All Forum Posts by: Tsipora Smith

Congrats on all the firsts! It's nice to see a fellow teacher. Thank you for your service (I feel as though we've all been enlisted if you're teaching during the pandemic). I'd love to connect with you. 

Sounds like they're flips. 

I would buy the property and budget for the repairs. I wouldn't expect to do anything to the property until I vacated those tenants. 

I'm a mortgage broker that can lend in almost all states but can't help myself. I can only lend in personal names. My first BRRR is in my LLC's name. I've completed the rehab and it's already rented but I need some good lender suggestions.

@Abraham Shamosh I'm looking to complete the BRRRR strategy on one of my properties so I'm need a cash out refi. Can you send me a message?

You should be going to a portfolio lender instead of a bank. Banks are restrictive in their lending. Portfolio lenders are accustomed to lending to rental property investors and are truly only evaluating the asset. 

It will first depend on your exit strategy. If you're planning to use the BRRR strategy I typically do 2 different analyses. The first analysis I do is with the hard money and I'm just looking to at least break even during this period (we get the rehabs done pretty quickly and because the market is so hot it rents FAST). Then I do a second analysis based on the projected refinance interest rate to make certain I'll both cash flow and recoup my funds.

I would say the less desirable areas of Dallas county have a pretty nice ratio. Some 4 bedrooms are going for over 3k on section 8! 

You are absolutely right in the sense that you are giving away your equity. Is it possible to lock in a sales price now as is, add you guys to title and treat it as seller finance where you're paying off the note with the rent you're giving him from the one unit?

ARV is merely what a professional can reasonably assume the property will sale for on the market once all repairs have been completed. The best way to get your ARV is from partnering with a realtor. Second to that you can try to pull together comps (like homes in the same subdivision) which have recently (within 90 days) sold to ascertain the ARV.