All Forum Posts by: Nik Lee

Hey everyone,

I was wondering if anyone in this group has tried bandit signs and what were their results. I invest in a very blue collar city (Milwaukee, WI) and I have seen other investors’ signs around. I was wondering if it was worth the try.

My tenants provide their own appliances and are responsible for it. In my market renting a unit is just about as hot as buying one, so I don’t see a reason to buy one and add the responsibility of up keeping appliances. My units are still renting quickly. Also my properties are in C class area, and other investors in my area had their appliances taken when tenants leave.

However all I own are duplexes. Tenants Providing own appliances can get complicated for bigger multi unit apartments.

@Frank Agyeman-Duah

Obviously you can look at this situation two ways.

Number one

This sucks. You put in $800 for inspection and appraisal and got pretty much nothing out of it, other then some experience of the process of buying.

Number two

You found a killer deal. The seller obviously doesn’t want to deal with the tenant that’s why he’s selling. And there isn’t anyone else who will take on the seller’s problem other than you. For the right price. For the magic number. You can take on this.

Remember as a real estate investor, you are the problem solver. And you will be financially rewarded.

@Brian Nichols

Yes I agree that would be a worst case scenario in which ARV come in much lower than expected.

@Kenneth Garrett

Thank you for your input. I do hope that the peak will be behind us. Otherwise I would be to do a buy and hold for the time being.

Hi all of BP,

A newbie here. I had spent the last few months learning RE strategies and thought BRRRR would be a great strategy for me. I had spent the last month or so building relationships local hard money lenders, banks, and RE agents. I had an LLC set up along with being pre approve. Now COVID 19 is in full swing which kind of halted my decision of using the BRRRR strategy.

So my question to the more season investors is should I even try to attempt a BRRRR given the market conditions and risk the possibility of losing money if the market declines too much? Do you see bank lenders even give out options of refi in the next six months?

Thank you all

Awesome job @James Gate.

I’m newbie investor and was curious how you were planning to fund the deals you have in currently have in contract. I know you found private fund for this deal.

I wish you nothing but more success.

@Josh VanSetten

Nice work. Congratulations on your first brrrr

@Jessica Krueger

I want financial freedom so I can enjoy the better things in life rather than having to work a W2 job and build generational wealth to leave for my children and children’s children.

@Scott Schultz

That is also a very good option that I have not thought about. Thank you for your input.