All Forum Posts by: Colton Boyer

Hello everyone,

I am a rookie to REI so bear with me.

I have been working as a general remodeler for the past 5 years now. Over the past 2 years I've been working directly with RE Investors doing house flips. In October of 2022 my wife and I purchased a home for $125K with the intention of doing a live-in flip at a 5.25% rate. I have hit a snag in figuring out a creative and smart way to finance our flip with the proper exit strategy.

It was purchased as a 3 bedroom 1 bathroom house and can easily be converted to a 4 bedroom 2 bathroom home. We are looking to rehab the home and then refinance in a way for us to stay in the home a little while longer before eventually selling 5+ years down the road. Comps in the area would be from $210K-$230K conservatively. Rehab costs are in the range of $50K-$70K

I would like to perform a vast majority of the work myself and am looking for a way to achieve this goal all while paying myself to perform the work. Is obtaining a construction loan to perform the work, having an appraisal, then doing a cash-out refinance to pay the construction loan a viable method?

Thoughts and ideas are greatly appreciated.

Thanks,

Colton

I appreciate all your insights. For some clarification, I don’t believe this single Super Bowl will impact the Kansas City economy tremendously. It’s more so a belief that with the bright future of young superstar talent, it’ll bring more consumers to the Kansas City area. Which would give a boost to the economy over the next 10 years. Kansas City is known for it’s loyalty to their sports teams. Since I currently reside in KC, I’ve witnessed firsthand the amount of travelers to our “little big city”. This isn’t only about sports though. The nation’s population is only increasing and the coasts are heavily populated. There’s only one way that I see the overall population of Kansas City going and that is up. More so than coastal cities because of the lower population.

@Lee Ripma thanks for your snarky reply. I was referring to other avenues of investment which is why I posted this question in the “other” category.

Hello everyone,

I live in Kansas City, MO. I am a big sports fan and am excited about the Kansas City Chiefs recent Super Bowl win. I am also a fan of finance, economics and investing. Kansas City is known for their die hard fans. The Chiefs have an extremely bright future with their current football team. I think that the football teams success will give a substantial boost to the Kansas City economy. So my question is, what are some ways that I can invest in the Kansas City economy? Is this possible? ETF's on the NYSE? etc.

Thanks in advance,

Colton