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When your PM sends you "gifs" that brightens your

When your PM sends you "gifs" that brightens your day 🥳🥳🥳
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The marks one of my best #brrrrr deals - especially with the rent increase!! 🏦
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We had a tenant right at the heart of COVID-19 lockdown that prepaid 1 years worth of rent. Amazing timing especially with the eviction memorandum going on.
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Lease not renewed - so we bumped rent from $975....to $1300 💵
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Took a few weeks to turn it around and now leased for $1350!
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Deets below ⬇️⬇️:
🏚Purchase: ~$49K
🛠Rehab: $20k
💵All in: ~$69K cash
🏦Appraised at $110k, now probably worth $120K+
💵Cash out refi: $69K back in my bank
🏡Rent now: $1350/month
💰Cash flow: $630/month (before reserves)
Cash on cash return: infinite 🚀🚀
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Tip:
Don't be afraid of rent increases during a tenant turn, especially if demand is there! Cash flow and appreciation FTW!
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#realestateblog #realestate #passiveincome #cashflow #housetransformation #investor #fixerupper #biggerpockets
#rehab #houserenovations #forsale #remodel #budgetremodel #rentready #realestateinvesting #realestateinvestor #outofstateinvesting #brrrr #brrrrstrategy #buyandhold #fixerupper #investor #investment #cashflow #financialfreedom #buildwealth #wealth

Another half #BRR in the books! (Still waiting on

Update on our recent Rental we listed for sale: Ju

Update on our recent Rental we listed for sale: Just received the Clear to Close and closing this Thursday!! 🎉🎉🥳🥳
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Appraisal came in at contract price! Buyer's Inspection was spotless🌟However the buyer's financing hit a little bump, pushing the closing date out a few times and had us holding our breath!
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So glad we took advantage of this crazy market to sell our lowest fruit rental 🏡
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#realestateblog #realestate #passiveincome #investforretirement #housetransformation #beforeandafter #fixerupper
#rehab #houserenovations #forrent #rentalproperties #dontbeaslumlord #bathroomremodel #remodel #budgetremodel #rentready #realestateinvesting #realestateinvestor #outofstateinvesting #brrrr #brrrrstrategy #buyandhold #fixerupper #investor #investment #cashflow #financialfreedom #buildwealth #wealth #forsale

Taking over #palmsprings with some of my favorite

Taking over #palmsprings with some of my favorite REI ladies ❤️👯‍♀️ @investingforfinancialfreedom @themodel.investor #palmsprings #realestatebossbabes
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#invest #investor #investher #realestate #realestateinvestor #millennials #millionaire #realestateinvesting #reicommunity #cashflow #fixerupper #beforeandafter #investmentproperty #realtor #realestateagent #passiveincome #biggerpockets #brrrrinvesting #brrrrstrategy
#financialfreedom #retireyoung #retireearly #buildingwealth #firemovement #financialindependence #financialindependenceretireearly

We are under contract! We received 3 offers on day

We are under contract! We received 3 offers on day one and a total of 6 offers (all were at least $5k ABOVE asking except 1, who was an investor)
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We had one offer that was almost $20K above asking and will take the property "as is" BUT they are a FHA buyer.
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Instead - We decided to accept the offer from a conventional loan buyer with still a very strong above asking "as is" offer.
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Here's the reasons we decided against the FHA buyer with a high above asking "as is" offer:
1️⃣ FHA inspections are pretty strict. "As is" offer means nothing in FHA lending as you are required to make repairs that FHA flags or the deal will fall through.
-certain things that FHA appraser will flag is peeling paint, broken windows, steps, crack in concrete etc
2️⃣ If the home is appraised for less than the agreed-upon price, the seller must reduce the selling price to match the appraised price, or the deal will fall through. In this case, the buyer offered $20k above asking. If the appraisal comes back at list price...the seller has to come down. (I hear mixed things on this...is this 100% true??) Even if the buyers say they can come up with the difference, usually these buyers don't have much cash on hand anyways - which is why they chose the FHA route....anyways, didn't want to take the risk.
3️⃣ If you get a very low appraisal from the FHA appraisal - it's going to be hard to sell it later. Why? If you do decide to list the home again, the appraisal stays with the property for 120 days. 😣😣
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I feel like I'm missing other things too, but these are the main reasons why I went with the "safer" offer as it has higher chances to close.

What are your thoughts on FHA offers?
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Anyways, hoping for a smooth rest of the sale process!!
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#realestateblog #realestate #passiveincome #cashflow #housetransformation #investor #fixerupper #biggerpockets
#rehab #houserenovations #forsale #remodel #budgetremodel #rentready #realestateinvesting #realestateinvestor #outofstateinvesting #brrrr #brrrrstrategy #buyandhold #fixerupper #investor #investment #cashflow #financialfreedom #buildwealth #wealth #assetprotection

Wow this market is on 🔥🔥🔥We're in a MULTI

Wow this market is on 🔥🔥🔥We're in a MULTIPLE offer situation!! 🤩🤩
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3 days on the market, 23 showings (4 more scheduled for this morning)! Technically 2 full days, because on the first day of showing (Wednesday)- one of the agent happened to "lose the key" so we had to cancel ALL showings for the rest of the day!! My realtor told me they can be sneaky and hide the key so others can't see it. Some crazy stuff. We had a spare key, so showing resumed all day Thursday and Friday.
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Check out these awesome reviews. Complete opposite of when I tried to sell this house 3 years ago - Everyone thought it was overpriced.
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Tip: if you're on the fence about selling and getting rid of your low hanging fruit rentals...NOW is the time my friend 🤑🤑
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Fingers crossed for some STRONG offers!!! 🤞🤞🤞🤞
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P.S. I love love this showing app - it's called "Showtime" and it sends real time bookings of who is viewing my property as well as showing feedback! It keeps me on the forefront of what's happening with my listing. Love it.
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#realestateblog #realestate #passiveincome #investforretirement #housetransformation #beforeandafter #fixerupper
#rehab #houserenovations #forrent #rentalproperties #dontbeaslumlord #bathroomremodel #remodel #budgetremodel #rentready #realestateinvesting #realestateinvestor #outofstateinvesting #brrrr #brrrrstrategy #buyandhold #fixerupper #investor #investment #cashflow #financialfreedom #buildwealth #wealth #forsale

It's been a busy week trying to get this property

It's been a busy week trying to get this property ready for sale....AGAIN!! We just listed this property on Wednesday and multiple showings already! This one is a very interesting investment of ours. Read below for the full story ⬇️⬇️

Bought this property back in 2018 for $70k and put almost $50k into rehabbing it (all in $118k). Wayyyyyy over budget. It was initially suppose to be a rental, but because we spent so much money - we decided to just sell it. Ended up listing it for sale for $143k to just "get rid of it" and make "some profit". Ended up not selling due to a SLOW market (after multiple price reductions).
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We ended up going back to the original plan and renting it out for $1300/month and got it rented within 3 days.
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Cash flow was at about $250/month (after reserves). It was an amazing rental with no maintenance issues.
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The amazing tenant finished his lease and we bumped the rent up to $1425/month - great news right?
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Fast forward to 2019 - property taxes DOUBLED!!😭Bringing my cash flow down to just under $100/month (after reserves) - some month losing money due to small repairs.
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I hired an attorney to appeal the tax hike - and appealed denied twice.
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This next tenant ended up not renewing their lease and we were going to get it re-listed to $1500/month. Which will bring our cash flow to around $100/month (after all reserves).

- yes it's still a cash flowing rental. But the city has been increasing its taxes every dam year 🤬 It's due for another tax hike this year. And the cash flow increase will be a wash.
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We decided it was time to sell, again. This was one of our very first rentals and it's gone thru quite a bit.
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We listed it for $149,900 and hoping that this CRAZY market will get it sold at asking or more.....So we can walk away and get some profit from this. Not a lot. But we've been meaning to sell this one since the taxes have made it an unfavorable rental.
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Sometimes it's good to just let go, especially when the timing is right!!
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‼️Lesson: don't invest in Illinois. The state with the worst property tax rate.

🛠Yesterday was the start of our home remodel! T

🛠Yesterday was the start of our home remodel! The crew came by and moved all the furniture to the PODS and packed up all our belongings for us as well. They spent the entire morning removing the laminate floors and all the baseboards - I'm impressed with how fast they work. Can't wait to get the new LVP floors in!
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Note: We are remodeling our home due a pipe that burst behind the wall, damaging a section of the floor. Since we had laminate floors, the water destroyed it completely.
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We are fortunate to have insurance coverage during this unforeseen event. Insurance will be paying for the entire floor replacement since the floor runs throughout the entire downstairs living space #thanksinsurance 🙏🏻
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#realestateblog #realestate #passiveincome #investforretirement #housetransformation #beforeandafter #fixerupper
#rehab #houserenovations #forrent #rentalproperties #dontbeaslumlord #bathroomremodel #remodel #budgetremodel #rentready #realestateinvesting #realestateinvestor #outofstateinvesting #brrrr #brrrrstrategy #buyandhold #fixerupper #investor #investment #cashflow #financialfreedom #buildwealth #wealth #assetprotection

Haven't had a chance to update on this most recent

Negotiation has finally closed for this next #BRRR

Negotiation has finally closed for this next #BRRRR deal 🏚 Placed this one under contract ABOVE asking price just a few hours after it hit the MLS...and 2 weeks later - a signed final acceptance of $45,000 cash deal... $15K LESS than asking price!
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Here is where I used speed & a little bit of psychology to get my offer accepted...
1️⃣ It's okay to offer over asking, especially in a sellers market. Low ball offers don't always work. Higher offers will get the seller excited & act on their emotions, especially if it's a cash offer w/ short inspection period. Some sellers just want to get rid of the property, they don't want to entertain another buyer, so they rather work with the current offer/buyer than to lose the contract.
2️⃣ I still requested a 10 day inspection. I do a full home inspection: don't forget sewer and windows. I want to make sure I know exactly what I'm buying and don't want miss anything because "I didn't know" or "oops didn't check".... if I didn't check it, it's on my contingency. Learned this from my past rehabs.
3️⃣ Once I get the inspection results back, it's now time to go back to the seller & negotiate & get the deal I want. I'll bring up items that are pretty significant. Sewer, foundation, roof leaks, hvac etc. If it's not an As-Is sale, all negotiations are fair.
4️⃣ In this property - We asked for a $20K price reduction (over estimating worst case scenario) and surpisingly got it! Never hurts to ask.
5️⃣ Be ready to walk away if the numbers don't work. I like to be at least 1% rule all in with a $10K contingency. So if my all in is $75k - I add another $10K for "oh crap, didn't see that coming." And if it meets the 1% rule and close to my 75% of my ARV, then I'm golden.
6️⃣ My rehabs are not lipstick on a pig, they address all major components. I make sure all mechanicals are working/have at least a 5 yr life span. If not, it gets replaced or included in my $10k contingency.
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Hope these tips help you land your next deal!

First offer of the year in! The market is super ho

First offer of the year in! The market is super hot and all inventory is overpriced and selling above asking. Darn those crazy out of state investors 🙈🙈 So when this came on the market - I had to act quickly.
➡️Listing showed up at 6pm in my mail notification
➡️ Forwarded listing to my awesome realtor at 6:01 PM
➡️ Offer submitted at 7:16 PM
***I changed my mind an offered $2K above asking to help seal the deal.
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Most of my deals have been from the MLS. Here's some tips that worked for me.
✅I get notifications sent directly to my email with any new listing, price change or back on market
✅ I put an offer in immediately if the numbers work and I'll dilly dally and go over small details later
✅ If the numbers work and it's a hot market, I will offer a little over asking (because a few hundred or so won't break the deal if it's a good one to begin with)
✅ I always do an inspection. Always! Full scope, with a professional plumber and hvac person coming out to do a check up and run a sewer scope. Inspections are set at 10 days default.
✅ Make sure to know your market very well so when you put in your offer, you already know comps and rent rates
✅ I add another $10K contingency to my visual estimate rehab budget, and if the numbers meet the 1.2% rule, and 75% ARV....I'm good.
✅ Last, but most important, have an amazing realtor who is aggressive, fast and has your best interest in mind. Can't get offers in fast, if you're realtor isn't checking their messages 🙈
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Stayed posted!!
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#realestateblog #realestate #passiveincome #investforretirement #housetransformation #beforeandafter #fixerupper
#rehab #houserenovations #forrent #rentalproperties #dontbeaslumlord #bathroomremodel #remodel #budgetremodel #rentready #realestateinvesting #realestateinvestor #outofstateinvesting #brrrr #brrrrstrategy #buyandhold #fixerupper #investor #investment #cashflow #financialfreedom #buildwealth #wealth #assetprotection

Well it was bound to happen 😩....COVID has just

Well it was bound to happen 😩....COVID has just officially infiltrated my rental portfolio.
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Just got news that one of my very best tenant has left the premises with 3 months left of his lease remaining. Swipe over to read his text to my PM.
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I want to share this to show you that this can really happen to anyone. These tenants were the best. Great credit score. Worked in great jobs, took care of the property and never one single late rent check. However, medical & family emergencies can really create a financial burden for anyone.

What now?
✅ tenants were paying $850 month with a $300 pet deposit. They will now forfeit the entire $1150 to me.
✅ PM will visit the property & assess for any damage (which I think will be very minimal) and get it rent ready.
✅ list it for rent and due to this crazy market, hoping to get this one rented ASAP.
✅ Some landlords will choose to go after the remaining rent but I will not. It's a tough time for everyone and his actions to leave the keys and send a explanation text is more than I can ask for.

Here's the best part that I want each and everyone of you to know and sign up for!
✳️ I have a "skip rent" rider on my insurance policy on all my rentals. Insurance will be paying out $1000 for any property where the tenant either broke their lease early or getting evicted due to non payment. We should be able to get this rented quick - so the $1150 security despot and the $1000 skip rent payment should make me whole again.
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I just submitted my claim, so will keep you posted once I get it approved. Stay tuned!
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#realestateblog #realestate #passiveincome #investforretirement #housetransformation #beforeandafter #fixerupper
#rehab #houserenovations #forrent #rentalproperties #dontbeaslumlord #bathroomremodel #remodel #budgetremodel #rentready #realestateinvesting #realestateinvestor #outofstateinvesting #brrrr #brrrrstrategy #buyandhold #fixerupper #investor #investment #cashflow #financialfreedom #buildwealth #wealth #assetprotection

Checked off one of my 2021 goals! ✅ Increased u

Checked off one of my 2021 goals!
✅ Increased umbrella policy coverage from $1 million to $4 million....total cost difference about $100 more a month. (I was paying $650 a year for 1 million coverage prior with another carrier). All my properties already have 1 million in liability so my total will now be $5 million coverage!

I can sleep a little easier at night now, but still have more plans this year for better asset as well as income protection.
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Personal protection:
✅ Need to finalize my disability insurance ~ getting quotes for $200/month for about $5000/month in disability income. This is quite important as if something were to happen to me where I'm unable to work, the monthly benefit amount will at least take care of all my monthly expenses and more.

Real estate protection:
✅ Most of my properties are under my personal name, I have a few properties that are free and clear, so I'm planning to transfer them to my real estate LLC an added protection.

What are you doing to protect your assets & income relief in case of a sudden event?
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#realestateblog #realestate #passiveincome #investforretirement #housetransformation #beforeandafter #fixerupper
#rehab #houserenovations #forrent #rentalproperties #dontbeaslumlord #bathroomremodel #remodel #budgetremodel #rentready #realestateinvesting #realestateinvestor #outofstateinvesting #brrrr #brrrrstrategy #buyandhold #fixerupper #investor #investment #cashflow #financialfreedom #buildwealth #wealth #assetprotection

It's a Christmas 🎄 miracle, another big rehab d

It's a Christmas 🎄 miracle, another big rehab done!! 🥳This is a historic duplex that has beautiful large trims, original hardwood floors and lots of big windows and character! Swipe ➡️ to see the before & afters.
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This is one of my largest out of state rehab to date so just wanted to share snippet of the rehab at a time. Lots of lessons learned on this one and so thankful it's finally over and I still have my sanity 🤪
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Funny story: Did you know that I had my contractor refinish the floors a very dark color and then midway through the day changed my mind? Yeah he hates me 😭. Very happy that I chose to lighten it up 😊
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#realestateblog #realestate #passiveincome #investforretirement #housetransformation #beforeandafter #fixerupper
#rehab #houserenovations #forrent #rentalproperties #hardwoodfloors #bathroomremodel #remodel #budgetremodel #rentready #realestateinvesting #realestateinvestor #outofstateinvesting #brrrr #brrrrstrategy #buyandhold #fixerupper #investor #investment #cashflow #financialfreedom #buildwealth #wealth #retireearly #womenempowerment

Sharing some good news with all my fellow landlord

Sharing some good news with all my fellow landlords/ladies who are or will be affected by tenants who are struggling with their rent payments. The stimulus bill that recently passed Congress includes an Emergency Rental Assistance program 💸🏡
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The key part is that landlords can apply on the tenant's behalf (as long as the tenant is able to co-sign) - up to 12 months.
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I recommend that you contact your local housing coalition to inquire on where/how to apply, and be prepared for when applications do open.
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P.S The bill is so new that Trump still needs to sign off on it. See link in bio for the actual bill.
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Stay tuned for more updates!
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#realestateblog #realestate #passiveincome #investforretirement #housetransformation #beforeandafter #fixerupper
#rehab #houserenovations #forrent #rentalproperties #dontbeaslumlord #bathroomremodel #remodel #budgetremodel #rentready #realestateinvesting #realestateinvestor #outofstateinvesting #brrrr #brrrrstrategy #buyandhold #fixerupper #investor #investment #cashflow #financialfreedom #buildwealth #wealth #retireearly #stimuluspackage

#accurate 🤣🤣🤣 . . Credit: BPfanspage #r

#accurate 🤣🤣🤣
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Credit: BPfanspage

#realestateblog #realestate #passiveincome #investforretirement #housetransformation #beforeandafter #fixerupper
#rehab #houserenovations #forrent #rentalproperties #dontbeaslumlord #bathroomremodel #remodel #budgetremodel #rentready #realestateinvesting #realestateinvestor #outofstateinvesting #brrrr #brrrrstrategy #buyandhold #fixerupper #investor #investment #cashflow #financialfreedom #buildwealth #wealth #retireearly

Well it's a wrap! Here are the after photos of the

Well it's a wrap! Here are the after photos of the most recent out of state #brrrrr property. Check out my highlights "rehab progress" to follow along the journey!

Here are the numbers:
Asking price: $75K (under contract before it went on the MLS)
Purchase price: $65K
Rehab + misc: $28.5K
All in $93.5K cash

Rehab time: 6 weeks
Rent: $1200/month, B class neighborhood

ARV: $120K+ (it's a crazy market, so who knows?!)

Some thoughts:
So not the perrrrfect BRRRR deal, as I'm likely going to leave about $7k in the deal after the Refi; but I'm happy with that!!
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I really tend to beat myself up over the numbers, just because I'm a perfectionist and obsessive with these things; but my very calm and logical husband always reminds me that nothing can be perfect and that we are holding this property for long-term in an appreciating area with great tenants.
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The saving grace to this deal was buying RIGHT. I went over budget over $10K (new stairs, floors and windows) and even going over budget, the numbers still made sense to me as many houses on the market are selling for over $100K as is.
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Time to buy the next one! 🏚🏚🏚
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#realestateblog #realestate #passiveincome #investforretirement #housetransformation #beforeandafter #fixerupper
#rehab #houserenovations #forrent #rentalproperties #dontbeaslumlord #bathroomremodel #remodel #budgetremodel #rentready #realestateinvesting #realestateinvestor #outofstateinvesting #brrrr #brrrrstrategy #buyandhold #fixerupper #investor #investment #cashflow #financialfreedom #buildwealth #wealth #retireearly

My latest BRRRR deal is now leased by two awesome

Can't begin to tell you how many contractors I con

Can't begin to tell you how many contractors I contacted to get this driveway repaved! 3 months later, we finally have a new beautiful driveway, just in time for snow season ⛈⛄️❄️

Called 20 contractors
8 actually showed up
3 gave me outrageous bids
1 told me he didn't want to do it
1 sounded like a big scammer
1 gave me the best price and ghosted on me
1 said he would get it done "today", never heard back from him
1 is still harrassing me and blowing up my phone, even after I said no.
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My contractor found this one, and the price is where I think it should be, especially for a concrete driveway (concrete has a much longer lifetime than asphalt).
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Total cost $4500, ouch. This is part of a #BRRRR deal that I was able to pull all my money out, and I left the driveway to be deferred till later (it wasn't this bad 2 years ago, the weather and tree roots has really beat it up). Well, the time has come - and now we have a beautiful new driveway to last me a lifetime!
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#realestateblog #realestate #passiveincome #investforretirement #housetransformation #beforeandafter #fixerupper
#rehab #houserenovations #forrent #rentalproperties #dontbeaslumlord #bathroomremodel #remodel #budgetremodel #rentready #realestateinvesting #realestateinvestor #outofstateinvesting #brrrr #brrrrstrategy #buyandhold #fixerupper #investor #investment #cashflow #financialfreedom #buildwealth #wealth #retireearly

I was getting a little worried about putting this

I was getting a little worried about putting this recent rehab on the market during the winter time...and with above market rents....but in just less than 2 weeks, we got some applicants! 🙌
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I called my PM last week asking if we should bumped it down to "market" rent but she said. No. Nope. No.
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People are willing to pay more for what they find value. So glad I listened to her!
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Now onto looking at their application and credit report 👀🔍

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