All Forum Posts by: Tashina Taylor

@Moises R Cosme The house is not in Gillette. It's in Oregon on the coast. We ended up getting in touch with the bank we were trying to get a conventional loan through and they said we will not have an issue with a refi as long we were getting more than $2000/month from the place. Hooray!

@Moises R Cosme Aren't multi-family homes notoriously hard to sell? I'd be afraid of getting stuck qhen the whole payment comes due in a year.

I had considered selling them as apartments or townhouses individually as that would make them more affordable for someone to buy and live in, but I don't know the logistics of that.

@David M. Thank you!

@David M. Does the equity play any part? We're expecting it to appraise for around 500k after repairs.

@David M. Is that specifically for a commercial refi or something else?

Hey guys! It's HAPPENING! I found a deal and I have a hard money lender ready to go. All we have to do is pull the trigger. BUT with the current state of things, there are a few hiccups that worry me. The property in question is an as-is Triplex. We're expecting to do some major renovations, so we will have to evict the tenants as the units will not be livable while we're doing that. This is supposedly an exception to the CV19 eviction moratorium anyway so I'm not TOO worried about that detail. The one I am worried about most is the cash-out refinance. The only way to get a refinance is if you're making money, right? So you HAVE to be making enough money from the units being rented out to count as sufficient income for the bank to refinance, right? I don't know why, but I feel like getting a refi is going to be a pain in the ***. Other than the rental income, we will not have anything else. Will the rental income be sufficient? if the BP calculator isn't lying, we should be pulling in ~$3,600 total and then expect to have a mortgage payment of $1200-$1700, depending on what the final accepted offer is. 

Does anyone have experience with trying to get their first BRRRR deal refinanced? Any help or advice in this regard would be appreciated.

Hey there! I just discovered the Data section thanks to Josh's webinar tonight. So I downloaded the datasheets and got to exploring those...However, I can't seem to find what "count" means. Are these counts ("Count 2017, Count 2019, Count 2020") are they sold houses or listed houses?

Thanks! Has anyone else played around with the data yet?

Oh my goodness, that was a hell of rollercoaster! I bet you're glad to be out of the loop-de-loops!! Thank you for sharing your experience with this and can't wait to hear about your final update.

 Youtube is such a life saver!! Thank you for that info about the duplex's. Maybe we'll look at places with MIL units as well. There's a lot of options, just gotta find the right one!!

@Deonte Ademiluyi

I was able to purchase a home in Wyoming for $0 out of pocket thanks to the Wyoming Community Development Authority. I only needed $500 earnest money!

There are many opportunities like this in every state. Wyoming is unique in that they need more people here. I see you are from Texas. You may want to take a look at Wyoming if you're familiar with the oil field.