day 2: How to Build a Rental Portfolio to Replace Your W-2 Job

Day 2 is for those that want to eventually leave their corporate job and use real estate as the vehicle to replace their job income. I will teach you step-by-step how I built my real estate portfolio while working a 9 to 5 job. Learn all of the strategies and tactics I used to build out a rental portfolio that generates me over $10,000 a month in cash flow.

Day 2 Topics Covered:

✅How to leverage your W-2 income to help build up a rockstar real estate portfolio.
✅Financing Strategies
✅How to work with banks and lenders
✅The power of cash-out refi's
✅The BRRRR method ( Buy, Rehab, Refinance, Rent, Repeat)
✅Portfolio Loans
✅Why having a steady income from your W-2 paycheck is a huge advantage!

Link for tickets 

https://moneyupnowevent.phonesites.com/

Hello fellow investors and aspiring Real Estate Moguls, I would like you to join me for a live event that I will be hosting in January 2020. Please reach out with questions. 

Day 1: Real Estate Investing Course for Beginners, Dreamers, and Aspiring Moguls
Day 1 will cover a multitude of aspects of real estate investing so that you can get acquainted and a feel for the virtually endless possibilities. This course is perfect for those that have been interested in real estate investing but haven't dived in yet, don't know where to start, and would like guidance from the real-life experiences of an expert. This training will kick-start your journey and show you real-world case studies to help you make informed decisions, and determine which form of investing is the right fit for you.
Day 1 Real Estate Investing Topics Covered:
✅Rental Properties✅Flipping Properties (for a short-term financial gain)✅Short Term/ Vacation Rentals (Air BnB)✅Wholesaling✅Small Multifamily Properties (10 units and under)✅House Hacking/ Co-Living
Day 2: How to Build a Rental Portfolio to Replace Your W-2 Job
Day 2 is for those that want to eventually leave their corporate job and use real estate as the vehicle to replace their job income. I will teach you step-by-step how I built my real estate portfolio while working a 9 to 5 job. Learn all of the strategies and tactics I used to build out a rental portfolio that generates me over $10,000 a month in cash flow.

Day 2 Topics Covered:
✅How to leverage your W-2 income to help build up a rockstar real estate portfolio.✅Financing Strategies✅How to work with banks and lenders✅The power of cash-out refi's✅The BRRRR method ( Buy, Rehab, Refinance, Rent, Repeat)✅Portfolio Loans✅Why having a steady income from your W-2 paycheck is a huge advantage!

https://moneyupnowevent.phonesites.com/

Come network, learn, and discuss real estate. 

45 South Cafe
45 S Peachtree St NW,
Norcross, GA 30071

Can you insure my properties in Atlanta? If so lets connect @Jason

@Jason Bottundefined

@Rob Robinson @Akilah S.

I host a small group f real estate investors every second Tuesday of the month in Norcross.

I am a local real estate investor and can help you out and be a good resource.

Reach out to me and let's see how we can help each other out.

Meet up Held at  7PM every 2nd Tuesday of the month

45 South Cafe
45 S Peachtree St, Norcross, GA 30071