All Forum Posts by: Brian Bohrer

 Hey Jourdyn,

My first question, is what has changed in 3 months that increased the value by over 41%?  

Either way, if you can get in at $120K, renovate for $100k and then sell for over $300k then it should be a no brainer!  But, I know many times the renovation is going to cost more than anticipated and who know what will be discovered along the process that will need to be addressed as well.  I would figure $150k on renovation to give you a buffer.  Are you in a position to have a contractor go and look over the property to give you a better idea of costs?  Also, consider the holding costs for time needed to renovated as well.

I hope this helps and good luck on your real estate journey!  Take Care,

Hey Adam,

I am glad to hear you have made the best decision of our life to invest in real estate!  You are definitely in the right place to find a wealth of information and to network with like minded individuals.  Have you check out meetup.com yet?  There should be some great real estate investment focused groups to check out which will help you on your first steps of meeting local investors that love talking real estate!  There are also many meetups that organizers promote on this forum as well.  

Get to searching for local REI groups and dive in!

I wish you the best on your journey! Take Care,

Hello Jude!

I am a newer agent who went full time into real estate in early October of this year.  I cannot give insight as someone who dabbled in real estate before jumping out of my W2.  But, I can tell you that most agents that I have spoken to about commitment to the profession say that to be a success you need to "burn the boats at the shore".  Meaning that if you want to truly be successful at your full potential then you need to burn your exit strategy by quitting the day job and diving in 100%!  

If this is not do-able for you at this point in your life, then you should continue on your current path until the real estate income is able to support your minimum monthly expenses and then make the commitment to full time real estate.  Change is always scary, but if you truly give it your all, there is not reason you cannot do it!

I wish you the best on your journey!  Take Care,

I love this!  I was just staring at that same graph last week thinking about how bad the alleged  "Crash" could really be.  Great stuff!

What a great outside the box strategy!  I love the arbitrage of working a higher paying job from Chicago remotely while taking advantage of the comparably lower cost of real estate in the Colorado Springs market!  I am currently working on my own house hack in the Springs and hope to share some similar results myself!  Keep crushing it Brad, and thanks for the post @Ben Einspahr!

Have you considered hard money or a DSCR Loan? Debt Service Coverage Ratio Loans allow you to finance based on the projected income and not solely on CMA's and your credit history to underwrite.

I wish you the best in your journey!  Take Care,

 I think you have given yourself a great time frame to get yourself ready to buy the right property in the right location or the right price!  Do as the others suggested and dive into what draws your interest the most in the forums and on the BiggerPockets Podcast.  One day it will all click and you will be able to pounce on your prey like a majestic Tiger in the jungle!

I wish you the best on your journey and please reach out if you ever have any questions!  

Take Care,

 Hey Mollie,

I think that is a great idea! I heard on a podcast once about the large ratio of baby boomers who own small multifamily and SFH's who are looking to get out of the business in the next 5 - 10 years. This could provide you a great opportunity to stumble upon someone who is possibly looking for an exit from the market soon. Just stick to your buying criteria and something is surely going to come along!

I wish you the best!

Hey Anthony,

If she owns the home free an clear, she could owner finance the home to you.  You will need a lawyer to draw up the documents, but this would give her the ability to earn some money and you would not have to come up with a large down payment.  You can jointly agree on terms in regards to the down payment, the interest paid and the number of payments to find what works best for all parties involved.  

I hope this helps!  Good luck on your real estate journey!  Take Care,

Hey Sam,

I think you should finish what you started and flip the other unit now.  If you refinanced now and planned to refinance again later once the other unit was finish you would be paying loan and appraisal costs twice!  If this is a few years apart, no big deal, but if its within 6 -12 months that could be a decent amount of money to consider.  If you have the money to fix up now before the refinance then I think it would make the most sense to flip now and take all your money out later when you refinance the entirely renovated duplex.

I wish you the best on your real estate journey! Take Care