Help!! what is keeping me from NOT doing this. :((((
I feel like I am not where I want to be. 2017 went by and I have zero properties. :( I really like the strategy for BRRRR. I want to have 25 homes in the next 3 years that ranges between 120-180k. I almost have all the resources and tools. The tools and resources I have.
- Cash in the bank (150K)
- Credit score over 800
- Great yearly W2 income (over 6 figures)
- Know a Protfolio local banker that is welling to finance 8 million to me. The bank said they will refinance 70% ARV every deal I bring him (upto 8 million). He also said once I have more assets he will give me 500k in line of credit. The bank already financed 1 mil to me (another business).
- Pre - approved unto 500k in loan with zero dollar down that could be used for primary housing or duplex or quads.
Things I don't have
- rehab experience
- Much time
Please help me get going. I am tired of the rat race. Help me get my first deal. Please give me actionable ideas.