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All Forum Posts by: Account Closed

Account Closed has started 10 posts and replied 38 times.

Post: Homestead house is paid off! BRRRR or not to BRRRR?

Account ClosedPosted
  • Investor
  • Austin, TX
  • Posts 42
  • Votes 7
Originally posted by @Chris Bounds:

I love the BRRRR strategy.

You can get a HELOC and use it when you need it.

IMO, it should only be used cover gaps using BRRRR to get into the property.

Say you get a $100k HELOC. Using private / hard money for acquisition financing, the $100k could help fund up 4-6 rentals depending on how cheap you get them.

Then use the cash flow to pay off the HELOC.

 Thanks for the idea, Chris!

Post: Homestead house is paid off! BRRRR or not to BRRRR?

Account ClosedPosted
  • Investor
  • Austin, TX
  • Posts 42
  • Votes 7

So, I'm about a quarter way through the BRRRR book, and I started thinking to myself, "would this strategy work with the house I'm living in, currently?" The house I'm living in is paid off. ARV is $248000. It's the only house I own and I'm new to investing in real estate. I don't have the network that "Mastery Mike" has, nor the experience. Would it be wise to jump in using the BRRRR method or just stick with the traditional method?

Post: As a REI, would it be beneficial to acquire a RE license?

Account ClosedPosted
  • Investor
  • Austin, TX
  • Posts 42
  • Votes 7

I'm looking to invest in rentals. What would be some pros and cons to getting a real estate license?

Post: New construction purchase

Account ClosedPosted
  • Investor
  • Austin, TX
  • Posts 42
  • Votes 7

@Cindy Bacigalupo

I agree, new buildings are enticing. I may be lucky with these ones I'm looking at. Thanks, Cindy.

Post: New construction purchase

Account ClosedPosted
  • Investor
  • Austin, TX
  • Posts 42
  • Votes 7

@Brandi Vigil

Thanks Brandi, for the quick response.

Post: New construction purchase

Account ClosedPosted
  • Investor
  • Austin, TX
  • Posts 42
  • Votes 7

@Sam Horton

Thanks Sam, for the quick response. Makes sense.

Post: New construction purchase

Account ClosedPosted
  • Investor
  • Austin, TX
  • Posts 42
  • Votes 7

Good afternoon! I'm looking at investing into some new construction duplexes/triplex in Texas. Does the builder normally cover the closing costs, like a seller would? Thanks all!

Post: HOW MUCH CASH DO YOU NEED TO BUY 10 PROPERTIES? ANSWER BELOW

Account ClosedPosted
  • Investor
  • Austin, TX
  • Posts 42
  • Votes 7

@Danny Webber

Hi Danny, can you explain dti's, equity stacking, and mortgage wraps, please. I'm pretty new to investing and still learning the terms. Thanks!!