All Forum Posts by: Nicole Wood

Brrrr would keep the money rolling property to property.

brrrr

Financing. I own two homes and am a registered nurse. I have a little bit of debt but not a ton and my DTI just climbs higher with each home I own. Plus saving a down payment each time is tough. Hoping to use a HELOC after we get this place fixed up and start a modified BRRRR process!!!

@Turo Tales I would buy some distressed properties and brrrr. Congrats on the sale and the profit! Awesome!!!

@Cole Raiford I would say yes. For cheaper prices...but as a newer investor I'm also fearful of recessions.

Are we able to come if we're not from syracuse area? I'm in Bath, NY near Corning and Elmira. We do not have any meet ups in this area unfortunately. I love everything real estate and would love to talk about it with like minded people!

I think that multifamily buy and hold but using the BRRRR method is the best way to go! There are so many potential income streams that way! You have rents and appreciation plus mortgage pay down by tenants. Plus, you get all of the money you invested back if you do it right and can quickly scale!!!

I am hoping to do a BRRRR and SOON!

I bought a duplex FHA style. It does make it slow going that's for sure!

Your debt to income is where lenders want it. I would suggest house hacking. You'll have to have some money saved up for an FHA loan but its 3.5% down plus closing costs. I would go for a fourplex for sure!

I would definitely look into BRRR. It really is the best way to get started and moving quickly.

Or...a househack, FHA loan on a fourplex. 3.5% down. Live in one apartment rent the others out. This would reduce your monthly expenses and add cash flow to save up and buy another.

Thats the thing...I asked about cost and he said it costs NOTHING! I knew there had to be a catch...I asked him like 3 times if theres a catch and got no every time. Obviously if it goes through I have to sign some stuff and will be able to read through it before I go forward.