All Forum Posts by: Dalton Eschberger

@Callen Stewart

Congrats on taking action! I’m looking forward to starting my first project.

I’m a junior studying computer science at Tech, would love to grab coffee sometime!

I second @Maamun Danmaisoro with respect to renting month to month or short term like three months. A bit less volume of people trying to find those leases but I know quite few that would due to internships or co ops.

Hope to talk more, good luck!!

@Greg Miller Thanks for the advice and basic numbers!

I see the value of single family homes over multi due to the easier exit. I’ve been running every deal I can in my area and am really excited to pull the trigger. I am though taking a bit of time to learn more about financing and the legal side of things.

One number I’ve always heard is that your expenses are probably gonna be 50% of the rent. Would you say this is true? I’ve been running the numbers with this and it’s really hard to find anything that cash flows more then 100 dollars.

Good afternoon! So I'm relatively new to the real estate market and learning about the different strategies that I could deploy. One that has peaked my interest is BRRRR due to being able to get into real estate with a lower capital requirement (sometimes none?)

So this post is mainly to get some feedback/experience in this area. So I’m gonna lay down a “Deal”(hypothetical) and it would be great to see if I have it correct!

So in my local area the average rent is between 500-1500 dollars a month depending on area. In this case I’ve found most of the 50-65k property value areas renting between 800-1000 dollars a month.

So looking at a home with a expected ARV of 60k and expected rent of 900.

So purchase price of: 32k

Reno: 8-10k

So all into the property at 40-42k

So inspect house - worth 60k

Do a 75% refinance to pull out 45k leaving 15k in the property.

So if you were doing this with little money. Take out private lender loan of 75% ARV of 45k at 10% interest pay for all of the Reno/costs maybe have some payments over that you cover. Then rent the house out. Take out a 4% interest loan of 75% and pay back the private lender. Then you own a house, for the price of the interest/closing/vacancy?

It just sounds too good to be true to me. I read success stories all the time on here. Just to me this sounds so good!

Haven’t factored in other costs because I don’t quite know exactly the industry average percentages for those yet.

Thanks,

Dalton

@Mason Moreland I have definitely grown quite fond of this area. I’m from Houston so the country-ish vibe of Lubbock is quite nice! Looking forward to getting into real estate, I think the rental market is definitely hot with the campus.

Maybe sometime we could message/talk about some “Awesome” returns! Curious! ;)

@Matt Moreland That’s awesome. I’m fairly new to the lubbock area due to being from Houston. I do like the area and I am going to be here for a bit longer depending on how school goes. Nice to hear that there is involvement.

Would love to meet up and talk. Can never have too many people on your side! ;)

@Jordan Sutherland Awesome! Definitely would enjoy talking some time. Thanks for replying!

Good Morning everyone!

So I am a college student at Texas Tech University, major in computer science, and a minor in math.

Been mainly investing in the market through some short term value investing. I would like to learn about real estate as a more stable long term investment.

Hope to one day own my own business in investing!

If there is any members that are currently based in the Lubbock, TX area id love to take you out to coffee or lunch to pick your brain!

Have a good one,

Dalton