All Forum Posts by: Brett K.

Can anyone lend you the money; personal loan?   For lending purposes they better be your 'aunt' or 'uncle' or another fairly close relative.   Relatives are allowed to 'gift' you money.   

Greg Nalley is a local agent with a lot of good niche products.  Affable, knowledgeable, and good pricing.  Full disclosure, he's my brother-in-law however I wouldn't recommend him if he wasn't good.  If you send me a private message I'll give you his tel. #.

Basically the BRRR strategy but designed for building a portfolio fast- You can look for properties needing work in adequate rental areas. The property will need to appraise for 20% higher than your all-in cost when you are finished fixing it. That way you essentially get a rental property without tying up your money long term.

Example: Find a property needing work in a suitable area. For simplicity the purchase price is $60k and it costs $15k to get it rent ready. Once it is fixed-up it appraises for $100k. Most lenders will finance rentals at 80% LTV so you borrow $80k, you pay yourself back, and you pay off the short term loan (assuming you needed one). Repeat. Obviously it's got to cash flow too.

I'm sure you could find some areas in Atlanta that would be a good hunting ground for these types of deals.  

I think BRRR also applies to longer term strategies too since the last 'r' for 'refinance' could be years out. This is a more expeditious tactic. Maybe this should be called the Fast BRRR?.

Your local MLS will have your local data. It's possible for an agent to download it into a .csv file so you can put it in excel. I do it all the time.

Hi Brad,

If you haven't read it yet, The 4 Hour Work Week is an important book.  It will make you rethink how you are spending your time.   It's on audible.  

I just scheduled another get together.  This is a relaxed atmosphere and it's easy to meet people and talk shop.  We'll also be talking about wholesaling fundamentals and what buyers want from their wholesalers. 

New meet up scheduled for May 19th @ 6:30 PM if you can make it @Mike Vanover.  

Shawn, 

It depends on your PVA.  Just to remove any doubt try calling the PVA office and ask them.  In my market it's almost always a deed correction.  

Welcome to BP!  There's a meetup tonight if you are inclined.  

Hi Mike, welcome to BP.  This site is an incredible resource.