All Forum Posts by: Elealeh Fulmaran

Keep it simple: 30–60 minutes a month if you update as you go.

What matters: track income/expenses by property, attach receipts, separate repairs vs CapEx, bank feed or easy import, P&L by property, Schedule E export, mileage.

Setup: separate checking/card for rentals, one folder per property per year, a monthly “close” checklist to reconcile and tag.

Needs from 1 to 3+ doors: same basics—just more volume; discipline beats features.

$13k can work if you pick the right path. A few options:

• House hack a 2–4 unit: low down with owner-occ loan, live in one, rent the rest. Talk to a local lender this week about programs + reserves.

• BRRRR lite: buy livable, do light work, rent, then improve during turns and refi. Works best in affordable, cash-flow markets.

• Partner or seller help: bring the deal/sweat equity, let a partner bring extra cash, or use seller credits to reduce your outlay.

Simple 7-day plan:

1. Pick your lane.

2. Get pre-approved.
   3–4) Line up an investor-friendly agent + PM.
   5–7) Analyze 20 listings, tour 2, make 1 offer.

You don’t need perfect, just your first win. What city are you aiming for?

Efrain, if you’re aiming for a 4-unit house hack with low cash, here’s a simple path:

• Talk to a local lender this week about owner-occupied 2–4 unit loans, down payment options, and reserves. Get pre-approved.

• Set a tight buy box: 2–4 units in a safe working-class area, livable as-is or light cosmetic work, and rents that cover PITI.

• Build two key contacts: an investor-friendly agent and a property manager to sanity-check rents and areas before you tour.

• Reps matter: analyze 10 listings, tour 2, and make 1 offer. Use inspection to renegotiate or walk if needed.

• Bridge the cash gap with seller credits, disciplined saving, or a small partner (keep terms simple and written).

Got you. Here's a simple path: pick your lane—house hack (lowest risk) or BRRRR (if local prices don't work, look out of state). Set a buy box with property type, neighborhoods, and rough price/rent ranges—good enough, not perfect.

Build your core four this week (agent, lender, PM, contractor if needed). Then take reps: analyze 20 listings, make 2–3 offers, and use inspections to negotiate or walk. Action > perfect. Which lane are you leaning toward?

Love this topic. What’s been working for me and my circle lately:

• Seller financing: solve the seller’s problem first; short-term interest-only with a balloon after value-add keeps cash flow strong.

• Sub-to/wraps: take over low-rate loans and keep the seller whole—huge when DSCR is tight.

• Hybrid: small seller carry + private second to cut cash in, then refi into DSCR once stable.

• Private money: secure with note + mortgage/deed, pay on milestones, send updates—consistency = repeat capital.

• HELOC/LOC stack: close fast, cover rehab, then refi—speed wins deals.

• Lease-option: control now, improve, then exercise once financing improves.

Start with one filter: only buy notes where you fully understand the borrower’s story and the exit before you wire a dollar. That means verify pay history, current balance and collateral value, then decide your plan—keep it performing, modify, or take the asset—before you bid. Clarity on data and exit beats chasing yield every time.

For private money: keep it simple. One-page story—what you’re buying, why it’s discounted, scope/timeline, exit (refi), and how the lender’s secured (note + mortgage/deed). Start with people who know you—set up three coffee chats, share the page, and just ask, “Want updates as I take this down?” Give options without pressure (fund full deal or just fill a gap) and promise weekly photo updates until refi.

For contractors: start with light rehab (paint, floors, fixtures) to test the relationship. Get three apples-to-apples bids on the same scope, and check license/insurance/references. Fixed price, small deposit, pay only on verified milestones. Keep a weekly written rhythm: what’s done, what’s next, issues, and timeline.

You’re not doing it wrong—the market’s just tight, and house hacks have taken the biggest hit with rates and taxes. The play now is to adjust strategy, not force the math.

How to make a VA house hack work today:

• Target small multis with add-on income (garage rentals, storage, coin-op laundry, RV/boat parking, utility bill-backs). One extra stream can flip negative to breakeven.

• Underwrite both LTR and room-by-room/MTR once you move out. If the second path doesn't push DSCR above 1, pass.

• Push for seller credits or buydowns—payment is the lever when rates are high.

• Use creative structures: VA on the first, seller-paid buydown, or even a light second from the seller for year one.

• Expand your box: check nearby submarkets with better rent-to-price, or pivot to a live-in flip with clear value-add.

Quick filter: if it won't cash flow day one, can you add income or cut costs in 90 days? If not, does value-add clearly lift ARV/rents enough to refi safely? If neither, it's a no.

Mitch, you're not crazy—your calc is doing its job. The deal's just tight for 8% COC with that much cash in. Big cash in + modest cash out = crushed returns, and your ARV spread looks thin.

Quick ways to pressure test:

• Verify ARV with 3 comps—if it doesn't stretch, move on.

• Price both LTR and legit MTR (net after cleaning, utilities, vacancy). If MTR doesn’t clearly beat $1,600 LTR, underwrite LTR only.

• Trim rehab to true “needs vs wants.” If budget won’t cut, deal won’t work.

• Renegotiate or change capital stack (private/interest-only, then refi) to reduce cash left in.

Decide your priority: pull most cash back or steady cash flow. At this ARV/price, you probably can't have both.

Rudy, love the focus. Memphis can work if you stay disciplined—stick to 3/1 or 3/2, light rehab only (skip roof/foundation/HVAC). Keep all-in safely under your refi LTV with a conservative ARV, and only move if the refi returns cash while still cash flowing.

Line up your team early: 3 investor-friendly agents (with comps + contractor/PM intros), 2–3 PMs to sanity-check rents/street-level demand, and wholesalers who send address, pics, ARV, repair est., and rent comps.

Screen fast—ARV + rent comps, add rehab contingency, pass if numbers don't clear. Lock both lanes of financing now (hard/private for purchase + DSCR/conventional for refi).

Guardrails: negotiate with inspection findings, pay GCs on proof, and prep an appraisal pack (before/after photos, scope, receipts, PM rent letter).