All Forum Posts by: Ashly McGlasson

We put 10% down, but have about 30k in the reno. We could refi, but would still be in the house. When our ultimate goal is to get out to do more deals (preferably house hack) 

@Ben Skaggs

We could refinance, but would still be stuck living in it. Rents here just don't go for what we would need in order to keep it as a rental. 

Anyone using the BRRR method, to what extent are you doing the renovations? Are you doing them to retail quality, or nice but rental quality? How do you know if rental quality will make it appraise for enough to refinance?

Hey everyone,

This might be a lengthy story, but I'm looking for advice! My husband and I flipped out first property in our small town about a year ago, we did alright for our first flip, but afterwards messed up by buying a house we planned on living in for a while and slowly renovating. Well, long story short, we got realized after we bought it that we could do a lot more deals if we wouldn't have bought this big or expensive of a house, so decided to renovate it and try to flip it. Turns out we didn't do enough research into the ARV and in our small town there just isn't many people buying house in this price range. Everyone that has seen it loves it, but no one has even offered on it. It's listed with an agent and we have it almost to our lowest price to break even after paying our agent and paying off our loans.

We have discussed pulling it off the market and listing it next spring since we are headed into the holiday season here shortly. But besides that does anyone have any other creative ideas to get us out quicker so we can do more deals? We have definitely learned our lesson with this one, but would like to get out of it at least breaking even! 

My husband and I are in Jacksonville and would definitely be interested in! 

Hi Samuel, 

There is a real estate investing group in Bloomington I believe. They have a Facebook group and meet monthly! Hope that helps you connect with more locals! Good luck!