All Forum Posts by: Trevor Finn

Hey @Scott Vaeth,

That 6% tax hit in South Carolina is definitely a big factor to account for in your BRRRR strategy. Since you're still living in the property, you might be able to house hack and keep the lower owner-occupied tax rate—worth confirming with a local tax advisor. If renting it out only covers half your mortgage, that might not be sustainable unless appreciation offsets it. Selling off part of the land could free up some cash without losing the whole property.

@Joshua Martin,

If there’s a chance you’ll sell next year, a HELOC might be the better move since it typically has lower upfront costs compared to a cash-out refi. A refi makes more sense if you plan to hold the property long-term as a rental. You’ll want to weigh the interest rates and closing costs against your expected timeline.

Hi @Stacie Telles,

Finding lenders that offer cash-out refinancing with minimal or no seasoning periods can be challenging, as many conventional lenders require a six-month to one-year seasoning period. However, some community banks and credit unions may offer more flexible terms.

Best of luck!

@Aristotle Kumpis,

To answer your question, Yes!
The key is by leveraging OPM (Other People’s Money).
Do you have private money lenders in your circle who might fund the deal in exchange for equity or some interest?

 You're welcome, Joshua! Would love to hear about your progress!

Hey @Beau Wollens

Your numbers show a massive swing in potential profit, so refining your renovation estimate is critical. The biggest cost variables are structural surprises, electrical/plumbing overhauls, and environmental hazards (asbestos, lead, etc.). Since you can’t do a formal inspection, a detailed contractor walk-through and phased renovation estimate are key.

Have you considered checking city records for past permits to uncover any unaddressed issues? Since Stamford’s market supports higher-end finishes, who is your target buyer, and do you really need top-tier finishes to maximize ROI? 

What’s your contingency plan if costs overrun?

Exciting times ahead, @Joshua Kavadi! 💪 

Start by networking with local investors and wholesalers to find deals, build relationships with contractors and lenders, and analyze numbers relentlessly so you don’t overpay.

Stay focused, take action, and don’t be afraid to learn as you go! 

What’s your first move? 🔥

@Kiryl Ulanovich,

You're on the right track:

1. Get Pre-Approval from Hard Money Lender – Know your terms and limits upfront.
2. Find a Deal Through a Wholesaler – Verify numbers and ensure it meets your criteria.
3. Review the Assignment of Contract – Confirm terms, earnest money, and contingencies.
4. Conduct Due Diligence – This includes an inspection (if allowed), verifying ARV, and rehab estimates.
5. Submit to Hard Money Lender for Final Approval – Lender will review title, contract, and property condition.
6. Title Search & Clear Any Issues – Ensure a clean title before closing.
7. Close Through Title Company – Finalize funding and take ownership.

Consider also lining up contractors early for a smooth transition into renovations.

Hey @Matthew Allen

It’s a creative strategy that could work in the right circumstances, but there are some risks to consider. Offering a rent-free period helps the seller stabilize, but what happens if they still can't afford rent when the time comes? You’d need a clear exit plan and enforceable lease terms to protect your investment.

Think about the following:

1. Tenant Risk – Can they truly recover financially, or will you face another eviction situation?
2. Legal Structure – Would this be structured as a leaseback or seller financing with safeguards?
3. Market Fluctuations – What if appreciation stalls, or rates rise, impacting your refi strategy?

It’s an interesting approach, but ensuring a strong screening process and a legally solid agreement is key.

@Khyree Randall

It's definitely frustrating in competitive markets like Sacramento, but you’re not necessarily doing anything wrong! In hot markets, some wholesalers and investors use 80-85% of ARV (minus repairs) instead of the typical 70% to stay competitive.

A few tips:

1. 1. Reassess your repair estimates and see if you're being overly conservative.
2. 2. Network with local investors to understand what formulas they're using.
3. 3. Explore off-market deals where competition might be less intense.

Don’t get discouraged—success in these markets often comes from building strong connections and thinking creatively about deal sourcing!