All Forum Posts by: Drew Cameron

This past week I went to a local meetup for real estate investors in Scottsdale and met a man who just bought a duplex. He was living on one side and renting the other which brought his mortgage down to $50 out of pocket. I am currently a renter and looking for a house to buy. House hacking was on my radar before, but after hearing this story it's once again at the forefront. I've been running the numbers on some duplexes all over the valley from Mesa to Glendale. It seems like they all will cash flow nicely if they are rented on both sides or can provide free or nearly free housing if I live in one side. Is it really that simple as finding a duplex off the mls or Craigslist? Am I missing something?

@Mike D'Arrigo oh I see what your saying. Typically he sells them to people for their homes. He is really good at marketing properties himself, but if it doesn't sell quick he has agents that will list it for 1%. The market here most houses priced appropriately are selling the same day. Most houses don't last a week. I don't think he would be against selling to another investor if they match the price.

@Mike D'Arrigo I'm not sure I understand the difference. If you mean going through a realtor and buying off the mls then we are not doing a retail flip. If I find a wholesale deal we will use that or if I can't we will use one of his wholesale properties where the numbers make sense to flip instead of just assigning or selling. My investor partner is a well known wholesaler and flipper who always has something in the pipeline. I just hope to someday be on the same level as him. For now, I guess I'll have to settle for learning and earning with him.

I have been reading everything I can and researching every option as I get ready to dive into my first flip this summer. I came across a REI club webinar that was all about government grants and scholarships. I haven't thought about these terms since I was in college. According to this webinar there is millions of dollars available for real estate on all different levels including personal, business startup, and commercial use. Most people don't know about these programs so there is money every year that goes unused simply because it wasn't applied for. I'm curious if anyone has heard of or used these government programs for personal use or for their business. I have to say I am a bit skeptical because they tried to sell you on a guru who can allegedly get you thousands of dollars for your real estate goals.

@Chris Erwin thanks for the advice. St. Louis wasn't even on my radar. I have heard some people toss around Ohio before, but haven't Alabama as a possibility either.

@Bryan Miles the plan will definitely be to buy more than one. I'd like to buy as many as I can without putting myself in a bind as far as cash reserves. I figure with the good returns in that area it will just help to grow quicker the more I can get. I wouldn't mind North Carolina as long as it's close enough to get a beach day in when I check out the property.

I'm new to real estate and have been reading everything I can get my hands on. BP has been invaluable in this regard between the blog, posts, and podcasts I have learned a ton. The one thing that everybody says is to just take action. So I have. I have got involved with a couple different REI groups here in Arizona. The market here in Arizona seems to be pretty good right now but I'm wondering how long it will last. It seems like a few things keep coming up over and over again. Midwest turnkeys specifically Kansas City and Indianapolis keep being mentioned for a great cash flowing area. California seems to be a great place for flips, especially SoCal. I'm just curious what others are doing out there and what strategies work best where. I'm planning on my first flip this summer with another investor and would like to get into buy and holds eventually for the stability. Ideally I'd like to buy a rental for every second or third flip using either turnkeys or the BRRR method. I'd like to hear what strategies other investors are employing and in what markets.

@Sonya Hansell no I have not, but I will reach out.

@Jason Hawk thank you Jason we will talk soon.

@Ali Boone who is your provider? I'd love to hear more.

@Matt R. thanks for the info. I e definitely got some homework to do.

I'm starting to look into turnkey rentals. I have seen lots of good cash flowing turnkeys brought up here in the Midwest. Does anyone have any experience with Kansas City or Indianapolis turnkeys?

I went to a meeting with them and they seemed to be the real deal. They were all local and had done deals in my town with pictures and the numbers. All the people were very approachable, inviting and helpful. Ultimately I didn't have the money for the membership so I opted not to join their group, but I think they are definitely worth a look.

The mentorship has multiple levels and they all cost different amounts with the lowest one being $1000. For $1000 you get classroom and field training, bandit signs, door hangers, and some startup business cards. Also access to the facility and the software net value central to find ARV, tax records, and comps. It is a school at heart, with a mentor who won't let you fail because they joint venture on all your deals. Each level of membership has a % attached to it and for every 3 deals you move up to the next level of membership with new training and classroom materials.