All Forum Posts by: Tripp Warren

Quote from @Barry Ruby:

@Tripp Warren

I'd be happy to take a look

Quote from @Anthony Freeman:

Quote from @Tripp Warren:

Hi All,

I was wondering if someone wouldn't mind taking a look at my evaluation for two deals I'm looking at. I can share a google sheet in private message.

Thanks in Advance.

 I can help.

I'm trying to figure out if this deal is better suited for a buy/hold or just a flip. Home built in 1950. Will need a gut rehab and add additional bedroom/bathroom.

Thanks for any comments/opinions.

Quote from @Bob S.:

Quote from @Tripp Warren:

Hi All,

I was wondering if someone wouldn't mind taking a look at my evaluation for two deals I'm looking at. I can share a google sheet in private message.

Thanks in Advance.

Pos the numbers, NOTHING else just numbers. thats all that matters, 

Hi All,

I was wondering if someone wouldn't mind taking a look at my evaluation for two deals I'm looking at. I can share a google sheet in private message.

Thanks in Advance.

I don't know where else to turn other than the best REI think group in the world. I have a contract on a rural property in Texas. The property has two homes on it; 1 traditional wood frame 3/1 and 1 Double Wide Mobile home. Both have tenants. I'm looking to purchase the two and fix/flip into a traditional loan. For the life of me I can't find a lender who will loan on property in Rural Texas. The town is about 45 min NE of Austin. Samsung is building a huge manf. facility in an adjacent town. The shut down Alcoa plant recently sold to a developer who is planning on multiple large manufacture type industrial spaces and residential developments. This area is primed for growth.

Could anyone point me to a lender that will lend on rural areas in Texas?

PP: 150K
Rehab: 50K
ARV: 260K
Current rents (as is): 700/725
Predicted rents after rehab: 1200/1200

Thanks,

Tripp

Hi All,

I have a house under contract and I'd like to get 3 contractors to go look and submit bids for rehab on the property. There is a tenant in place and the sellers RA says to give an hour notice before sending someone so they can let the tenants know. My question is: In order to minimize the disruption to the tenant, would you schedule all 3 contractors at the same time or separate the times out? My thought is that if they all show up at the same time, perhaps this would influence the contractors to give better bids knowing that they have competition?

All thoughts/opinions are appreciated.

Quote from @Theresa Harris:

I'll preface it with it has been a long day, but how can it cash flow with 3-5% down (meaning 95-97% mortgage plus mortgage insurance) and not cash flow with 20% down (80% mortgage)?  The mortgage payments should be higher with 95-97% down than with 80% down.  Most places have problems cash flowing with only 5% down, but do better with 20% down.

I should have clarified and said that I could afford up to 10-15% down payment, but when if I have to put 20% down as required by most lenders for investment properties, then that takes away from the money available for rehab as I like the dirty/ugly ones.

Hi all,

I'm a newbie investor with one property that is a "land hack". I'm looking for my next deal. I'm interested in BRRRR type homes or homes that need some rehab. I'm finding lots of deals that work and cash flow with 3-5% (maybe even up to 10%) down but the deal falls when I work it with 20% down. I'm OK with making them my primary if need be, but generally the houses in my price range aren't habitable without 20G worth of rehab in most cases.

Are there ways around 20% down? 

Something that really saved me was installing leaf guards on my gutters. There are many versions available but well worth the $$. It essentially allows leaf debris to pass over the gutter and the water to still be caught in the gutter keeping them cleaner longer and negating rot and damage to the eaves.