All Forum Posts by: Brendon Grover

Thanks @Elbert D.

I agree with Nick that this is a personal choice overall.  If you mortgaged the property, you should include a vacancy percentage in your numbers therefore covering any unknown vacancies in the future so you wouldn't need to worry about that.  Insurance covers assets...that's what its all about.  While I agree it could be beneficial in the short term owning a property outright, you would have to crunch numbers with some other property estimates.  Compare the cash flow of owning multiple properties with mortgages with owning one property with no mortgage.  Use the calculators here on BP, they are awesome. 

Patrick Donovan, Thank you!  I did research on the 203k loan and this is exactly what we are going to do.  Possibly Refi when we move out and pull out some cash for another investment.

Good day to all, I thought it would be a good idea to have members post on here all or some of the known websites they know and use to find real estate deals. I know I do not know all of the sites and I am willing to bet most people out there would find new ones this way too! Feel free to post!

Any luck in the market yet Travis?

Good day to all, I thought it would be a good idea to have members post on here all or some of the known websites they know and use to find real estate deals.  I know I do not know all of the sites and I am willing to bet most people out there would find new ones this way too!  Feel free to post!

would it have been beneficial to have a GC and crew to flip the house so your time owning it would be minimal?  Good information.  The product looks amazing, one of the better ones ive seen here on BP. Great taste and style!

Hello to all, I came across a situation today while trying to make moves on my first ever rental property purchase that I wanted to share to all new REI's and get some advice from experienced ones as well. I came across a HUD home listing that was a perfect match for me and wanted to get pre approved for a loan on it. I looked up FHA 203k loans but did not notice that they are only for primary residences. This property I wanted to use it on was planned to be a BRRRR strategy. It was going to need between 10-20k in rehab costs. My question to experienced investors is this; How does someone get an escrowed rehab loan, especially if they do not have or know anyone willing to private lend thousands of dollars to them? Thanks

My family and I are also selling our primary residence this summer.  Freeing up cash and losing the liability of expenses associated with owning a home will get us debt free rather quickly to restart our lives with financial intelligence. We plan on purchasing a small multi and living there for free essentially while i start building my portfolio. Once when people realize to start buying assets instead of liabilities and know the difference with they begin to see financial freedom. Good luck to you and yours. 

A turnkey property for 85k?  Looks like a great market area!  Those numbers feel promising, I wish you luck on #2 and thanks for posting!