All Forum Posts by: Mary Faith Janson

Please help us on this deal! 

We have an offer in for $197K right now, waiting to hear back. Asking price is $218K.  Calculator is based off of the asking price.

This is in Texas, where the property taxes are stupid high.  Just found out that this town is having a new factory move in, upwards of a few hundred new jobs, it is a college town too.  Also, the town 15 miles away is having a growth spurt (45 miles out from Dallas Metro) and is having a major infrastructure railroad hub moving in - 9000 acres quietly bought up in the last 2 years by the railroad.  Will be one of the largest shipping hubs in the country.  This property is in the best area (Class A) of the town, too.

My gut says to buy it - wait for the growth to have it cash flow better, but our cash reserves are thin if something goes wrong with the property.  
Thank you!

View report

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

View report

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

Can someone look at this BRRRR report and let me know if I am filling it out correctly?  Or tell me how to?  Whenever Brandon does his webinar's on BRRRR's, he goes straight to purchasing through a loan.  He never does it with the initial purchase using a Line of Credit.  Here is how we are set up.

1. We have an equity Line of Credit of $115,000 at 4.75% with our bank. 

2. Purchase price is $60,000 - we will use our LOC.

3. Rehab cost is $50,000  

4. Rehab time is 8 mos.  

5. Taxes are $125/mo  

6. Insurance is $100/mo  

7. Refinance for $110,000 at 4.5% for 30 yrs. 

 I just want to be sure I'm using the calculator correctly.  Thank you!

Thank you!

Thank you! That makes sense now. I hope I did the calculator correctly - we have a line of credit that we use to purchase a BRRRR property, so we go to closing as a "cash" sale. So we really don't have any "down payment" per say to enter into the calculator, but it isn't truly a cash sale either, as we are paying interest only on the line of credit during the rehab period. Then we refinance with 30 yr conventional loan. Can you see if I have done the metrics correctly? Thank you!

View report

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

I noticed that I have INF% in my report.  What does this mean?  I never see it in any of the webinars that Brandon does.  How do I correct this?  Thank you in advance.