All Forum Posts by: Goredy Tess

I am new to all the real estate buzz, I know none have the crystal ball and life is unpredictable, but what's ur take to all that the crash happens every 18years, the last time it happened was 2008, add 18 years to that, so the next crash will be 2026, but the peak of the market will be 2024?

@Brian Ellis,

I agree with you, it's hard to find a property with a good deal, I have also signed up for roofstock and see what type of properties investors are buying at what price it's being purchased, and see the ROI/COC numbers. I guess it's about deciding whether u want to buy a property that will have appreciation or has a reasonable cash flow, but I haven't found a property that has both. So I think that's why its prefered to do BRRRR to get both aspects.

Thank you

@Lori Williams,

Thank you, it makes a lot of sense!

@Lori Williams,

Like the "worst house on the best street"!!!

Do u have a rule of thumb on dealing with contractors?

Thank you

@Travis Frenchak,

Thx, I have heared the term but didn't wane take that route, I felt that method would be harder because it has a lot of moving pieces. But open to it, can u recommend a Do's and Don'ts with the BRRR.

Thank you

@David Malik, Thank you so much for your time, appreciate the support!!!

I guess until I get few houses under my belt, I am not talking to any HM lenders...Lol...I will communicate with local community banks.

@David Malik, 

Thanks for making it clear, I am definitely Tier 2, so in addition to the 11.99% interest rate, they will still need collateral?

@David Malik,

So let me get this correct, the numbers u gave (fix/flip: 7.35%) (long term rental: 4.25%  with 20% down), is it for hard money lenders or banks? The other things, what factors makes the interest rate go higher to 11.99%?

Thank you

@David Malik,

I keep reading that Hard money lenders are for suckers...Lol, but if I take that approach, it would be 15% down and what would be the interest rate, the max I read was 11%, is that correct?

Thank you

@Matthew Irish-Jones,

Thanx for the recommendation, the good thing the property does not need any renovation, btw, if I had the total cash, u would recommend me to buy the property out of pocket?

Thank you