All Forum Posts by: Sonny H.

A case study of the 2-5-7 would be a great idea. With chicago prices ranging around 200, to 300k, how do you pay them off within 7 years if you down 20- 25%?

@Casey Mericle Thanks for your advice. Really appreciate it.

Hi - I was wondering if you were using a brrrr strategy on all the properties you bought how do you go about paying it off and retire early?

Example: buy a distress property , muiti units for 300k, ARV is $500k

down 20% = 60k

closing fee 5k

rehab 45k

Cash out 70% LTV x 500k = 350k

350k -240k owe =110k cash out

cash flow lets say around $500 monthly

and decided to repeat .

Should I use the 110k cash out  to buy 2 properties (300k) each

or should use all the $110 to down for 1 properties?

If I keep on doing the brrrr strategy and keep cashing each property out how would I paid those off?  With that said, if buy 3 properties , its $500 monthly cash flow for each property, total $1500 monthly then it will take me forever to retire. People say let the tenants pay the mortgage off, then it will take 30 years to be paid off. Please advise what strategies  should I take? All successful investors, please enlighten me.

@Lumi Ispas  

With 3 units with 2-3 beds will it meet the 1% rule? 2 beds runs around 1000 - 1300, 3 bedrooms 1200-1500.  If you are buying a 3 units with 2 bedrooms , rent is 1200, total is 2600, and bought property 300k , plus repair $50 thats below 1 %.

Please advise how do you calculate income? What is a good deal with rental property, $600 to 1k after PITI for a 3 unit?

@Frank Sanchez, Even though at 3 - 4 units are high, they are in the 400ks w/o any repairs yet. 

@ Dorthy Wulf , Please Pm if you can. Thanks in advance.

Frank Sanchez from Chicago, Illinois