All Forum Posts by: Craig Jeppesen

term is the number of payments in the contract of the loan. Amortization is the number of payments in the loan pmt calculation. If they match the loan pays to zero at the end of the loan. If they don’t you get a lower pmt but will have a balloon pmt at the end of the term and will have to come up with a bunch of cash or refinance before.

 I am not a Fannie Mae expert but do know that FNMA guidelines allow for some non taxable income. If yours meet FNMA rules you are golden and almost any lender will. If not you will need to look for a portfolio lender or you can easily do a commercial loan.

The best strategy is to get a lender that will use your non taxable income, keep a high credit score, and keep your personal consumer debt down. Financing mainly comes down to credit score, down pmt and dti ratio. also the slower you move, the more income you will be able to use from each addition as a new property gets added to your taxes.

 This one worked for you with no cash. Do it again. Also save up your cash flow for a down pmt.

 $20 k should be enough to get started but you will have to leverage or get private money to help with the rest. It at least gets your skin in the game.

 Well you will have to leverage your $20 k but brrr is the second cheapest entry to re investing besides house hacking. It should be enough to get a hml or construction loan and do a brrr or flip.

I wouldn’t, but I don’t like losing my money.

Since you have no money in the deal why not refinance at $100-105k. With no money you just created over $100k of wealth and should have pretty good cash flow and an excellent return.

Your problem is you are trying to take more cash out. Most Brrr just get their original investment back. Your initial investment is zero. I would do this deal but not take any cash out since you didn’t put any in.

Where does this $1k come from? For the future sake of our country, I hope we are not stupid enough to elect a socialist President. It is super important to educate our kids on money, hard work, debt, entitlement, career choice, investing and on and on and on. 

I would brrr and keep using the $20k.