All Forum Posts by: Anan Smith

@Chris Mason got it! Thank you!

Go up to the Education tab in the top menu and look for Bigger Pockets Podcast. You can also subscribe to the BP YouTube channel and listen to them there. 

@Chris Mason Do you mean mostly no one absorbs the closing costs into the loan on a refinance, but if it is done, it is absorbed into the interest rate, not the loan balance? I'm thinking about how to leave the least amount of cash in the deal. 

Hi @Greg Robinson. Welcome! It's definitely a great place to get started. 

I would suggest visiting the podcasts and going through those whenever you can. 

I would also take a look at this list of books if you looking for some books https://www.biggerpockets.com/blog/wp-content/uploads/2018/11/Best-Real-Estate-Books-Ever.pdf. 

The forums are great for answering questions I have. I search them when I have a question because most likely someone has already asked it. 

Lastly, check out the events page to see if there are any meet ups in your area.  If not, look into attending your local real estate investor's association's meetings.

Thanks @Ilidio Cardoso

When doing a BRRRR, it is my understanding that you're limited to pulling out up to 75% of the ARV. I am correct in thinking that when when refinancing, if I wrap the closing costs of the refinance into the loan, as long as it does not exceed 80% LTV I do not have to pay PMI?

@Brandon Penn awesome! Congratulations and thanks for sharing this story. It truly inspires anyone investing or wanting to invest.

I would get at least 3 other quotes on the job. In my experience it is the only way to know the true cost of it. If they all come back in that range, at least you know that's the going price. As you do the walk through with each person you call, you'll get a sense of what really needs to be repaired. Then you can choose the best option. Maybe it is not as bad as that first company made it seem and a carpenter/handyman can fix it. 

Great post. Thank you!

@Carl Crump awesome! Congrats! Looking to make first deal. Will be taking notes from this. Thanks for sharing.