All Forum Posts by: Naz Hossain

So I’ve been listening to the podcasts for a while and one pattern I’ve noticed is that, Brandon keeps saying, secure your refi before you go into a deal.

Taking on that advice, I've spoken to a few lenders. I have a current mortgage, primary residence, that I'm paying. When I asked lenders about doing a refi, they say "we look at your DTI". My question is, how do I work that refi when I'm already paying one mortgage? Do I get a tenant before I do that refi? How do y'all (those who have used the BRRRR technique) manage to keep your DTI low so that you can qualify for that refi?

@Kevin S. thanks for that over view. That was one of my options and I will keep looking for more.

@Tim Herman Would it be a bad investment if I still cash flowed on the property? even if it didnt meet the 1% requirement?

@Tim Herman the asking price is a little high - 328k. Unit 1 is rented at 1000, 2 is at 850 and 3 is at 600. They are basic units with a common laundry area. That is about it. I know I can negotiate the asking. The only caveat to that is, I will be living in one of the units. I will take unit 3 since I do not need much and want to maximize cash flow. 

Hi BP!

I have an opportunity to purchase a Tri plex in a really good neighborhood/nicer part of town. This Tri was built in 1946 and it is surrounded by new developments. My question is, does that pose a risk for me in any way? Be it getting tenants or having to make way for further new developments? This will be my first deal if I go through with it.

So I am looking to get into a MFH in the San Antonio area. I will be moving there. I want to live in one of the unit and rent out the others. What I want to know is that should the 1% rule still apply in my situation? If not, Is there a rule of thumb for how much I should add on top of the rent to meet PITI to make it a sound investment? Also, if I am completely wrong with my strategy, please call me out.

On another note, if there is an agent reading this based out of San Antonio, please reach out to me, if you don’t mind working with me.

Wow! Thats amazing! I am curious to know how you managed all this from Hungary?! Did you have boots on the ground - in terms of agent, contractor etc.? 

Congrats! Hope to be among those ranks here in a little bit! 

Thanks everyone for the valuable insights. With cash flow as on of the driving factors in the investment, loan rates play a big factor. What experience do you have in the austin or any area in general "shopping" for conventional rates? How many places do you apply in general? Do you ALWAYS put in a 20% down?

@Tom Olson I am in the Austin TX area.  I would definitely be interested if the numbers looked right outside my area IF and only if there was someone I can trust to manage that property. I am not there yet with network or connections to make that kind of deal. Currently, I will manage it myself just to cut cost. In the Austin area - below 200k purchase price point with at least 12% cap rate and above $300 per door cash flow.