All Forum Posts by: Anthony Vargas

@Anthony Vargas

To clarify, my question is: Will purchasing a home in 2020 make REI difficult in the same year as well from a lending perspective?

Hello BiggerPockets! I've made some previous posts about getting started with real estate investing using the BRRRR method in the Twin Cities area in 2020. While that's great, I'm wondering if I could get some advice, as I will also be purchasing my own home (75% chance it won't be a house hack for personal reasons).

Assuming I follow through with my purchase, will this negatively affect my standing with lenders when trying to finance investment properties?

*I’ll be sure

@Jordan Moorhead Thanks for the referral! I’ll be to connect with him.

@Tim Swierczek After reading like 100s of similar posts, that was the #1 critique that people made. Otherwise it just sounds like you’re whining and expecting mentorship/partnership without providing something in return! Also, it’s only to my benefit that people know what value I can provide!

Hello BiggerPockets!

I am looking to find either an experienced Mentor (preferable) or a partner (second priority) to delve into the BRRRR strategy in my local market. Given my current capital position, I believe this is the best way for me to enter the real estate world. I've done considerable research on the topic and am hoping to either (1) shadow my mentor on BRRRR deals that they are doing or analyze ones they have done, or (2) partner up 50/50 to complete a deal together. This could be as simple as meeting up for coffee occasionally to discuss deals.

*What I Bring to the Table*

- Analytics: My current W-2 as an actuary has allowed me to become fairly decent at putting models together and analyzing the financials of potential deals in a short about of time.

-Dedication: I am passionate about transitioning out of my W-2 within the next 10-15 years (personal goal) and achieving my own form of financial freedom. I've always had a entrepreneurial mindset from an early age, and I truly believe REI will be part of the equation of building my wealth.

-Curiosity/ Willingness To Learn: Ever since I could formally open my own wealth management account, I have had a passions for investing and learning as much as I could about the topic. That passion will certainly be with me as I continue down the REI path. I am constantly looking for opportunities to further my real estate education.

- Some Capital: My current W-2 thankfully allows me to save at the rate of $2300/month, so depending on the deal, I may be able to contribute some from that standpoint to have skin in the game.

If anyone finds these qualities valuable and would be willing to discuss a mentorship/partnership, please send me a PM! Looking forward to it.

Interesting. Can you provide more context on the logic of that? What is the advantage of putting the financing in my fiance's name? Is this in reference to the number of properties a bank would be willing to finance for me long term? 

@Jon Crosby Thanks for the response Jon! That definitely makes sense, and I am making sure to factor in a good amount of margin of error if things do take longer than expected. My capital position shouldn’t be a problem. I’m glad to hear that people still can find success even if they aren’t a handyman!!

Hello Bigger Pockets! I've been considering using the BRRRR strategy to get started in real estate, but I am the FARTHEST thing from a handyman.

Can anyone give examples or attest to whether it is still possible to make a decent profit at the end of a BRRRR cycle but contract out most of the repairs? Of course it will be more expensive, but I am trying to get a general gauge of how MUCH more expensive.

Hmmm...well I will at least look into it and see what I can find! Thanks for the suggestion.