All Forum Posts by: Justin Lee Taylor

So I have been on bigger pockets for about a year but I haven't consistently been on this site. I've been on and off, but the last 6 months of my life I have been super serious about my first property and I finally got my first property about a week ago. I have not done an introduction post yet so i figured since I am finally serious and now I'm going to be on here more Id go ahead and do an introduction post. So my profile says im working on an investment with a quadplex, I just do not know how to delete, but im not on that quadplex investment anymore. I bought my first property a few days ago. Its a duplex and my monthly note is only 650 a month. Both tenants are paying 600 a month right now, which I plan to raise the rent if they move out. But right now I am cash flowing I could be cash around 600 a month if i wanted to, but i have portion of that income going to 8% property management and another portion going into a reserve account, which leaves me cash flowing 250 a month. But I am 24 years old right now and I landed my career job right now with this house flipping/wholesaling business that will give me the tools to buy more properties and the funds to buy the properties. I plan to not touch any income from any property until im turn 30. As i buy properties, the money will go straight back into the investments for the next 6 years of my life. 

I HOPE TO SPEAK ON BIGGER POCKETS PODCAST ONE DAY SO THAT I MAY SHARE MY FAITH AND SHOW OTHERS THE POSSIBILITIES!

I am now part of a wholesale/flipping business. The owner asked me to come in and help with marketing. We are trying to build a significant buyers list. Do y'all have any advice on building a buyers list. We flip about 40 houses a year and wholesale about 3-5 deals a month.  We are looking to scale upward and double everything so now we have to build a bigger buyers list. And we are looking to raise private capitol. Any advice for the two?

@Ryan Blake thank you!

Does anyone use the carrot tool online for finding leads?

I am a new member somewhat. I’ve had bigger pockets for a while and I’ve listened to every single podcast and read every book they wrote! I just graduated college and just closed on my first duplex which is cash flowing $350 a month. I could not have done it without all this help

@Noelle Pritchard Barkley I think the best advice is to network and learn who has a proven tract record. Diversify the money. Use a portion in a syndication deal with an experienced investor and learn from that investor before you try anything on your own. I think the biggest thing is networking and learning from other investors. Learn what you can then try a syndication deal before you try a deal on your own

Investment Info:

Small multi-family (2-4 units) other investment in Jonesboro.

Purchase price: $130,000
Cash invested: $10,000

Quadplex that needed close to $25,000 in repair. One 2 bed one bath and the other 3 units are 1 bed and 1 bath. The 2 bed and 1 bath has central air and heat. The other 3 have window units and gas.

What made you interested in investing in this type of deal?

I am in college and needed a place to live while in college and I did not want to pay rent somewhere. I have listened to every single podcast for bigger pockets and they are they reason I was able to make this deal work out.

How did you find this deal and how did you negotiate it?

I had an agent call me. I told him what I was looking for. I actually had several agents that had me set up on an email list.

What was the outcome?

I am house hacking. It is a quadplex. I had to become really creative with financing. I read Brandon Turners book on investing in real estate with no or low money down and that book was really helpful to me in this investment. It talks about how financing is an art as much as it is science. I learned about a 203k loan. When I asked my lender about the 203k loan he didn't even know what it was so he referred me to another lender who knew what it was but had never used one. My quad plex needs abou

Investment Info:

Small multi-family (2-4 units) other investment in Jonesboro.

Purchase price: $130,000
Cash invested: $10,000

I am house hacking. It is a quadplex. I had to become really creative with financing. I read Brandon Turners book on investing in real estate with no or low money down and that book was really helpful to me in this investment. It talks about how financing is an art as much as it is science. I learned about a 203k loan. When I asked my lender about the 203k loan he didn't even know what it was so he referred me to another lender who knew what it was but had never used one. My quad plex needs about $20,000 in repairs and the 203k loan will pay up to 27,000 for the loans and pay for the house. I have it on a 30 year mortgage with 4% set interest rate. It is 3.5% down. I found this money by asking my buddy to max out his student loans and letting me borrow the money. This worked out because he has 3 more years of school and he does not need to pay back the loans until he graduates. I found another lender that will let me take out a HELOC loan against my quad plex once the house officially done. This is my BRRR method. I bought the house, and now I'm taking out a line of credit to pay back my buddy and im going to use the extra money as a down payment for the next property. While living in the property, im cash flowing $300 a month and this covers my expenses and mortgage note.

What made you interested in investing in this type of deal?

I am in college and needed a place to live while in college and I did not want to pay rent somewhere. I have listened to every single podcast for bigger pockets and they are they reason I was able to make this deal work out.

How did you find this deal and how did you negotiate it?

I had an agent call me. I told him what I was looking for. I actually had several agents that had me set up on an email list.

Investment Info:

Small multi-family (2-4 units) other investment in Jonesboro.

Purchase price: $130,000
Cash invested: $10,000

I am house hacking. It is a quadplex. I had to become really creative with financing. I read Brandon Turners book on investing in real estate with no or low money down and that book was really helpful to me in this investment. It talks about how financing is an art as much as it is science. I learned about a 203k loan. When I asked my lender about the 203k loan he didn't even know what it was so he referred me to another lender who knew what it was but had never used one. My quad plex needs about $20,000 in repairs and the 203k loan will pay up to 27,000 for the loans and pay for the house. I have it on a 30 year mortgage with 4% set interest rate. It is 3.5% down. I found this money by asking my buddy to max out his student loans and letting me borrow the money. This worked out because he has 3 more years of school and he does not need to pay back the loans until he graduates. I found another lender that will let me take out a HELOC loan against my quad plex once the house officially done. This is my BRRR method. I bought the house, and now I'm taking out a line of credit to pay back my buddy and im going to use the extra money as a down payment for the next property. While living in the property, im cash flowing $300 a month and this covers my expenses and mortgage note.

What made you interested in investing in this type of deal?

I am in college and needed a place to live while in college and I did not want to pay rent somewhere. I have listened to every single podcast for bigger pockets and they are they reason I was able to make this deal work out.

Investment Info:

Small multi-family (2-4 units) other investment in Jonesboro.

Purchase price: $130,000
Cash invested: $10,000

I am house hacking. It is a quadplex. I had to become really creative with financing. I read Brandon Turners book on investing in real estate with no or low money down and that book was really helpful to me in this investment. It talks about how financing is an art as much as it is science. I learned about a 203k loan. When I asked my lender about the 203k loan he didn't even know what it was so he referred me to another lender who knew what it was but had never used one. My quad plex needs about $20,000 in repairs and the 203k loan will pay up to 27,000 for the loans and pay for the house. I have it on a 30 year mortgage with 4% set interest rate. It is 3.5% down. I found this money by asking my buddy to max out his student loans and letting me borrow the money. This worked out because he has 3 more years of school and he does not need to pay back the loans until he graduates. I found another lender that will let me take out a HELOC loan against my quad plex once the house officially done. This is my BRRR method. I bought the house, and now I'm taking out a line of credit to pay back my buddy and im going to use the extra money as a down payment for the next property. While living in the property, im cash flowing $300 a month and this covers my expenses and mortgage note.

What made you interested in investing in this type of deal?

I am in college and needed a place to live while in college and I did not want to pay rent somewhere. I have listened to every single podcast for bigger pockets and they are they reason I was able to make this deal work out.