Getting my team together/ What I have done & what do I do now?

14 Replies

What I have done...

I recently joined BP and shortly after began taking action. At this point, I have found a broker that understands investment,(thanks to BP!), I have brought on board a good friend that was head of maintenace for the largest property management company here for many years until he retired. He has done several flips and knows about every aspect of rehabbing a property, residential and commercial. He will serve as a consultant on an as needed basis. I have a secured a private money lender as of last night (still have to work out the details) and I am now looking at potential properties. I also have 100% equity in a home that should value at about 120k retail. I already know plenty of contractors and can do most any part of a rehab besides major electric and plumbing.

What I should do now...

I am asking you guys that question. 

Any advice and pointers would be greatly appreciated.

Thanks

Mike

Originally posted by @Michael Whitener :

What I should do now...


 Now is when you do the hard part -- go find deals!

buy some dirt cheap houses, fix them up, rent them. 

Thanks for the replies.

That was what I expected to hear, Just like doing my due diligence.

Really appreciate the advice!

Thanks

Mike

@ J scott

I am reading your book now. Wanted to tell you that I LOVE this quote!

"The other is a full-time project manager, who is responsi-

ble for finding, hiring, and managing the contractors, and ensuring that the projects

stay on-schedule and on-budget."

I had an asphalt/concrete biz for 12 years. This is the key. Once I had a GM I snowballed until a divorce killed the business.

Wow that's great news and FAST!  I'm searching for a Broker in MA to work with, working the financing now (pretty much all set) and have some cash as well.  Also currently working on my RE License to hopefully give me an advantage to being able to work my own deals and also work with a broker on their deals so I can learn Mr. Miagi style lol.  Look forward to hearing how your first deal goes!  I'm right behind ya!!!!  My kid is in Tyler, TX area now and I keep telling him to look for a multi-family to buy so his tenants could pay for his house and he could live for free!  Wish I started at his age......hind sight is 20/20...

Johnny

Now you get to do what the rest of us are trying to do - find a deal :)

@ johnny

Got a son in college at Austin tx. Gonna talk to him about doing the same when his RA deal is done. Hope all goes well for you in getting your broker license. I will let ya'll know what happens.

@Travis

Got 2 possilble deals I am looking at. Good market here, but much competition. My investor friend was floored and unhappy that I found a private lender so fast. Networking works.

Originally posted by @Brian Gibbons :

Network saves legwork.

Brian,

Did you make that up?

You should coin that... Lol.

Big Henry

Originally posted by @Michael Whitener :

What I should do now...

I am asking you guys that question. 

Any advice and pointers would be greatly appreciated.

Thanks

Mike


Michael,

You have a great base... Just like wrestling is to MMA, it is a great foundation to bleed into other aspects of fighting. Or in this case, real estate.

You seem to have experience in the middle game, but will need to tighten up your beginning and end game.

Keep learning and plugging away. We here for you.

Big Henry

Thanks for the repy Henry! 

Trying to find my first deal right now. My investor friend has turned me on to a good one since he doesn't do flips any longer. Just need to find the cash now.

I would start at your Reia 

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