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All Forum Posts by: Nicholas L.

Nicholas L. has started 3 posts and replied 5272 times.

Post: Short-term (0-3 years) Lending Options

Nicholas L.
#5 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
Posted
  • Flipper/Rehabber
  • Pittsburgh
  • Posts 5,335
  • Votes 4,371

@Shadman Uddin

with a short term loan - i.e., a short term length, there has to be a value add play. You don't take out a hard money loan to just buy a long term rental - or a STR, either. It will come due... and you won't have the funds to pay it off unless you've increased the value of the property somehow.

Post: What is the End Game

Nicholas L.
#5 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
Posted
  • Flipper/Rehabber
  • Pittsburgh
  • Posts 5,335
  • Votes 4,371

@Don Konipol

Consistent with my earlier answer I actually don't think about how 'large' a portfolio I need - instead I think about how much net income I want per month across all my income sources.   A part time job generates income but isn't an asset I guess.  Stocks paying dividends and real estate generating rental income are.

With that said maybe I should think about portfolio size.

Thoughts?

Post: What is the End Game

Nicholas L.
#5 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
Posted
  • Flipper/Rehabber
  • Pittsburgh
  • Posts 5,335
  • Votes 4,371

@Don Konipol part of a portfolio of income, which may include both active and passive.  

One observation - not so much within the RE or BP community, but within the FI community, there seems to be this assumption that if you have to work at all, whether full time or part time, W2 or 1099, you've failed somehow.  This seems to me to be silly - different seasons of life will require, and allow for, different sources of income.  The nice thing about having at least some income from RE is that you have more flexibility.

Post: Air Bnb Arbitrage. STR.

Nicholas L.
#5 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
Posted
  • Flipper/Rehabber
  • Pittsburgh
  • Posts 5,335
  • Votes 4,371

@Chase Arthur

can you house hack?

Post: Tool to calculate cash flow

Nicholas L.
#5 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
Posted
  • Flipper/Rehabber
  • Pittsburgh
  • Posts 5,335
  • Votes 4,371

@Michele Velazquez every market is different.  Even if you find a great calculator you need to make sure you put in all the expenses for that market.

Post: New Investors: Ask Me Anything

Nicholas L.
#5 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
Posted
  • Flipper/Rehabber
  • Pittsburgh
  • Posts 5,335
  • Votes 4,371

@Jonathan Greene

What's your general opinion of cold-calling against a very narrow, targeted list?

Post: Newbie's First Deal Analysis For REAL!

Nicholas L.
#5 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
Posted
  • Flipper/Rehabber
  • Pittsburgh
  • Posts 5,335
  • Votes 4,371

@David Peyer

Stepping back from the numbers for a minute.  Why is a triplex that rents for $3250 listed for $175K purchase price?  Are those actual existing leases, or projected rents?  What state is it in, and what is the neighborhood class?  Something seems off.

Post: How to get financing for a property without a steady income?

Nicholas L.
#5 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
Posted
  • Flipper/Rehabber
  • Pittsburgh
  • Posts 5,335
  • Votes 4,371

@Alauren Lane if you're on BP now, you're already ahead of the game!  Here are some things to consider:

-When you graduate get a full time W2

-Rent for a short period, reduce your expenses, and build your credit

-Go to REIAs and network

-House hack as soon as you're ready (in other words, adequately capitalized!)

Post: We can move anywhere. Where should we live and invest?

Nicholas L.
#5 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
Posted
  • Flipper/Rehabber
  • Pittsburgh
  • Posts 5,335
  • Votes 4,371

@Angela Orecchio I always think this is an interesting question, but it's also so personal.

Can you tell us a little bit more about... where you might have family ties, or places you've visited that you liked?  Whether very cold weather or very hot weather is out?  

Etc.

Post: Pulling the trigger on long-distance buy and hold

Nicholas L.
#5 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
Posted
  • Flipper/Rehabber
  • Pittsburgh
  • Posts 5,335
  • Votes 4,371

@Adam Barakat OK - something that is $100K after renovation is likely going to be in a tougher neighborhood.  $150K or above is still possible but very tough to find those deals, and with interest rates rising cash flow is being compressed.