All Forum Posts by: Ian Mains

Just bumping this thread to see if anyone has some more feedback. Heard about them at my local REIA last night, and another investor said she recommended the product but I didn't have time to get details. Thanks in advance!

1. Sell current primary residence.

2. Close on new build (smaller, cheaper, long story but we are happy with it).

3. Attend as many REIA and other meetups as possible.

4. Continue shopping around for my "Core Four".

5. Develop my criteria for what I want in a property.

6. Get pre-approved (after we close on the new mortgage for new primary residence).

7. Evaluate one deal a day, offering on those that make sense and sticking to the numbers that work.

8. Close on first investment property by the end of the year.

9. Read 12 books.

10. Weigh 190 at end of year. 

Hello BP Community! 

It's been awhile since my intro post, over three years, but I am back and getting truly energized about the possibilities available for BRRRR investing to those willing to do the homework.

I have been busy educating myself as much as possible lately. I am currently reading David Greene's BRRRR book, and he mentions it would be prudent to save up for the full purchase of your first deal (compared to putting 20% down), however I don't think I will want to wait that long. My finances are in a much improved position and will find myself being able to save quite a bit through my day job, but would still probably take quite some time to save up enough to pull off a deal in all cash.

From reading about hard money here on the forums, it appears that is a possible solution. I could see myself in a position where I am able to put some skin in the game on a hard money loan in order to procure a deal (still learning about that part).

My question is: has anyone done this, especially for a first BRRRR deal and willing to share details/pitfalls/lessons? Any lenders I should look at or avoid?

Thank you @Ray Lai! I would be happy to check it out. Please let me know the details. I'm definitely looking to start taking action in this realm soon, and not let myself get sucked into the "paralysis by analysis" syndrome.

@Rick Pozos, I definitely plan to check out one of your meetups. @Ian R., we probably live closer together than you think. I live on Potranco Road just past 211. I take it down to the 90 every day on my way to work. I'd definitely like to get together, especially if we are of like mind and background!

Thanks all! @Kevin Hunter I bookmarked that one for future reference. Definitely appreciated!

Greetings BP! I retired from the U.S. Army last year and decided to settle near San Antonio, TX. I don't have any background in real estate, but am educating myself currently with all the rich content on here as well as with two of @Brandon Turner's books (which are quite informative by the way!) My current employment is in the Cybersecurity field.

In what seems like a never-ending quest for self-improvement, I came across the idea of land investing. I tossed it out to a couple of guys in the office where I worked at the time who are both in the real estate game on the side. They both mentioned that I should check out Bigger Pockets. I signed up for an account that day and have been learning ever since. I have come to the conclusion that for "little" people like me (by little I mean I wasn't born with much of an advantage), real estate was one of the possible avenues to true wealth and legacy building. It just seems to me that if the math is favorable, and you are willing to hustle a bit, success is there to be had. I also like the idea of not having to work for the man down the road if I don't feel like it anymore.

I am interested in land investing (yes, still, and I'll make a separate post about it) and buy and hold. Off the top of my head, my farm areas for any buy and hold will be NW-W San Antonio, as well as any areas in town that may otherwise be frequented by military renters. 

I am currently in the process of cleaning up my finances, but I plan on having my first rental property under contract by the end of next year. If things go right, possibly sooner. In the mean time, I will be working on evaluating deals, getting my funnel started, and learning everything I can so that I can pull the trigger when the time is right.

I plan on attending at least one of the 3 local REIA meetings in the near future, and am interested in smaller meetups as well.