My SECOND New Member Intro...

My SECOND New Member Intro...

St. Louis, MO · Member since 2019 · 10 posts · 11 votes

Posted in here about six years ago when I thought I was getting started in my investing journey. Then life happened, I got distracted, and I sat on my dream for a few more years! Figured it was about time to post here though, now that I've actually headed down the investment path.


I'm from Jefferson County, Missouri, just outside of St. Louis. Through a long journey of health issues, work changes, and just generally having my life shaken up over the last 10 months, I stuck one toe in the water of REI back in February and locked up a wholesale deal in my area. Sold it a couple of weeks later and made a few thousand dollars, but really made a lot of interesting and valuable connections through that process. I completed a cosmetic flip with private money shortly after and did well there, and have decided to pursue my Missouri real estate license now as well. My wife and I refinanced our primary residence (got it out of the 7s) and took out a HELOC on the equity with the intention of making it easier to get into more flips, then found out that most small town banks that I've talked to hate HELOCs and treat them as if they're fully drawn, which has made this process more interesting, to say the least.

All of this brings me to where I am today: a contract on our next (probable) flip with the option to keep as a rental if necessary, a lead on a multifamily that we're pursuing later this week, and expecting repayment on a private money loan we did as soon as today, so we've really started to wade out into this community/world of REI! Would love to connect with anyone else in the area, and looking forward to perusing the forums more often as we do more on our own and learn just how little we know!

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Member since 2023 · 348 posts · 190 votes
1mo

Welcome back, and congratulations on finally taking the leap! It sounds like you've accomplished a lot in a relatively short amount of time, closing a wholesale deal, completing a flip, and now pursuing your real estate license is a great foundation.

The HELOC issue is definitely something many investors run into. If you're planning to do more flips, it may be worth looking into lenders that specialize in investment properties, as they often underwrite deals based more on the property's value and project rather than treating a HELOC the same way a traditional bank does.

Best of luck with your next flip and the multifamily opportunity! Sounds like you're building some great momentum. 

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  • Member since 2023 · 348 posts · 190 votes
    1mo

    Welcome back, and congratulations on finally taking the leap! It sounds like you've accomplished a lot in a relatively short amount of time, closing a wholesale deal, completing a flip, and now pursuing your real estate license is a great foundation.

    The HELOC issue is definitely something many investors run into. If you're planning to do more flips, it may be worth looking into lenders that specialize in investment properties, as they often underwrite deals based more on the property's value and project rather than treating a HELOC the same way a traditional bank does.

    Best of luck with your next flip and the multifamily opportunity! Sounds like you're building some great momentum. 

  • Arman AhmedPro Member
    Real Estate Agent · Columbus Cleveland Dayton, OH · Member since 2024 · 2k+ posts · 946 votes
    1mo
    Quote from @Joshua Pfeffer:

    Posted in here about six years ago when I thought I was getting started in my investing journey. Then life happened, I got distracted, and I sat on my dream for a few more years! Figured it was about time to post here though, now that I've actually headed down the investment path.


    I'm from Jefferson County, Missouri, just outside of St. Louis. Through a long journey of health issues, work changes, and just generally having my life shaken up over the last 10 months, I stuck one toe in the water of REI back in February and locked up a wholesale deal in my area. Sold it a couple of weeks later and made a few thousand dollars, but really made a lot of interesting and valuable connections through that process. I completed a cosmetic flip with private money shortly after and did well there, and have decided to pursue my Missouri real estate license now as well. My wife and I refinanced our primary residence (got it out of the 7s) and took out a HELOC on the equity with the intention of making it easier to get into more flips, then found out that most small town banks that I've talked to hate HELOCs and treat them as if they're fully drawn, which has made this process more interesting, to say the least.

    All of this brings me to where I am today: a contract on our next (probable) flip with the option to keep as a rental if necessary, a lead on a multifamily that we're pursuing later this week, and expecting repayment on a private money loan we did as soon as today, so we've really started to wade out into this community/world of REI! Would love to connect with anyone else in the area, and looking forward to perusing the forums more often as we do more on our own and learn just how little we know!


    Sounds like you’re officially back in the game! Congrats on the wholesale and flip, and it sounds like you’ve got some good momentum going. Since you’re already in the Midwest, you may also want to keep Ohio on your radar for future deals. Cleveland, Columbus, and Dayton can offer some interesting value-add and buy-and-hold opportunities, especially if you build the right local team around you.

  • Lender · Denver, CO · Member since 2021 · 41 posts · 11 votes
    1mo

    @Joshua Pfeffer

    Welcome back! This REI career path is not for the faint of heart but it's the ones who push through and make things happen that are successful and you're doing just that.

    As and investor and lender, I'm always happy to be a sounding board for people in the early stages of this journey. If you want my direct # shoot me a DM and we can jump on a call.
      

  • Jimmy LieuBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2019 · 3k+ posts · 2k+ votes
    1mo
    Quote from @Joshua Pfeffer:

    Posted in here about six years ago when I thought I was getting started in my investing journey. Then life happened, I got distracted, and I sat on my dream for a few more years! Figured it was about time to post here though, now that I've actually headed down the investment path.


    I'm from Jefferson County, Missouri, just outside of St. Louis. Through a long journey of health issues, work changes, and just generally having my life shaken up over the last 10 months, I stuck one toe in the water of REI back in February and locked up a wholesale deal in my area. Sold it a couple of weeks later and made a few thousand dollars, but really made a lot of interesting and valuable connections through that process. I completed a cosmetic flip with private money shortly after and did well there, and have decided to pursue my Missouri real estate license now as well. My wife and I refinanced our primary residence (got it out of the 7s) and took out a HELOC on the equity with the intention of making it easier to get into more flips, then found out that most small town banks that I've talked to hate HELOCs and treat them as if they're fully drawn, which has made this process more interesting, to say the least.

    All of this brings me to where I am today: a contract on our next (probable) flip with the option to keep as a rental if necessary, a lead on a multifamily that we're pursuing later this week, and expecting repayment on a private money loan we did as soon as today, so we've really started to wade out into this community/world of REI! Would love to connect with anyone else in the area, and looking forward to perusing the forums more often as we do more on our own and learn just how little we know!

    Welcome back to BP, Joshua! Sounds like those six years weren’t wasted at all—you came back ready to actually put things into motion. Getting a wholesale deal done, completing a cosmetic flip with private money, lending on a deal, and now having another property under contract gives you exposure to several sides of investing pretty quickly. One thing I’d keep doing is underwriting every flip with a solid backup plan like you’re already doing. Knowing what the property looks like as a rental before you buy can give you some breathing room if the resale market changes or the rehab takes an unexpected turn. I’d also keep building those relationships you made on the wholesale and flip deals because lenders, contractors, wholesalers, agents, and other investors often become more valuable as you scale. Sounds like you’ve got some good momentum going now. Happy to connect and answer any questions you have! 
  • Investor · Wichita, KS · Member since 2024 · 25 posts · 7 votes
    1mo

    Hi Joshua, welcome back to the forums! (from someone who also had a couple year hiatus) And congrats on your success finding your deals and pursuing your real estate agent license. It looks like you're picking up momentum in the investing space. If you have any new builds, renovations, or additions in your future I'd love to discuss. I'm a licensed structural engineer in Missouri, Kansas, and Colorado. I also provide general drafting and design services for clients nationwide. It would also be great to discuss your investment strategies and opportunities you have coming up. Just send a connection invite, would be great to stay in touch.

  • Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    1mo

    Holla

  • Brad SeidBusiness Member
    Lender · Licensed in 28 States · Member since 2026 · 167 posts · 49 votes
    1mo

    @Joshua Pfeffer Sounds like you’ve built some great momentum already! Congrats on the wholesale deal and successful flip. As you take on more flips and multifamily opportunities, financing can definitely become a key piece.

    If you ever need help exploring lending options for your next deal, feel free to reach out. Happy to connect and see what might work for you!

  • Diana KhanPro Member
    Attorney · 10451 Mill Run Cir #755 Owings Mills, MD 21117 · Member since 2024 · 485 posts · 178 votes
    6d
    Quote from @Joshua Pfeffer:

    Posted in here about six years ago when I thought I was getting started in my investing journey. Then life happened, I got distracted, and I sat on my dream for a few more years! Figured it was about time to post here though, now that I've actually headed down the investment path.


    I'm from Jefferson County, Missouri, just outside of St. Louis. Through a long journey of health issues, work changes, and just generally having my life shaken up over the last 10 months, I stuck one toe in the water of REI back in February and locked up a wholesale deal in my area. Sold it a couple of weeks later and made a few thousand dollars, but really made a lot of interesting and valuable connections through that process. I completed a cosmetic flip with private money shortly after and did well there, and have decided to pursue my Missouri real estate license now as well. My wife and I refinanced our primary residence (got it out of the 7s) and took out a HELOC on the equity with the intention of making it easier to get into more flips, then found out that most small town banks that I've talked to hate HELOCs and treat them as if they're fully drawn, which has made this process more interesting, to say the least.

    All of this brings me to where I am today: a contract on our next (probable) flip with the option to keep as a rental if necessary, a lead on a multifamily that we're pursuing later this week, and expecting repayment on a private money loan we did as soon as today, so we've really started to wade out into this community/world of REI! Would love to connect with anyone else in the area, and looking forward to perusing the forums more often as we do more on our own and learn just how little we know!

    @Joshua Pfeffer, it sounds like you’ve reached an interesting point because you’re starting to experience real estate from several different sides. You’ve wholesaled, flipped, made a private money loan, you may become a landlord, and now you’re working toward your real estate license. As you keep growing, I’d be intentional about knowing which hat you’re wearing in each deal and keeping those roles clear.

    I can relate because I’m an attorney, broker, and investor myself. I’ve also worked with investors and business owners whose roles started overlapping as they became involved in more deals. That’s when the agreements, ownership, responsibilities, and documentation become especially important because what makes sense in one role may look different in another.

    I enjoyed reading your story, @Joshua Pfeffer, especially because you came back after several years and actually started putting things into motion. The different sides of real estate you’re exploring overlap quite a bit with my own work. Happy to stay connected and see where you take it from here.

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