All Forum Posts by: Jason A.

Hi @Barbara E. I ended up rolling my own BRRRR calculator in Excel that is quite a bit more refined than the BP calculator. It basically allows for an override for fixed cash/principal payment. In the BR BRRRR calculator, I plugged in interest only and tweaked the term and rate until it resembled what I'm actually paying. This is similar to what @Andrew Postell suggested above.

Hi team,

Been doing lots of analysis with the various calculators on BP. Hoping to get some help sense checking a particular analysis. It comes out as negative cash flowing, which is fine - I'm not looking to pursue. I am just hoping to get folks' view on whether I'm missing any expenses or otherwise.

View report

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

I've owned a rental property in Chicago since 2009. 2020 is the year to expand my portfolio and turn this into a business! You can consider what I'm doing "extreme" remote investing - I live in Singapore! There will be really unique challenges to this journey but I'm dedicated to making it work!

I'm looking into the Greenville, SC market because I have some friends there in real estate. I'm focussing on SFHs and will start with a BRRRR. (I have access to cash to make this work.) My current focus is building out the team locally in Greenville! (If you are a reputable contractor or PM, DM me!) My Q1 goal is to get comfortable with the market, learn (learn, learn, learn) and make the proper connections in the market. My 2020 goal is to close on 6 properties.

I plan to record my journey for the BP community in a way to give back. Hopefully my learnings can be the teachings for others!

Get in touch!

A few times in the BP podcasts (notably in ep. 327), Adam and Brandon have suggested that they make offers to buy property nearly on the spot often before inspections. They go on to explain their contracts have various buyer-friendly options that allow them to back out of the purchase for various reasons.

Is this type of option common? Do these guys have custom, well-honed contracts for this purpose or are these “off the shelf” standard boiler plate clauses?

Are there examples of these contests available? Do they vary state to state?

@Tom Shallcross, I refinanced my 30 year mortgage to a 15 year mortgage about two years ago. That will have been the third refinance since 2009 when I bought the property. Hence I'm a bit reluctant to refinance again... I agree that Chase is probably not the optimal lender for this situation. Who have you used in the past (if willing to share)?

@Crystal Smith the property is a 900 sq ft soft loft condo in Printers Row. I about break even on the property after accounting for property taxes, vacancy and capex reserves. As with Tom, I agree Chase is not likely optimal.

Thanks @Whitney Hutten! I especially liked the following points:

• Decreasing unemployment (more people have jobs to pay your rent)
• Increasing population (more people to rent to)
• Good job diversity (should one employer poof, your tenants have other jobs to secure)
• Good supply and demand (are rentals actually needed)
• Located in a B-class submarket

These are very consistent with my friend's approach.

What do you use for this information? Census bureau?

Greetings,

I'm considering various markets as a remote property investor. Some of my colleagues have fairly sophisticated ways of ranking markets (e.g. scraping data from Census bureau website, etc.).

I'm focussing on single family homes at this point. I'm open to BRRRR strategies and buy-and-hold. I have access to private money as well.

I guess what I'm after is an understanding of how to map various market features to property investing strategies. For example, if you're not expecting market appreciation, you'll need ways to force equity. If markets are hot, then flipping might be a good strategy. What does population growth do for property investments? What about average income growth? The list goes on...

What are the top five market features you look for in a market to consider investing?

Greetings,

I'm considering some options in unlocking value in my buy-and-hold property. It currently has roughly 145k of equity. It's appreciated about 45k since I bought it so a 1035 exchange is probably not that interesting to me.

I talked to Chase in Chicago about a HELOC. They will only consider lines at 50% of property value. In my case this is 280k x 50% - 135k which is basically nothing. (Perhaps some BP lenders have better terms?)

I've been chatting with a mortgage broker who suggested a cash-out refi. I'm not sure I like the idea of going from 13 years on a mortgage to 30 years on a mortgage.

My goal is to use the cash or line of credit to buy another property either all cash or near all cash.

Are there other options I might have against my buy-and-hold property (other than selling it outright)?

Thanks @Kathy Henley and @Andrew Postell that's what I ended up doing. Cheers!

Greetings,

I'm attempting to analyze a BRRRR deal using the calculator. The initial purchase will be done using a HELOC with a 4% rate and five year tenor. How do I indicate such a loan for the Purchase Loan Details section of the calculator?

I looks like the P&I calculation in the Purchase Loan Details doesn't support a HELOC, only a traditional mortgage loan.