Looking to learn as much as possible and hopefully enter the market (house hack/flip) by EOY. but finding cash flowing properties in my area is proving to be a struggle.
Looking to get my foot in the door however possible.
@Cassidy Burns I'm looking to find a partner to do my first flip with. I'd love to accomplish more than one by the end of the year, but just super anxious to get going on my first one.
Plan to sell my primary residence that I've occasionally house hacked and purchase a small multi-family to keep growing. Secondly, to keep growing, learning, and building my business as a realtor.
@Nicki Sheltonthat’s pretty much where my wife and are, but we’re getting a really late start. I can’t just sit and do nothing. Good luck to you!!
Thanks @Stan Coley we are kinda getting a late start as well. Better late than never! We are the same can't sit and do nothing. Our kids are still young. Good luck to y'all as well!
Best of luck to you! Melissa is a beautiful city. We are about an 1 or so from there. We go there all the time. My husband and I are just getting started. A little scared to take the first step. I think I'm just over thinking things in my head.
@Cassidy Burns, how doI get started. I LOVE Real Estate, and I desire to flip house, and buy and hold. I'm particularly interested in obtaining 6 to 8 unit commercial buildings. But I don't have capital. How should I begin that I can began.
10 doors total by age 40. Turning 40 in June. Under contract for a triplex right now which will bring me to 10 doors. Wooohooo! But looking to 1031 a paid off property in Colorado while the market is crazy and buy two more fourplexs with the proceeds. Mortgage on one, pay off the other. All before June to keep the 10 goal...fingers crossed.
Finish our 2nd flip, sell for a profit. Transition our business strategy from fix & flip due to extreme lack of inventory over to mortgage note investing. Purchase 2 performing notes and 4 non-performing notes in 2021, get the 4 NPN's in the process of loan modification. Research starting a investor fund to gain more capital to scale.
Great numbers, are these deals syndicated. How did you get started raising money? Through someone’s program or did you build an investor network on your own?
Thanks Elmer! We’ve been putting in a lot of work this year.
Yes, the deals are syndicated. I initially started off alone and ended up with two partners to facilitate faster growth. We developed our own network of investors starting with friends and family and then through word of mouth. I appreciate the interest.
Goal #2 - Decide if we should refinance and take cash out of our rental and reinvest again in this crazy high market or hold and wait for market to come to me. We only have 10 years left to pay it off. It cash flows right now.