All Forum Posts by: Cam Schwartz

Hey Lucas, you're asking the right questions.

As @Nate Herndon mentioned above, this depends largely on when you'd like to get started. Assuming you'd like to get started now, you could potentially qualify for a $300,000 property purchase with 10% down on hard money. You would of course not deplete all of your cash reserves on the down payment in order to service the monthly debt payment and carrying costs, but this should give you an idea of what you can accomplish now if the time is right.

Many hard money products offer 100% funding for rehab costs so you would not need to save for this portion of the BRRRR project. Let me know if you have other specific questions or would like to look at some example projects given your cash scenario.

Hi Amanuel,

This depends on your strategy but if you are looking to purchase and rehab to add-value before either (i) flipping or (ii) refinancing, you can likely find a product for 15-20% down, perhaps 10% if you're creating enough value. For example, we can do as low as 15% down on multifamily bridge loans.

If you plan to refinance you will likely need to keep at least 20% equity in the property if not more, though if you're creating value through a rehab, you may be able to pull out all of your initial down payment and more.

 Just sent from [email protected]

Hi Jonathan,

With conventional financing you shouldn't need to live in the property for more than one year. Lenders have to meet additional regulations if you plan to live in the property which is likely why you are continuing to get that question.

Thanks @Jonathan Klemm!

JP, interesting project - we should have a solution for you. We're not far from Ukrainian Village.

Will shoot you a DM.

Hi Mitul, I receive several off-market multifamily deals weekly, primarily around the Chicago area. Happy to share.

Hey Flue, I receive a newsletter from a Tampa-based lender that sends out deals in these areas weekly. Happy to fwd. 

Congrats Tony! Appreciate you sharing.

Curious of the average margin on your projects (ARV / purchase + rehab costs).

Do you have a specific buy box / investment criteria as it relates to price and margin on prospective projects?

Hi BP,

For folks who have completed investment projects or are just beginning to search, what are the primary/biggest problems you face?

I anticipate this feedback will be helpful to the community at large, allowing us to collectively identify solutions to common problems and learn from each others' mistakes.

Hey Jalen, can't speak specifically to MKE though I'm just below the state line in Chicago and can confirm there are ample 2-4-unit properties in the area in need of renovating.

One trick with BRRRR investing is to pay a large down payment (30%+) to boost monthly cash flow. This provides wiggle room in your operating budget and when executed on properties with strong margin, you should be able to pull all of your cash out and repeat.