All Forum Posts by: Bradley LaBrie

@Chris Collins Hi Chris! I am also here in The Flint, Michigan area. We should connect on a call or something soon and chat about what your next move is!

@David Bowles that’s awesome we’re in the same market! I sent you a message about meeting up soon!

Hello, @Theron Mcfield ! I’m a little bit of everything you listed in the Flint area. I work as a realtor for RE/MAX edge, I own several rental units and I also flip. We should meet up or chat on the phone sometime!

@Justin A. well you’re definitely right the 203k can be administrative hell. The conventional loan has a similar one being the Homestyle renovation loan. Both have a lot of paperwork and steps, but in my opinion they’re worth it because the bank holds your hand through the process and ensures the project gets done right.

If you google “203k endorsement report” it will literally give you a list of the lenders that do the most of them in your market. If you actually find a lender that knows what they’re doing you’ll have a great time and it won’t be a huge headache 👍
 

@May Ang there are investors on here and in general that live in expensive markets buying 3% rule properties here in Flint, MI. A great market for that. Good property management in place too

Quite a few California investors are finding 3% rule properties in Flint, MI with the aforementioned list being good as well

@Jonathan Greene I can attest to over spending on my first flip! Good advice

As someone who started out flipping and transitioned to House Hacking, I would definitely agree with the people above. Don't get me wrong I made good money flipping but the risk is high and the learning curve is steep. Do a BRRRR house hack combo if you're wanting to do a renovation. I used the 203k loan to rehab a large project, house hack at the same time, and pulled out equity like I flipped it. Now it provides $2k a month in Cashflow 👍 and I continue doing that.

It really depends on what you’re looking to do! What direction are you wanting to head in? People will give many suggestions based on THEIR personal goals lol

Trust your intuition. You already seem to believe in yourself and your logic is sound. I just helped a client do this same thing and it worked out well!