Partnering spouse of Trichinvestments

Member since 2020 · 3 posts · 0 votes

Looking to use hard money loans to purchase properties, using the fix and flip method for the 1st few properties to build cash reserves. One goal is to have several padsplit properties. The long term goal is to buy and hold using the BRRR method. My son is one of my mentors . He owns 16 buy and hold properties and a cash generating commerical property. My home base area is Atlanta Ga. Im an IBEW electrician I'm working between Atlanta and in DC annually. Im also EVITP certified to install electric vehicle charging stations level 1 & 2

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Michael Dumler
Real Estate Agent · Atlanta, GA · Member since 2020 · 1k+ posts · 1k+ votes
8mo
@Freddie Richardson, here's a thought for you and something my team and I (who are active in the co-living space) have been taking note of: flipping properties into PadSplits for end-buyer investors/operators. There's real demand for this product here in Atlanta, and it might be worth getting ahead of the curve before more flippers catch on and the competition ramps up. Of course, it all depends on the deal specifics, but there's typically more meat on the bone and potentially higher returns when implementing this flip model. Happy to show a recent example if helpful.

And just to echo what's probably been said before, if you're planning to use hard money, make sure you fully understand the debt structure and all associated closing costs. I've seen investors get burned by deals that looked solid on paper but fell apart because they didn't fully grasp the loan terms.
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Stephen QuesinberryBusiness Member
Real Estate Agent · Cumming, GA · Member since 2016 · 226 posts · 157 votes
8mo
Freddie,
Congrats on getting started.
Right now you’ve laid out a few strategies that can all work, but they each come with different requirements and learning curves. Unless you really need the short-term cash, it may be worth at least considering starting with the strategy you ultimately want to run long term. When you shift strategies multiple times, you’re not starting completely from scratch each time, but it can feel close — especially operationally.

I’d suggest defining a few simple filters to start. Pick one or two submarkets you know or can get to easily. Decide on a rough price range, property type, bedroom count, and renovation scope you’re comfortable with. From there, start looking at a lot of deals, even if you’re not ready to pull the trigger yet. The repetition is what sharpens your instincts.

Once you have a tight buy box, hard money and private lenders become easier to line up, contractors are easier to estimate, and underwriting becomes much more consistent. You can always expand into PadSplit or BRRR once you've built some momentum and reserves.
Hope this helps!
Cornerstone Real Estate Partners
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