All Forum Posts by: Nicholas L.

@Matthew Stapleford @William P. I am as well!

@Brett D. this is a ton of your cash to tie up AND a lot of debt to take on.  I don't see how this makes sense - it's going to make getting your next property very difficult.

@Christy Harlander how much would you and your husband jointly qualify for?  Fine that they're a friend, I'm just keeping in mind this is your very first deal.  

@Noah Mittwer get the highest paying W2 job you can, house hack, and accumulate some savings.

@Christy Harlander what do you know about this "person" that has offered you 85k on your very first investment property?  It seems like you can make a purchase without this so why enter into what could be a complicated entanglement so early in your career?

@Austin Powell find a good agent, a calculator is no substitute for knowledge of a specific area and actual comps to try to predict ARV.

@Navi Singh I think it's not the case that most investors got started in wholesaling.  And wholesaling can definitely require an up front investment in marketing materials.

@Victor Rallo a good agent could give you comps to try to guess at a potential ARV. Seems like a high price tag for your first one.

@Jacob Delano how are you financing the purchase?  Standard loan, how much down?

@Steven Hershey it's tough to BRRRR when you're financing all or some of the purchase and rehab. Is $20K all the cash you have access to? And do you have savings and reserves in addition to that? To answer one of your questions, yes, you need your financing as lined up as you can get it in advance. Your agent should be advising you on this.