All Forum Posts by: Account Closed

Hello! We close on our first investment home on the 14th (YAY!) We are planning on doing the BRRRR method. Most of our repairs are cosmetic (paint, new carpet, new windows, light fixtures, bathroom and kitchen updates) we are really relying on the refinance to get the money back that we are putting into renovations so we can continue to invest in other homes. Our renovations are estimated at $40,000 and we are moving in with $20,000 in equity) We don’t want to spend top dollar on things like appliances and carpet if we don’t have to since we will be renting the house out, will those things make a big difference on refinancing? For example, if we got new appliances- but just cheaper ones, not stainless steel or new carpet but a cheaper one, etc. We will be getting a new roof, new furnace, AC, water heater, windows because they are all on their last leg so we are hoping that will help a lot with refinancing! What do you guys think we can get away with getting for cheaper, but still bring up the value for refinancing?

Hello! We close on our first investment home on the 14th (YAY!) We are planning on doing the BRRRR method. Most of our repairs are cosmetic (paint, new carpet, new windows, light fixtures, bathroom and kitchen updates) we are really relying on the refinance to get the money back that we are putting into renovations so we can continue to invest in other homes. Our renovations are estimated at $40,000 and we are moving in with $20,000 in equity) We don’t want to spend top dollar on things like appliances and carpet if we don’t have to since we will be renting the house out, will those things make a big difference on refinancing? For example, if we got new appliances- but just cheaper ones, not stainless steel or new carpet but a cheaper one, etc. We will be getting a new roof, new furnace, AC, water heater, windows because they are all on their last leg so we are hoping that will help a lot with refinancing! What do you guys think we can get away with getting for cheaper, but still bring up the value for refinancing?

Hello! We are trying to get our first deal and looking into multi family homes. What are some things we should look for and ask before putting an offer in? Is there anything different from single family homes to consider? TIA!