All Forum Posts by: Cody Mitchell

Thank you!

Of course! We used a wholesaler that has worked in the area for a long time. The process altogether took about 7 months. 

Investment Info:

Single-family residence buy & hold investment in Adamsville.

Purchase price: $47,000
Cash invested: $16,718

This is my wife and I's first BRRRR deal. We purchased this property through a wholesaler. My wife and I used a hard money lender to secure most of the purchase price and estimated construction cost. We bought the property for $47,000 and the rehab cost $45,980. This property appraised for $134,000 and the property has a signed contract to rent for $1,250/ mo beginning in June 2022.

Investment Info:

Single-family residence buy & hold investment in Adamsville.

Purchase price: $47,000
Cash invested: $16,718

This is my wife and I's first BRRRR deal. We purchased this property through a wholesaler. My wife and I used a hard money lender to secure most of the purchase price and estimated construction cost. We bought the property for $47,000 and the rehab cost $45,980. After the cash out refinance, we have a total of $16,718 left in the deal. This property appraised for $134,000 and the property has a signed contract to rent for $1,250/ mo beginning in June 2022. This is a BRRRR deal that my wife and I purchased through a wholesaler. After all expenses including capital expenditures, vacancy, maintenance, and property management, we will cashflow approximately $229/mo.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $76,000
Cash invested: $25,841

This is a BRRRR deal that my wife and I purchased through a wholesaler. We used a hard money lender in order to provide most of the financing. We bought the property for $76,000 and put $36,025 into the rehab. After the cash out refinance, we have a total of $25,841 left in the property. After all expenses including capital expenditures, vacancy, maintenance, and property management, we will cashflow approximately $204/mo.

I am a new investor trying to househack in Bryan/ College Station, Texas. For the last probably 4-6 months I have been looking for a multifamily property to househack using FHA financing. For various reasons (numbers don't work, offers get declined, etc.) I have been unable to purchase one to this point. I am now considering purchasing a larger single family and using conventional financing, and renting by room to accomplish the same goal. As I'm looking, my main concern is vacancy, since if I can't get tenants to rent by the room I won't be eliminating my housing cost. Does anyone have any experience using this strategy and give me an idea of what to expect in that regard? Thanks in advance!

I am a new real estate investor, and have been studying a lot on small multifamily, and single family, using them as long term buy and hold strategies for about two years now. Here recently though, I have been listening to a lot of podcasts and reading a lot of info on using them as air bnb. Does anyone have any experience thoughts on doing this in our Bryan/College Station area? Any information will be appreciaged!

Investment Info:

Single-family residence buy & hold investment in Somerville.

Purchase price: $78,000

This is my primary residence, that I plan on living for a year and then renting out.