All Forum Posts by: Account Closed

@Frank Geiger I like your advice...the 500 bucks a month sounds pretty sweet to me too! Thanks for taking the time to respond!

@Kerry Baird Thanks for the response. You are right...they both have their pros and cons for sure. Good idea to have some of each!

@Larry Turowski Thanks so much for the response. That is what I am thinking, it is really difficult to find a good deal here right now so I am hesitant to let it go! Also, I have a little experience with rentals (3) and zero experience flipping which is scary.

@Jason Gamio I haven't done it yet myself. I have seen a few out of town investors invest in things in my area though that no one from here would touch with a ten foot pole. I think just be careful because you are used to super high prices... something that you see elsewhere that may seem really cheap to you may not be a good deal. Study the market as best you can and maybe try to make some connections on BP with people that are in the area. Good luck!

We just closed on a SFH that we planned to use as a rental. Our realtor took forever to give us the comps but now that we have gone over them we realize that we could probably spend 10k on this house and profit about 25k if we sold it. As a rental it will cash flow about 500 a month, but we have 17k tied up in it. What would you do? Stick with the original plan and rent it out (maybe refi later to get the cash out) or do a few upgrades and sell it?

This is awesome! So glad your offer was accepted! Congratulations!

@Chris Hanisco also, the tenant not letting you see inside could mean there's something going on, just make sure you see every square inch of the place before your inspection or option period is up!

@Chris Hanisco it sounds like an awesome idea and you won't have to live there forever if you don't want to. If and when you leave you will have two rental units which will increase your income and be an asset for you. That is an awesome example for your kids too!

I have been thinking about this a lot lately. To refinance and pay closing costs again just to have a higher payment and end up cash flowing only $50 a month is scary to me. I guess the problem is that most people are going to run out of capital if they don't use the BRRRR strategy. I would feel better about taking a little longer to acquire rentals and have awesome cash flow.

@Dustin Cameron Hi Dustin, my husband and I are in Big Spring. I think a meet up has been started in San Angelo. You might already know this but if you add "San Angelo" to your keyword notifications, you will be in the loop on every conversation regarding San Angelo.