How I went from 0 - 20 properties w/out investors or my own money

66 Replies

@Brian M Sweeney thank you for sharing. I have 2 questions I would love to ask you. One, if you were brand new in real estate investing and had 50k how would you use it. And second, the same question as before but instead of 50 now you have 200k. I may have found myself in a similar situation.
@Sesch Booker Honestly there are so many variables that make up a decision to invest in real estate. But for all intensive purposes of this thread..if I had 50k I would start with a single family, duplex or fourplex depending on how expensive your market is. I would buy a value add property that way u have the equity built in. If I had the 200k I would participate in a syndicate deal. Try to get 5-15% equity of a much larger deal. You will be completely hands off and let the experts take the lead. You could potentially earn a nice return on ur money while the project is being completed and potentially even larger return when the property is sold.

Hello @Brian M Sweeney I have been taking my rental properties in my name so that I could use Conventional Financing. Could you advise how were you able to do a cash out refi in your business name?
 

I am newbie that is why I am reading many posts, articles etc.

I am learning a lot. It is amazing and very inspiring to learn your strategies. RE investors in BP are very helpful. All of the authors of the posts, articles, books esp. Brandon Turner are very kind to help and teach someone especially like me.

Kudos for all. You are all awesome 👏 

Florentina 

Originally posted by @Account Closed :
Originally posted by @Brian M Sweeney:
@Merritt Steinbach I can assure you I’m not over leveraging, in my opinion. It’s currently at about 50% debt to equity, so there’s a substantial cushion. The profit margin is currently around 60% although it’s gone down over the past few months as some renovations took place. The goal is buy and hold, appreciation and cash flow. If I can get 10 years worth of cash flow from a property, I sell it. Other than that once the market slows we will probably move into residential/commercial development.

That's awesome. Thanks for sharing. Those are numbers I would be comfortable with. I am currently at 0% leverage and making between 18%-29% pre-capital expenses/perfect year scenarios. I feel really good with my numbers, but want to make the most out of the money I do have, so I'm starting to explore leverage. Great to hear stories of people making it work.

don't be in a big hurry in Milwaukee if your dealing with lower end C D just pay cash and laugh all the way to the bank. 

@Brian M Sweeney any key bullet points to seek out or look for in the “building a relationship with a local credit union” part you mentioned Brian. Not discounting what you did because it’s really amazing but I feel that besides coming across off market deals and auctions securing the financing and knowing you have the means to purchase these properties (less your own cash on hand) was the most important part ? Can you elaborate for me how to approach a local credit union and what you did to build the relationship and trust factor to make getting loans a successful venture. Thanks brian.