All Forum Posts by: Franky Juwana

@Caleb Brown  

Do you use an LLC ? and do you use 1031 exchange for the proceed? what type of Tax deferment vehicle do you use for this? and how do you get paid after the sale?

thank you

@Jon Reed  thank you for replying my questions, 

80% ARV: is about 368k and yes, at this time, it'll be enough to get my next deal

rental 2800/month would be around 33k would be 10% cash on cash return

Property Management: I dont know any reputable ones but I can find out from a friend who has their own rental on who the handyman. 

So, I was thinking alot about the strategy on buy and hold vs flipping it, so yeah... im leaning toward buy and hold more than just flip it. 

thank you again for the insights

Hi My Biggerpocketers!

My partner and I just signed contract for the first house that we're going to fix up, here's the simple breakdown

Purchase price: 325k

Rehab: 30k-40k

ARV : 460-490k

Monthly Holding cost (Tax, insurance, Maintenance, no mortgage) : 1100

Rehab is 1 month, but if we flip and sell, I'd like to sell it around spring time so we could get as much profit during this time. So holding time around 4-5 months. 

The average rental in the area is $2600-$3100

We are still open for any suggestions, we could do BRRRR way, but not sure I want to be a landlord and is it worth paying a property manager?

I appreciate the help and any inputs.

FJ 

Thanks for responds,  how the rent helps me in Debt Income Ratio? 

Could you elaborate a bit? I'll google it also just to get more info. 

Hi Biggerpocketers! 

      So i have a personal house that i live in and im in the process of my first buy and hold property. 

     My lender said that I'm literally max out on Debt Income Ratio to borrow after this deal. 

My question is, if you refi on the investment property to purchase another one, but my credit is maxed out, how the BRRR could work?Do I need to wait till my Debt decrease? Do i need to pay off one of the house mortgage? Or put larger down payment? Or buy it cash? (Which defeat the purpose of using OPM leverage and i have no large cash anyway).

Anybody has the same dillema? What is the solution for this?

Thx again. 

 thank you for the suggestions, I googled benchmark insurance but came out few, which in particular you referring to? 

Hi Biggerpocketers, 

I was excited to have my offer accepted today, so then I was looking for landlord insurance and Geico, which the middle man, quoted me from sagesure Insurance for my SFR 200k in Cypress Houston $2772/year, I almost dropped from my chair.

I asked why it's so expensive, the agent said because there were alot of claims from the area. I was like.... duhhh... It was Hurricane Harvey  like a year ago. 

Anybody has input in which company that I could try, I dont want this landlord insurance become my deal breaker, because if I have to pay even more than $1000, I can't afford the house enough to make passive income. 

Any input is appreciated. 

Thank you all for  the input and suggestions, I know that I will get my first deal soon, i can feel it, just need to be a little patience and calculate the numbers right. 

I don't want to be paralysis analysis but i'm not rushing either, i wanna be smart in making decision, that's why I have my people in biggerpockets supporting each other. I thank God for @Brandon Turner and @Joshua Dorkin who makes podcast and forum available for us to benefit. 

I'll keep you up to date on my deal and cant wait to share my story later. 

Thank you all for  the input and suggestions, I know that I will get my first deal soon, i can feel it, just need to be a little patience and calculate the numbers right. 

I don't want to be paralysis analysis but i'm not rushing either, i wanna be smart in making decision, that's why I have my people in biggerpockets supporting each other. I thank God for @Brandon Turner and @Joshua Dorkin who makes podcast and forum available for us to benefit. 

I'll keep you up to date on my deal and cant wait to share my story later. 

For which ones ( i have 3 deals ) ? no go for all of them??