All Forum Posts by: Ignacio Linares

Yes I know seasoned experts will say that time in the market matters more than timing the market, but is right now really the right time to buy? The fed is due to bump up interest rates this year, yet demand is still high, therefore keeping prices highly elevated. Here in California at least, buyers are waiving off their contingencies left and right trying to compete with other buyers, never mind the all cash buyers. Not to mention rampant inflation and whole myriad of other issues going on right now. There has to be a strong case right now for it not being the right time to buy right? I would love to hear your opinions

@Andrew Syrios What happens if my ARV is significantly higher and I go over the prequalified amount?

@Simcha Davidman I completely agree, it's a sellers market and deals are flying fast off the shelf! A more experienced investor can quickly analyze a deal to see if it'll be worth it and then pull the trigger, unfortunately I am not an experienced investor, so the analysis part and securing financing is still a bit hard for me. Any tips on how to get a HML to fund a deal for an out of state newbie?

Also any tips on getting accurate comps and how to get as close and accurate for ARV? I hear soo many stories in regards to the BRRRR method where the appraisal didn't come out as intended.

For holding costs that includes interest payments for the HML and the loss of rental income dude to rehab correct? Are there any other holding costs?

Thank you soo much for your detailed response! I know I am asking alot of questions, but the unknown is giving me anxiety seeing as how I'm looking to do my first BRRRR from out of state!

View report

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

Hello everyone, I'm looking to do a BRRRR and I've runned some numbers. Property has a new roof and I'm estimating a 50k rehab. 

Please critique my analysis. Thank you!

@Andrew Syrios Working backwards, if I only qualify for 100k, that means my ARV has to be 142k. In this case if I'm looking at 40-50k rehab, what does my purchase price have to be?

@Andrew Syrios Gotcha, thanks for clearing that up!

@Simcha Davidman ahh okay thank you for clearing that up! So in this scenario, if 70 percent of the ARV happened to be higher than what I prequalifed for, I assume I have to front the difference correct?

Yeaa, making money is the fun part!

Hello BP! I need some clarification. So let's say I get prequalified from a bank for 100k for example. So I buy a property and use the BRRRR strategy,I'm all in for 80k and the ARV comes out to 130k. When it comes to refinance at let's say 70 percent of ARV, that would come out to 91k. So my two questions are:

1) What's the relation between the amount I'm prequalified for and the ARV? Does it matter if the ARV is more than you're prequalified for?

2) If I'm reading this right, this means I'm pocketing 11k correct?

I know these are dumb questions, but would appreciate any clarification. Thank you

@Michael K Gallagher Awesome I'll definitely drop by there for a drink and thanks for the referral!

@Remington Lyman awesome thanks for the recommendation!