All Forum Posts by: Isiah Ferguson

@Natalie Kolodij I'm a newbie as well. Wouldn't you prefer free and clear cash flow over cash flow ? Wouldn't it be more of a cash flow because of less expenses ?

Hmm, something to think about. I appreciate your advice. @Jonathan Thompson

Hey BP, I've been on this website for a few weeks now but I'm fairly new too real estate investing. I've studied as much as I can before I felt comfortable too pull the trigger. I learned everything from books, google, and YouTube about REI. My main goal is too build up enough passive income too cover my monthly expenses and plus extra cash flow too do things like travel etc. I jumped into the game after creating an LLC in only a 3 month span. I don't know why I was in a such a rush lol. Here's my first purchase in details. I would like to know what you guys think and consider ?

Turnkey duplex property - 900sq 2bd/1bth for each side

Listed price - $109,000

Purchased price - $95,000 CASH BUY

Minor rehabs - $4,500

All in CASH BUY - $99,500

Appraised - $117,000 before minor rehab

Rented - $1,200 total $600 for each side

So now I have this property & here are the numbers. Of course it's not the best deal and everything is a learning curve. I'm at the point now where I just been collecting rent for the last couple months and CASH flow is great which is my ultimate goal. After learning about the BRRRR strategy and about leveraging your cash, I'm starting to second guess this deal. Moving forward I'm trying to figure out how to approach my next deal because I'm ready to expand my portfolio.

Should I do a CASH on cash refinance and use the money too try and begin the BRRRR strategy?

Should I do a CASH on cash refinance and use the cash for down payments for multiple properties?

Should I keep the property the way it is, let the cash flow build up and use some of my reserves too dump into another property after about 24 months. That way I have 2 properties free and clear ? My ultimate goal is too create massive passive income.

Am I looking at this the right way? Any suggestions or ideas ? Thanks in advance

any other suggestions?

Thanks @Jeff Wallenius. I definitely have funds set aside for maintenance etc. I spoke with a few mortgage companies and their willing to do 75% cash on cash refinance with anywhere between 4 1/2 - 6 interest depending on my credit without the 6 months seasoning if I can prove the cash came directly from my account without being borrowed from a private lender, which I can prove. I like the cash flow that I have now but I want to leaverage my cash at the same time but I'm trying to see which is the best way to do so. 

Hey @Kit Thomas thanks for your response & as far as I know the property is in a pretty warm market. The appreciation value barely rises at all. It's in a B class neighborhood which is in the country. 

Hey BP, I've been on this website for a few weeks now but I'm fairly new too real estate investing. I've studied as much as I can before I felt comfortable too pull the trigger. I learned everything from books, google, and YouTube about REI. My main goal is too build up enough passive income too cover my monthly expenses and plus extra cash flow too do things like travel etc. I jumped into the game after creating an LLC in only a 3 month span. I don't know why I was in a such a rush lol. Here's my first purchase in details. I would like to know what you guys think and consider ?

Turnkey duplex property - 900sq 2bd/1bth for each side

Listed price - $109,000

Purchased price - $95,000 CASH BUY

Minor rehabs - $4,500

All in CASH BUY - $99,500

Appraised - $117,000 before minor rehab

Rented - $1,200 total $600 for each side

So now I have this property & here are the numbers. Of course it's not the best deal and everything is a learning curve. I'm at the point now where I just been collecting rent for the last couple months and CASH flow is great which is my ultimate goal. After learning about the BRRRR strategy and about leveraging your cash, I'm starting to second guess this deal. Moving forward I'm trying to figure out how to approach my next deal because I'm ready to expand my portfolio.

Should I do a CASH on cash refinance and use the money too try and begin the BRRRR strategy?

Should I do a CASH on cash refinance and use the cash for down payments for multiple properties?

Should I keep the property the way it is, let the cash flow build up and use some of my reserves too dump into another property after about 24 months. That way I have 2 properties free and clear ?

Am I looking at this the right way? Any suggestions or ideas ? Thanks in advance 

congrats king.

ok thanks guys. This is great to know. 👍🏾

A couple months ago me and my fiancé purchased our first investment duplex property. It's going on 7 months and we still haven't got out official deed from our closing attorney office. The attorney doesn't know what happen to it and she says she mailed it out and that we should of received it but we didn't. She sent us a copy of the property deed and also a certified copy of the deed. She tells us that if you look up the property it's show that it belongs to us and a certified copy is just as good as a official copy. Is this something we should worry about ?