All Forum Posts by: Yosef Ajami

@Evan Polaski sorry for the late response!

Thank you so much for this! It was extremely informative.

I think at this point we just need to be ready to take action in case things change drastically over the next 2 years...for better or for worse....

@Andrew Postell thank you so much! I actually didn’t know that this was a thing!

I’m a current New York resident that’s looking to slowly get out of the corporate world and more into the rental property world. My plan as of now, is to work for at least another year or so here in New York, and once i have enough saved up. Make my move down to Florida where I’d be able to slowly build my real estate portfolio. (New York is a bit expensive for me at this point).

I've been looking a lot into the BRRRR strategy and my question is; where in Florida is the most ideal area to do so? I've heard that for example, the Orlando area isn't the best for this type of investments....

I’m honestly open to moving anywhere in Florida in order to be able to pursue this.

Looking to eventually (within the next 3 years to move to the Miami Area) and start investing in rental properties. I will most likely be coming with around 100k saved up and looking to start buying more and more using the BRRRR strategy.

I was wondering if anyone has any tips on what areas I should be looking into.

And if anyone has experience using the BRRRR strategy in Florida, I would love to be able to speak and gain some knowledge:)

@Jesse Byrer thank you so much for this answer!

In regards to your second point: to create an instant 20%-25% equity, i would just have to up my down payment?

@Joseph Cacciapaglia ok that makes a lot of sense! Thank you so much!

For me, since I’m looking to invest not in my residential area, house hacking may not be an option, but I can definitely try the traditional buy and hold until I get the hang of buying and dealing with properties!

@Joseph Cacciapaglia thank you so much for the well written response. The thing is, I'm super young (early 20s), and i am extremely eager to start investing. Would you say that if I practice the right amount of caution, and seek as much professional advice as I can about my first few investments. It is worth taking the risk and pursuing the BRRRR strategy...(it just seems like the "fastest" way for me to build a portfolio early on in my life)

New to the real estate market and looking to learn. I was reading a lot about the BRRRR strategy, and was really excited that I found such cool way of investing. But after watching many videos, I came across one specific video of someone playing the devil's advocate: he was saying how no one talks about the possibility of your property value dropping below the "after renovation Value" and having your lender ask you for the difference? Is that actually something that can happen? And how do you avoid this? Do you just try and choose the right market where prices won't drop, and hope for the best?

I'm a young professional saving up money for my first rental property investment. I've stumbled upon the BRRRR method and it really fascinated me, but I was still left with a few unanswered questions after reading all about it and wanted to see if someone can help me out. (Keep in mind that I'm a super amateur, and really trying to learn)

1) from my understanding, you have to make sure that the rental income from the property will cover not the original loan, but even the bigger “refinanced” loan is that correct ? Cause other wise you’d be spending money out of your own pocket.

2) in terms of calculating the risk of you having to look for tenants for some time every now and than (at first and between leases), how do you guys make sure that you’re not taking a huge hit financially?

3) finding Fixer uppers that are a good deal....how realistic is that for me to find 2/3 of them a year?

4) last but not least, 15 or 30 year mortgage ?