All Forum Posts by: Nicholas Duffus

@Ryan Howell

Thank you very much for your reply. This makes sense and I will consider it when the time comes. 

Nick

@Shiloh Lundahl 

Thank you very much for your reply! This is something that I would consider. Thank you for your input. 

Nick

Hello once again BP community, I hope you’re all well. After listening to The Book On Rental Property Investing, a question regarding financing came to mind. I have a good grasp on financing and the types of financing but Brandon brought up a point regarding the limit of homes that can be financed. 

My question: Given that you can only finance 10 properties with a traditional mortgage, does this include refinanced properties? I assume it does as you are getting a traditional mortgage and dealing with your traditional lenders. If so, how do you continue to refinance after the 10 property limit to continue BRRRRing? 

Thank you in advanced, I will be sure to reply back to any responses. 

Nick

@Andy Webb sounds good! Thank you for the clarification. 

@Greg Kasmer thank you for your detailed reply! At this point in time I have not started investing into RE yet as I am not that far along in my plan but I figured I should educate myself as much as possible ahead of time. With that said, thank you for giving me the MLS tip. That will be helpful in the future. What you said reinforces a lot of what I've found in my research, so that has given me more confidence in my knowledge thus far. Once again thank you, I appreciate your time and reply!

Hello BP community. I have been spending some more time researching BRRRR and I have a pretty good grasp on the idea and the steps to be taken. One thing that has come to mind while researching is how comps are done. I understand that comparing homes that share likeness with the prospective property is the basic ideology.

However, when doing comps does the location of the comp matter? For example, if a property is in a desirable location in one county, but your comps come from another desirable location in another county; or just another town over, would this drastically impact your potential ARV?

Thank you ahead of time! I will be sure to reply.

Nick 

@Jody Sperling Thank you very much! I ended up deep diving last night to find the best way and what you said reinforces what I’ve found. I really appreciate the detailed response! 

Nick 

Hello BP community! I'm reaching out to see if someone can help clarify BRRRR for me. I've been obsessed with Real Estate and building my wealth for the past year. I understand the principles of Real Estate and I also understand the BRRRR method and it's steps. My only question is regarding the financing for the purchase of a "fixer upper". As we know distressed properties typically do not qualify for traditional financing. Being the person I am I like to streamline and make things efficient, so getting traditional financing would do just that. I've researched and I've found that foreclosed/bank owned properties do offer traditional financing. Is this true? Thanks in advance, I will make sure to reply back!

Best,

Nick

Hello BP community! I'm reaching out to see if someone can help clarify BRRRR for me. I've been obsessed with Real Estate and building my wealth for the past year. I understand the principles of Real Estate and I also understand the BRRRR method and it's steps. My only question is regarding the financing for the purchase of a "fixer upper". As we know distressed properties typically do not qualify for traditional financing. Being the person I am I like to streamline and make things efficient, so getting traditional financing would do just that. I've researched and I've found that foreclosed/bank owned properties do offer traditional financing. Is this true? Thanks in advance, I will make sure to reply back!

Best,

Nick