All Forum Posts by: Deandre Lee

@Jaysen Medhurst

Thank you both for your feedback, so I just noticed the Refi Amortization and am planning on re running the numbers. The numbers I got were from realtor.com were I first saw property so I do plan on looking up the taxes/insurance with the city. Based on the what I've seen it looks as though the studio is what need to be remolded, its been completely gutted to frames, even the plumbing is gone. So that's been my focus since the other units have long term tenants, I believe I can turn the studio into a 1/1 or possibly a 2/1 like the other units depending on the sqft of the studio and the area around it since its 3 buildings. So far I've been trying to itemize the rehab costs and looking at Lowes online site looking for remodel materials, if either of you have tips, tricks or advice on good and durable materials for a rental (long term) it would be very helpful. There's also a detached garage on the lot.

I'm still looking for my first investment property so I'm not familiar with all the things a landlord has to take into consideration, so if there are any other "operating Expenses" that people often miss or overlook could either of you list what minor or major things a new landlord wouldn't know what to put on their list of expenses. I got the rents from the BP rent estimator. 

I've recently found that this property is owned by an Investment Company, I've only spoken to RE Agents, and a very few homeowners. I'm not sure how the process in these transactions go, I have an LLC, so would I purchase the property through the LLC? I've been looking throughout the forums and seen the blogs about transferring properties from LLC to LLC but not actually purchasing the property. Since it's owned by an company will I need to get Attorneys involved along with RE agents during the negotiation and purchase process? How do you think the investors will take the offer since I'm looking to turn it into an investment for myself. How should I submit my offer?

Again thanks for the feedback, it really helps and makes me focus.

https://dealcheck.io/s/-M2aeMT... (original analysis)

View report

*This link comes directly from our calculators, based on information input by the member who posted.

View report

*This link comes directly from our calculators, based on information input by the member who posted.

So how do you calculate a BRRRR when adding sqft? Exp: 2/1 SFR 1512 Sqft, 10,123 Lot. So while i'm running the numbers should I calculate as an 2/1 fixer upper or an already finished/renovated 3/2 ? So would I factor in the added rooms during or after I analyze the property?

A 2/1 936 sqft home with 9375 sqft lot, how would you calculate this BRRRR?

Yeah Thank You, Zeb, currently I'm looking into a SMFR with 4-Units possibly to House Hack in. Also I brought the audiobook "The House Hacking Strategy" hoping to learn more on the best ways for it to work and put them in action, I really appreciate the advice Zeb. 

Now I have to connect with with a Lender to present a deal and get help me get started 

Hello BP my name is DeAndre, I'm a new investor located in Mid-CA or the Central Valley. Im looking to build my portfolio with rentals, flips on SFR and MFR. I'm from So-Cal but i've been located in Fresno since 2011 working and taking care of my father. A few years ago I discovered Real Estate and the benefits it has and have been fascinated since. Since then i've been studying different aspects of RE trying to find my niche, So glad I found out about BP this early in my journey and i'm looking forward to connecting and partnering with other members.

Yeah, Thanks i'm definitely starting to get the concept of how it works based on your example which is much appreciated. Tweaking the numbers around shows me what your suggesting but are there any references you can i.e. books, podcasts, website, audiobooks thanks again

When it comes to RE investing how important is ROE VS. ROI..... like during a BRRRR deal an ROI would ideally be infinite right? So where does the Equity come into play during a BRRRR or other investment strategies?

Alright thanks guys for the insight. 

Follow up question.. If I were to upgrade a 2/1 to a 3/2 based on sqft, should I analyze the property as separate properties with the same numbers. Or would it be better to get a appraisal then run numbers for an upgraded property?  Also i'm assuming I'd do the same for comps on the property.

2bd/1bth  1710 sqft