All Forum Posts by: Sebastian Rodriguez

Whats up BP! I’m planning to invest out of state. Would like to get any advice on conducting rehabs on properties that are going to be out of my immediate reach. What should I be most concerned with?.. Have any of you had success in such a venture?... Thnx for your time

@Marisa R.

Hello Marisa. Do you have any RE agent recommendations in Detroit?

Good evening BPers! Became interested in using a 203 Loan to brrrr on my first property. Would like to get thoughts and any advice or knowledge from anyone who’s been thru this process before using this method.... thnx for your time

Good evening BPers! Became interested in using a 203 Loan to brrrr on my first property. Would like to get thoughts and any advice or knowledge from anyone who’s  been thru this process before using this method.... thnx for your time

@Sharron Morrow Hi Sharron, I suggest a certified home inspector to walk thru the property aside from the contractor. From there you can compare and contrast actual necessary work to be done. Just having the contractor doubling as the inspector is a conflict of interest. Unless you know and trust this person, it’s a good chance he’ll add things that aren’t needed just to increase his bid. And if you aren’t familiar w/ home remodeling/construction, using a certified inspector you can trust can be extremely helpful.

Would like some help understanding the refinancing process. Using the BRRRR system, once I refinance the home w/ the equity i've added, does the mortgage now reset to the new value of the home? And does that mean higher monthly mortgage payments/taxes after appraisal?

Thnx in advance

@Brady Macdonald the average person has no clue how much is to be made in trades. I’m a ironworker in NYC, a bad yr for us pays 2 “professional” salaries in another state. But trades aren’t for everyone, very demanding hrs and it’s a totally different scene from your average college grad’s “dream job”

@Paul Sandhu I’m one of those “scary ironworker” guys you speak of and we all don’t have neck tats! Lol (joke). What do you do w/ the property after the work has dried up?

@Ariel Herrera what’s up cuzo!!! Glad to see you on here!!! I’d recommend letting the banks money work for you. Meaning pay your mortgage as is and allocate all of the left over funds toward your next acquisition, since You’re already locked in @ a good interest rate. Always run the numbers but if you’re giving yourself that much time, I have no doubt you’ll have the equity or liquid cash to set you up comfortably for your next purchase

What’s up everyone, any thoughts on buying already occupied, cash flowing properties?....