Looking for a Mentor in Diamondhead, MS
Hi BP members, my name is Brad Rutledge. I am new to Bigger Pockets and am looking for a mentor to provide some guidance on my investment plan. Questions, SF or MF and my financing approach.
Key facts of my financial situation. No debt except Primary Mortgage, HELOC - 100k available, 40k cash, 700+ Credit Score.
My plan is to flip 4-6 properties per year for profit of 20k minimum. Also would like to buy/rehab/hold 4 rentals per year with ARV of between 60k - 90k at 70% MPP including all costs.
My plan is to set up LLC to hold title and pay for the property in cash using the HELOC, then to put a Commercial Loan on the property to coverage purchase price and repairs.
Thoughts...