All Forum Posts by: Grant Rothenburger

Hi @Ken Konecny. I help organize an event here in Cincinnati that was put together by my (now) boss. We use BP, eventbrite, meetup.com, as well as having a website for the meetup. We usually have a presenter in the beginning (10-15 minutes) then each person gets a couple minutes to discuss where they are as investors, what their goals were since the last meeting, if they accomplished those goals, and any asks that they have for the group. This is definitely a little different from a typical RE meetup, but our attendees seem to like the accountability that comes along with making a commitment in front of others. Hope this helps!

@Jacob L White Finance for sure! You seem to have the right idea in getting the degree and working for a developer while in school. If the goal is to own a development company then why worry about buying a rental right now?

Hi @Cordell Hughes! I was in your position a couple years ago. Networking and self education were key for me. Networking here through biggerpockets, I met my friend @Garth Kukla who mentored me on wholesaling. He also did a podcast on how he was able to be successful from the start. I found his podcast very informative, maybe you will too. I'm not telling you to go be a wholesaler, but wholesaling is a fantastic way to learn your market and about real estate in general. Especially if you can bring value to a good wholesaler and learn from them.

@Amy Velasquez I am connected with a few fantastic Cincinnati realtors & investors. @Slocomb Reed & @Eric Kottner are both agents & investors who work with investors. They're definitely a great Cincinnati source!

@Logan Hill Welcome to the wild world of real estate investing! You say that you are connected with a polished real estate investor. Is he a wholesaler? If so, then you really don't need to know what a good deal is, you only need to know what to look for when bird dogging/ driving for dollars. Once you give him the address of properties you identified as possible deals, he (or his team) should track down the owner and figure out if it is a deal or not, at that time you could ask if he would share the numbers with you so you can learn the market and be of better use to him. Maybe even ask to go to see the house with him.

As far as finding your live-in flip, I would suggest partnering with a good realtor who works with investors. BUT be qualified to buy and be serious about wanting to buy. A good realtor will not spend their time with someone who isn't serious, if they find you a perfect house and spend time showing it to you and talking/educating you about what it needs, the ARV etc. only for you to walk away, good luck working with them again.

I did a SFR live-in flip. My advice would be to do a MF live-in flip. That way you can work in a unit and live in another and get away from the dust, tools, debris, etc. Don't underestimate how much of an impact living in a construction zone has on you and your family. If you're single then that is less of a concern. Once you renovate all units you can house hack or BRRRR or sell, more options this way too. If I were to do it all over again, that's what I would do with the exit strategy being to cash out refinance and buy another property.

Hi @Jenna Cole It's all done through EventBrite.com. I've been a regular attendee for months and now help organize as well. Here is the link to this months meeting: https://www.eventbrite.com/e/cincinnatis-best-ever...

Hope that helps, look forward to meeting you!

Can't wait to hear from Kevin Bupp about mobile home park investing! @Garth Kukla this is the conference I was telling you about.

Makes sense, that's what I figured, thank you. 

Let's say you use a HML to buy a house worth 100k ARV, for 30k plus 20k for rehab. When it is done you want to rent it for cash flow. Now you want to refinance so you can get rid of the expensive hard money loan. Heres my 2 questions, 1. Why are we calling it refinance since it will be a first mortgage. And 2. When doing this are banks looking mostly at value of home and LTV and as long as it's worth 100k and you only want 80k you're good? Or is there still a credit and income requirement even if you are renting for above what the monthly payment will be?

Thanks in advance 

Thank you everyone for the warm welcome!