All Forum Posts by: Arthur Roberson

Quote from @Vadim F.:

Quote from @Arthur Roberson:

Working on building my team in Cleveland - Specifically, Small Multi Unit BRRRR's. My partner and I want to start by acquiring at least Two - 4 Plex properties to BRRRR, then re-invest into more small multi units, and so on.

I am based in Atlanta, and would love to have some contacts who know the market well. My partner and I will be working with at least 150K Cash to start, and if the area serves us well, we will continue acquiring more properties. 

Feel Free to shoot me a PM! Looking forward to getting to know many of you!

Thanks, 

You want be all in 150k on a quad? That is going to be really tough. 

 Nope, thats what I will have to put down on hard money. 

Quote from @James Wise:

Quote from @Arthur Roberson:

Working on building my team in Cleveland - Specifically, Small Multi Unit BRRRR's. My partner and I want to start by acquiring at least Two - 4 Plex properties to BRRRR, then re-invest into more small multi units, and so on.

I am based in Atlanta, and would love to have some contacts who know the market well. My partner and I will be working with at least 150K Cash to start, and if the area serves us well, we will continue acquiring more properties. 

Feel Free to shoot me a PM! Looking forward to getting to know many of you!

Thanks, 

 Welcome to Cleveland. While looking at properties in the area I suggest you give The Ultimate Guide to Grading Cleveland Neighborhoods. The location of your properties is probably even more important than the team you have working on them here in Cleveland.

 James, I actually saw your post a few weeks back. I genuinely appreciate the time you put into this! it was very helpful in me narrowing down my choices   

Working on building my team in Cleveland - Specifically, Small Multi Unit BRRRR's. My partner and I want to start by acquiring at least Two - 4 Plex properties to BRRRR, then re-invest into more small multi units, and so on.

I am based in Atlanta, and would love to have some contacts who know the market well. My partner and I will be working with at least 150K Cash to start, and if the area serves us well, we will continue acquiring more properties. 

Feel Free to shoot me a PM! Looking forward to getting to know many of you!

Thanks, 

Quote from @Zachary Ware:

Great post! This is great motivation for the investor who has been stuck looking at listings and analyzing deals.

 Haha! Thanks for the reach comments, Zachary!

Quote from @Luis Puello:

Arthor Thank you for this post. Truly motivational! I am on that edge working for corporate amaerica. trying to get my feet wet in flipping and understanding how to make my first dollar with real estate investing. 

You will be fine and if you need anything let me know as I am located in Lawrence MA

Luis, thanks for the comment. Small world, I was born and raised less than an hour from you in the city! My sister lives till this day in the Lawrence/Methuen area! 

Same to you if you ever need anything in the south here in GA, let me know!  

Hey everyone, Last week my wife and I were on vacation on the beach, paying someone 3600 bucks to rent their home for the week and I said to her, "Why don't we own one of these?" He response was, "Because we cant afford it." For some reason, with the amount of hours we both work in cooperate America and what we sacrifice for our family; that response really ticked me off. We started looking into our finances, we realized we possess a skill set to renovate and design homes ( We turned 16k down, into $200+ in equity in two of our personal homes between December 2021 and present day)  so why are we working for ourselves? 

Fast forward 7 days later, we have analyzed probably 200 listings, pretty much have ingested years of modern investing knowledge through Bigger Pockets YT. Both of our parents have done well in real estate, but their strategies are a bit outdated; so this community as a whole has been so helpful to us. 

Today at 3pm EST, we submitted a seller finance offer where we have an opportunity to earn a good passive income from already leased homes, and as tenants move out, we come in to do what we do best, and that is making homes look great.  From previous experience I know this wont be wrapped up anytime soon.... But I at least wanted to come on here and be an encouragement to someone out there who is on the edge. The encouragement I want to give is, have a great TEAM around you ( we are blessed to have an amazing realtor who my wife considered a second mother growing up. (who also has partners she has trusted and worked with for 30+ years also). Also, just spend the money and become a pro user!!! I spent dang near my whole vacation making excel models, HOURS!!! This morning I woke up at 5am and said, just buy the pro membership - you are an investor and you need the best tools if you want to do this right! My wife's response today when I showed her the PDF tool was priceless. I also noticed that she instantly trusted my intel a lot more, because i was not constantly saying let me fix this or double check this or fix this formatting with my OCD.....lol

The last thing I would say is, don't repeat what I did and jump right in from nothing, to 7 days later you are waiting on your LLC approval, and waiting on an update from an offer you just put in for 6 Homes together ( I pretty much have not slept in the past week due to this new world)
 But I promise, if you have a good team around you, and you have done your research, and more and more, you will know when you have the right deal to start - so go ahead and submit your offer! 

Thanks everyone, looking forward to updating you all on my success story here any day! 

Arthur 

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $325,000
Cash invested: $16,000
Sale price: $535,000

Built home through home builder, put our money into structure. I did about 16K of my own upgrades, and paid about 10k for upgrades out of my scope

How did you finance this deal?

Bank Financing

How did you add value to the deal?

We built this home, but only put money into things we could not upgrade later. We personally elevated most $$ areas in home.

What was the outcome?

Lots of equity to roll into next home

Hey everyone, as title states I found a good potential deal to hit to take my next step towards financial freedom. I am currently on my 3rd home at what now feels like a century worth of living - 34 years old. 200K in cash came from me personally upgrading these homes and selling for a profit. Everyone I looked up to growing up invested in real state, including my father who retired at 54 after not making it past the 9th grade, 

I have found an Investor who is selling some of their single fam, occupied, LTR's in order to have cash for a large investment. The seller is open to working a deal if multiple properties are acquired. Properties are listed at the 65K-150K price range, and they have not been updated in a while. 

My strategy is, to work out a deal where I can get the max amount of homes at a deal, cash out at appraised amount, pay myself back, and get a min of $200 cash flow per unit, And depending on where rent/month is that cash flow could be up to 500/unit . If a tenant decides to not re-sign, I will do what I do best and flip it myself, and rent it at going rate for updated rentals. (Currently as is, rent is 1K/month, updated, same house is going for $1600/month)  or sell under details to follow. 

My question is, with the selection of SFU's being occupied and me not worrying about vacancies day 1 - what is best financing strategy for me to secure the most homes as I can from this investor. My current thought is to pay cash 4/time at the worked out deal $, finance the 4 under a blanket loan type structure, keep 20%-25% down on the home and repeat with same investor. I'm eager for this because my extreme analysis and vetting of the market shows that even if i purchase at current list of 75K, Me putting as much as 5K in would bring value to where comps are selling at 120k-140k 

Any thoughts would be greatly appreciated. I am open to any funding ideas anyone has to share! 

Thanks in advance for all of the amazing support