All Forum Posts by: Brian Ellwood

You need to go into cheaper, more linear markets to find cashflow properties now, there's no point in trying to fight for deals in appreciating competitive markets.

5 Votes

Originally posted by @Corey M.:

Originally posted by @Brian Ellwood:

Hey Corey - the first step would be to consider if you have the time/want to put the time towards doing BRRRR. Then from there you can worry about market and team building. Focus everything on deciding between BRRR and turnkey for now.

If I did BRRR, my goal would be to put a great team in place so that the majority of my efforts would be on the front end (evaluating the deal, negotiating deal, etc). I definitely cannot be dealing with the day to day of overseeing a contractor. And I wouldn't know how to find a good deal in an OOS area since many cities vary in quality from neighborhood to neighborhood.

My goal would be to pay cash for my first property and be all-in for $100k, then refi. I want to start in that under $100k market just to learn before I start spending more.

It may even make sense to partner with someone, but I am hesitant to give money to random people. That always feels risky.

That skill can definitely be learned. I live in CO and buy in TN and AL and my involvement is limited to making buying decisions and overseeing an assistant and a project manager (only during a rehab). It's a 2 hour a week tops kind of job.

If you learn that skill/set that up, you end up with nice chunks of equity, more cashflow, and a lot less of your own cash in each deal.

If you don't, it's less work, but you end up with little equity and cashflow, and acquisitions are a lot more cash intensive.

0 Votes

Originally posted by @Terry Harris:

@Brian Ellwood

Wow great insight! How do you go about finding off market deals? Do they come to you? Or are you doing more of the research and findings on these?

I market directly to them using direct mail

0 Votes

Are you doing this with the ultimate goal of doing buy and hold? If so I'd recommend not getting too sidetracked with things like flips and asking how you can get straight toward the passive income goal.

1 Vote

Kind of depends, would you rather have more monthly cashflow but wait 30 years to have it paid off, or less monthly cashflow but have it paid off in 15? ALso would it still cashflow in the 15 yr loan?

1 Vote

Yeah, that wouldn't cashflow like you observed. The short answer is that these people don't know what they're doing, or they're buying with cash just to have a more predictable asset versus holding stocks or something like that.

I've done hundreds of deals and never bought a listed property before. Don't worry too much about what's going on with listed properties, the real savvy investors are often operating off-market, unless they're in a really cheap market where rent/price ratios are inherently better.

Is Tucson a good market, numbers wise?

36 Votes

I'd post that in a DFW RE investors FB group and see what banks are most investor friendly

0 Votes

Dallas, Texas

Try marshall reddick they're great

1 Vote

Originally posted by @Kristopher Kyzar:

@Brian Ellwood everything is coming from facebook ads right now. Averaging about 20 leads per month.

Sick - how could I learn to do that?

0 Votes

Norfolk, Virginia

All Forum Posts by: Brian Ellwood

Brian Ellwood has started 15 posts and replied 187 times.

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