All Forum Posts by: Charles Lundquist

Hi BP Community,

I'm a newer investor and just got preapproved for a mortgage. I'm planning to use the BRRRR strategy and want to make the most of the next few months doing solid ground research before making my first offer.

I built a BRRRR Deal Analyzer in Excel to help evaluate potential properties—factoring in purchase, rehab, refinance, rent, and projected returns—but I know I'm still green. I'd love to get feedback from more experienced investors on whether my spreadsheet makes sense or if I'm missing anything major.

Click here for spreadsheet: BRRRR Analyzer

If anyone is willing to share a copy or screenshot of a BRRRR spreadsheet they use for deal analysis or research, that would be incredibly helpful for comparison and learning.

My goal is to buy a small multi-family I can house hack—ideally something with cosmetic value-add potential.

Thanks in advance for any guidance! Let me know if there’s anything I can help with in return.

—
Charles L.
NYC Teacher | Aspiring House Hacker

Hey everyone,
I originally thought Yonkers would be my BRRRR market (proximity to work, familiarity), but after more digging, Elizabeth, NJ is looking more attractive — better price-to-rent ratios, strong demand, and less red tape. I'm not expecting to pull out 100% of my capital, but I want to do the best job I can and set myself up for long-term success.

A few things about my situation:

• I have ~$60K available

• Preapproved for ~$700K (FHA or conventional depending on the deal)

• Best friend is a contractor who can get me great pricing on reno

• Targeting a triplex with mostly cosmetic value-add (some mechanicals or light structural work okay)

• Ideally, one of the units is a 1-bedroom I can live in while house hacking

• Strategy is long-term hold, then refinance after stabilization to roll into the next deal

I'm open to Elizabeth or other NYC-adjacent markets in NJ/NY/CT where this strategy can still work with relatively low vacancy, solid tenant base, and investor-friendly zoning/permit processes.

Looking for:

• Tips on other BRRRR-friendly cities outside NYC

• Investor-friendly agents, wholesalers, or deal finders with access to off-market or distressed triplexes

• Any local red flags or neighborhood-level insights in Elizabeth (I’m still learning block by block)

Would love to connect with others who are active in this space. Let me know if I can be helpful to you in return!

Thanks in advance,
Charlie

I’m planning to invest in real estate in Yonkers, NY, and I’m being intentional about setting myself up for success. I’d really appreciate any advice or insights from experienced investors—especially those familiar with Westchester County.

My Current Position

• Focused on paying off personal debt to improve my credit and DTI ratio before purchasing.

• Will have about $100K–$110K in cash after selling my co-op and liquidating assets.

• I have a contractor friend I trust, which gives me flexibility and cost savings on renovations.

My Investment Strategy

• Targeting a multi-family property only — no interest in single-family homes.

• Plan to house hack: live in one unit, rent out the others to offset the mortgage and build equity.

• Exploring different financing options, including:

  • FHA loan for low down payment and owner-occupied financing

  • Hard money loan if I find a distressed or off-market deal with strong upside

  • UFT home loan benefits (I’m a union member) for potentially better terms or servicing support

• Timeline: 12–24 months, depending on how quickly I eliminate debt and the market conditions.

What I’m Doing Right Now to Prepare

• Studying Yonkers neighborhoods, comps, and rental data weekly

• Listening to BiggerPockets podcasts, reading books, and running deal analysis regularly

• Building my team: lender, agent, inspector, insurance broker, and contractor

• Running numbers on sample properties to build confidence and clarity

• Budgeting aggressively while eliminating debt

Question for the Community

What is a good way to find a below-market deal in Yonkers on a fixer-upper multi-family? I’m open to direct outreach, networking tips, wholesaling strategies, or any creative approaches that have worked for you.

For those who’ve house hacked a multi-family: What surprised you most during or after the process?

Best strategies for finding below-market or fixer-upper multi-families in Yonkers?

Anyone used a UFT (United Federation of Teachers) loan program or union benefit to buy a property? Would love to hear about your experience.

Investment Info:

Condo buy & hold investment.

Purchase price: $135,000
Cash invested: $35,000

1375 mortgage and HOA. living there currently

What made you interested in investing in this type of deal?

I was renting in the BX - it was cheap enough to own

How did you find this deal and how did you negotiate it?

Zillow - I was new and didn't really try to negotiate down. Got 5k off 140 sticker tag

How did you finance this deal?

loandepot

Lessons learned? Challenges?

Work harder to get under market properties. Look into a coop building's financials before purchasing.