All Forum Posts by: David Ripplinger

What would the rent be, how much does property management cost, how much are you budgeting for other things like capital expenses and vacancy, how much would you pull out with the cash out refinance, and what would the monthly payment be for that loan?

@Nicholas Anderson If your plan is to hold and rent, and the cash flow doesn't work out, it's not a deal. Don't do it. If it's really hard to find a good deal in your area, consider investing long distance. I'm in Utah, and I plan to invest out of state because everything is inflated in my area.

Long Distance Real Estate Investing by David Greene is a must-read on this subject.

@Trent Stone Sweet. I'll send you a PM.

@Brian Harker @Donald Kelley @Trent Stone @Tyler Ruff I'm ramping up to do some out of state BRRRRing really soon. I'd love to meet up with every one of you, if it's possible. Maybe we can pick each other's brains. At the very least, I'd love to make friends with similar investors in Utah!

My first investment will be out of state, hopefully making a purchase by the end of the year. Read David Greene's book Long Distance Real Estate Investment. You'll realize that there isn't really an advantage to living close to where you invest.

I want my retirement funds to perform much better than conventional funds, and I also want to make sure my investments go toward something that makes the world a better place. I worry that in IRAs and 401ks a lot of my funds could be in companies that do morally objectionable things, and I'd have no idea that I was part of the problem by motivating them to maximize profits by any means necessary.

@Candis Oliver @Ric Ernst Is it okay if I connect with both of you? I'm ramping up to start investing in Indy and I'd love to learn what property management companies to avoid.

I'm getting started to do a bunch of single family homes in the Indianapolis area. If you were to knock doors there, I would love to pay you for leads.

I'm surprised nobody else has mentioned this yet, but people have frequently used hard money to buy and hold if they use the BRRRR method. That way you're only paying high interest for maybe a few months, after which you can quickly pay off the hard money loan with the money you get from the cash out refinance. Obviously it's better to buy with your own cash or get a private lender when you can, but people have made it work with hard money when they have not had other options. You just have to be more certain you'll get a good appraisal to maximize your cash out refinance so you don't leave any money in the deal.