All Forum Posts by: Dan Patella

I am looking in the 300k price point right now and speaking to lenders that will cover 85% of purchase price plus rehab cost.

Awesome, yeah my house in New Braunfels was built by DR Horton and there are also a lot of Lennar homes in the neighborhood. Right now I am actually going through my lending/financing options trying to figure out what makes the most sense. As I am sure you know, it seems relatively simple to find a lender who will offer 85% of purchase price plus rehab budget but of course at somewhat of a high rate. If you had any material that you thought would be helpful I would love to take a look at it or we could set up a brief call. Let me know what you think! 

Hey everyone! I am looking to acquire my first BRRR deal between the October - December timeframe and looking for a reliable and experienced contractor. Does anyone have any recommendations?

 That's awesome to hear! It looks like you also own a property in Louisville. What made you choose that market?

Hey Richard, looking to acquire my first BRRR deal in the October - December time frame so gearing up for that.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $305,000
Cash invested: $75,000

I am just beginning my real estate investing career and started out with a 2018 single family home in New Braunfels. It took me 30 days to rent out and I got a 12 month lease signed which is cash flowing $600 per month.

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

I am starting simple to learn the ropes and scale from here.

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

I found the deal on Redfin and went in $5,000 above asking price.

How did you finance this deal?

25% down and 30 year mortgage on the remainder.