All Forum Posts by: Ryan Huddleston

Originally posted by @Brandon McLean:

I'm having trouble changing a unit from Vacant to Occupied. I feel like I've clicked everywhere.  Anyone have any suggestions?

 I had the same issue. Type in the rent amount where is says Vacant

I have a multifamily that cash flows great. I would like to get into single families because they are so much easier to find here but its proving to be a bit challenging. 

@Jaysen Medhurst I may need to look at keeping the refi to 35k. I was hoping to make it cash flow with a 50k refinance so I have more buying power for the next one.

I think the color is fine for a rental but its up to you. something neutral is usually best. 

50k for what? If their system is THAT good then why are they wasting time teaching classes when they could be spending all that time investing in real estate. Go flip a few houses. You might loose 50k but you will learn a whole lot. 

I am looking at a few SFHs in C areas to BRRRR. Lets say I can pick one up for 20k (I have one in mind actually) put 10-15k in it and the ARV is 70k and it will rent for 700/month maybe 750. I could refinance and take out a 50k loan. Lets say 20 years at 5%

Mortgage $330

Taxes $100

Insurance $100

Vacancy, Cap X, Maint. (5% each) $105

Property Management $70

Total $705

So I'm negative $5 per month. 

Am I missing something? Even on a 30 year loan im only cash flowing around $60/month. 

I would buy a duplex if you have no experience flipping. Flipping is hard and the margins are thin. You can loose a lot of money if you don't know what you are doing. A good hybrid would be to buy a fixer upper duplex. You could rent one unit while you flip the other. That way you still have some income coming it and you get to learn about flipping. 

I would not go white. It will show wear very quickly. If you want to brighten up the place, consider replacing some light fixtures with brighter lights. LED lights a cheap now and can get really bright. 

Im leaning that way too. Thanks

I bought a house a year ago then did a major rehab. I advertised it for rent and even showed it to a few potential renters but decided to sell it instead. Can I 1031 exchange it since it was never actually rented or does it have to be treated as a flip?