All Forum Posts by: Rudy Brown

Hello @Jon Huber

I am a 3 year investor looking for networking opportunities as well. Can you send me the information for the meetups? Thanks in advance! 

Hello everyone, 

I am in the final "R" of the BRRRR strategy and I just received my estimated cost to close. It seems really high to me. See below:

Loan Amount = $127,500

A. Origination Charges = $2186.88

B. Services Borrower did not shop for (Appraisal)= $875.00

C. Services Borrower did shop for (Title) = $2487.75

D. Taxes and other Government fees = $948.25

E. Prepaids = $153.70

F. Initial Escrow Payment at Closing = $2304.12

TOTAL = $8995.70

Doesn't this seem astronomically high to you? Thanks in advance! 

Lesley, 

I am interested in this property can you email more information to [email protected]? Thanks! 

@Brian Garrett Let's connect! I just saw we are in the same area. 

@Brian Garrett Thanks for your response! What type of financing would you source upfront (on the rehab side) that would allow you to put 20% down? I know of HML or portfolio, but I rather not pay 12-15% interest and portfolio loans are hard to come by. Thanks again!

Thanks so much for the response guys! I do have a W2 job but fortunately I have either 3 or 4 days off a week. My main concern with BRRRR is the slow (upfront) growth/income generation. Also, correct me if I'm wrong, but you are almost always going to have a reduction in cash flow with BRRRR once you refinance as I understand it? Thanks again!

Hello BPers, 

As the title states. I just got a HELOC for 100k and I have about 60k of my own money to invest. I love the BRRRR strategy but finding a killer deal in my competitive South Florida market is nearly impossible. Additionally, with a 120k budget, I would only be able to fund one property at a time. That being said, would it be as advantageous to spread my money out and put 20% down on 4 to 5 properties (Traditional) as opposed to 1 property with BRRRR? What method can I scale quicker with? Thanks in advance!

Absolutely gorgeous! 

Nice to meet you guys! I am a new cash investor in West Palm Beach. In my experience, it has been difficult finding rentals that are not in Class D neighborhoods that meet the 1% rule. However, as Cody explained, the 1% rule is a very quick tool to tell you whether or not a property will cash flow, be sure to dig deeper if you are seriously interested in the property. Happy hunting! 

 This is a great idea but it seems as though it would be an awful lot of moving parts. I will inquire about it with a lender. Thanks for the advice!