All Forum Posts by: Kevin Wilson

@Andrew Postell shouldn’t be an issue, just some lost opportunity costs

@Jonathan Greene

After rehab I’ll have about 160K in the deal was hoping to get most if not all back out. I think realistically it comps at $170K but I need to dive a little deeper

Intended to BRRRR a duplex but rehab costs are much higher than anticipated. Should be rent ready in August but unknown how much the market will cool by then and if it will appraise lower than expected at this point. Im also pretty highly leveraged across my portfolio so was wondering if I should just keep all the money in the deal and cashflow on a paid off asset or if I should attempt to get as much back out as I can? I feel with the inflation uncertainty money in a deal might not be that bad. Thoughts?

@Kevin Sobilo

Thanks for the feedback. I’m long distance which makes some of the stuff you suggested a little more difficult. But I totally agree. I think it’s mostly noticing some little things that need to be addressed and it’s my first multi unit so having multiple kitchens adds a bit. I am paying a little higher labor rate but the trade off is the guy is a referral and communicates well so there is some peace of mind with that.

Got a Duplex under contract with intention of BRRRR but rehab is costing more than expected so I'm figuring on only getting 70% of my cash out. With $25K-$30K locked in the deal if I cashflow at $800 a month net would you consider this a fail?

@Jonny Nila

The primary home isn't an asset unless you make it an asset, house hack, live-in flip, etc. It ultimately depends on your bottom line, is Turlock and any house you buy going to be a long or short term buy? Would buying a primary free up more housing cash? Really depends on the numbers and your goals. If you buy a primary, look at it as an investment and get something under valued then you can always refi cash out and invest like a live in BRRRR

@Will Payne

Also curious about the timeline between having a place rented and getting a refi through a conventional lender? Anyone know what the average would be? Is it as soon as you have a lease signed?

@David Goodman thanks! I just started working with a realtor. How long have you been In Property Management there?

@Kelleigh League Montgomery County but, I’d prefer Clarksville unless you have some insight as to other areas I could be checking out?

@Darnelle Turner welcome! I got started about a year ago on bigger pockets and within a month was under contract on my first property in Pittsburgh which I just completed a BRRRR. I'm investing long distance from California. Definitely, lean on bigger pockets, find your niche and after you've done some research go make some offers. Good luck and have fun!