All Forum Posts by: Khemraj Hamnauth

Hi Fatima, like you, I just started on my journey and I have been running numbers like a madman for my 1st project using BP tools. From a confidence standpoint, I think you are solid. That rehab cost seems on target and you are starting out with a really good purchase price. Liens are low and you know the previous owner. As long as the ARV is spot on (depending on your area + recent exact comps), I think you should be good for a BRRRR. The co-living thing is an exciting concept for cash flow on a hold. I'm interested to see what another more experienced investor says. Looks like you're well on your way though.

@Cody Bergstrom @Jorge Vazquez Thank you for the reply and knowledge sharing. LTR was my original thought when the market started to turn and inventory increased. Even STR, but I would need to shift my zip code focus closer to Tampa or the beach for that.
Is it possible to get a DSCR when I don't have 3-6 months in reserves? Realistically I may only have 1 month in reserve. Enough for 20% down. I'm also bouncing around the idea of going JV with two other investors (rehab team) on this first one. Thoughts?

Thanks again. 

Hey BP, rookie investor here. I've spent the past month digging into research and learning daily. Saving up for down payment/reserves. Looking to start my journey by acquiring a 3/2 SFH or multifamily BRRR, 1400-1900 sq ft in Tampa Bay Area. It is no secret we have a lot of hurricane affected areas. I have a team that can do the rehab work and we have some decent projections but I am stuck on recalculating ARV. With the FL market showing average 60+ days on market for MLS listings plus the "boogeyman" flood insurance cost to consider, is anyone having success in moving properties? If so, are hard money lenders scrutinizing deals even more?
Any advice would be appreciated. 

@Nicholas L

@Nicholas L. Hi, thanks for the reply. I would use a HELOC to buy a property in the northeast and then go up to live. That's the initial thought. Have not taken that action yet. I believe I am still at the early stages of that move as the Florida market seems volatile at the moment and you're right, taking out a HELOC when not fully sure of a strategy isn't wise.

@Doug Smith Thank you for the feedback. I am at a pivotal time in the journey as I am putting together my team consisting of a good PM (he has contacts with multiple GCs), Im the numbers guy (given my tax and skip tracing background) and working on the lending, agent side. I am only realistically able to devote a few hours (5 or so) during the week, and early morning hours on the weekends. Both my wife and I utilize daycare and just do the best we can. I'm looking forward to a little more independence from the kids but also realize they grow up fast so I have to stop and live in the moment while they are young. Coffee sounds good. Im free most weekends, early morning. I am off of Big Bend and 301 myself. Would love to connect.  

New to BP. Trying to get some tips on how the more experienced investor/house hacker started your journey while raising kids at home. The motivation and work ethic is there but sometimes the energy is lacking due to having the kids suck the life out of me. Seeking assistance to start a multifamily house hack strategy using equity in my current SFH in Tampa Bay, Florida area. Want to acquire the multifamily in another market, preferably in the Northeast.