All Forum Posts by: Brent T Galbreath

@Matthew Linton include me in that too Matthew! Thnx

@Dan Gamache I'm looking to get a conventional loan with 20% down and then BRRRR the property. I'm wanting to build a relationship with a loan officer who understands investment properties and this strategy but I'm trying to find out how to ask questions to determine which loan officers really understand the strategy and will work on my behalf.

@Mindy Jensen thank you Mindy. Was the self-promotion that I said I would be buying in the Lakeland area? Just wondering so I don’t violate the rules next time.

It looks like I will potentially be purchasing an investment property in Lakeland, Florida sometime in the near future. Can anyone give me advice on good questions to ask a loan company/bank/credit union to determine if they would be a good fit to build a long-term relationship with? Any particulars I should be looking for? Any deal breakers?

@Aaron K. Thanks Aaron. I should’ve said I would be all in between 88-90k and sell for approx 120k. How much would you HAVE to make as a rule on a flip?

I’m potentially about to enter into my first flip. Could anyone give me insight into how much capital gains tax I should withhold? I should be buying it at 88k and selling it for around 120k. I would really appreciate anyone’s insights

@Michael Lopez I’m close to where you are. I’m 52 and began studying and listening to everything I can now for well over a year. I bought a house to rent but after fixing it decided to move in it and sell my original home for cash to begin to buy a few investment properties myself. I wish someone had told me about this when I was in my 20s and 30s but I’m just now learning about it. I need to take action. It’s tough the older you get because you don’t have as much time to make up for mistakes. The only advice I would have is no deal is better than a bad deal, especially at our age. Would love to connect with you to see how are you faring this and hopefully we can learn from each other. I’m rooting for you man!

@Gavin Welch thank you! Will do!

I’ve been trying to find a real estate agent in the Lakeland Florida area and the ones I’m speaking to, I can tell do not understand the brrr strategy and what I’m trying to accomplish. Does anyone know a knowledgeable real estate agent in that area or could give me some advice on questions I should ask agents to find out if they are proficient in understanding real estate investing?

@Ned Carey thank you for that. I didn't realize it would be more difficult after I move. But in the BRRRR strategy, aren't they refinancing after they rent it out which would of course mean they're not living in it?