All Forum Posts by: Philipp Grajewski

Look into DSCR loans. DSCR = Debt Service Coverage Ratio. Not all lenders do this, but this is a loan where they don't consider your income, but rather the income potential of an investment in relation to its cost.

I might be able to swing by

Thanks everyone for your input! Looks like you saved me a lot of trouble. I have a lot to learn. @Justin Tahilramani, you are probably right about the mentor.

Hi all,

I would like some input on this potential deal, mainly on the numbers I used to estimate the rehab.

Keep in mind that I ran these numbers as a worst-case-scenario, so the ROI and cash flow are underwhelming. See below for my rehab analysis (I rolled that cost into the purchase price, since I will need to get a construction loan or similar for the rehab).

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Walk through video: here

The house is about 1300sqft (3 bd, 1.5 bath)

Rehab Analysis (from flipperforce.com rehab estimation spreadsheet) 

Roofing $7500

Windows $550

Countertops $980

Appliance Package $2150

Half Bathroom Remodel $1500

Interior Painting $1950

Tiling $84

Laminate Flooring $5200

AC Unit $3000

Total: ~$23,000

Thank you all. I really appreciate your input.

Hi all,

Myself and my wife Abby are new to BP. We live in the Southern Pines area near Fayetteville, NC, where we are working on building a portfolio of single family and multi family rental properties. So far, we own a house that we plan on renting out when we move on, and we are hoping to add to our portfolio as we find good deals in the area. We look forward to networking, learning and adding value to the community as we make our way forward.

Thank you!

Thank you! Those are some great insights. I appreciate you all chiming in. This gives us a better idea what more experienced investors are looking at.

Hi there,

My wife and I are new to the site. We are in awe of all the information and resources that are available through this community. A big thank you to all the members and contributors to this awesome site.

We have been devouring as much information on real estate investing as our schedules allow. We currently own a house that we will be holding and renting out, as soon as we move in a few months. We are debating whether we should invest in a second property at this point. We are considering BRRRRing a small multi-family or single family house.

At this point, we are unsure of how much cash one should have in reserve before getting into it. You hear of people starting out with basically nothing, financing 100%, but that seems very risky. We do have some cash reserves, as well as money in an IRA.

What rules of thumb/calculations have you used to determine at what point you are financially ready to invest in the next property?

We look forward to hearing about your experiences.

Same here, I am unable to login on the android app. It keeps telling me "Something went wrong, try again later". I have tried reinstalling, changing PW, etc.