All Forum Posts by: Rawn Wilson

I have done single family BRRRR and am familiar with the process. I stumbled across a deal on commercial property and I want to do the same strategy. All of the commercial lenders I have talked to have told me they will only lend me 70% of invested money (purchase price plus rehab costs). The new appraised value does not matter because commercial real estate is volatile and they want me to have 20% real money in the investment. There has to be a way to do this. What are some creative ideas? Here are the numbers. Purchase 250k 80k rehab. 330k total cash invested. I would need a 475k evaluation after to get all my cash back out. I believe the property to be worth that after rehab.

I was looking for a multi family property when I stumbled across an interesting property. Half acre lot in the middle of an established neighborhood with multiple buildings on it. It has a 1500sq ft 3/2 house with an attached 1/1 apartment on it. In the backyard is an additional separate efficiency apartment. On the side lot are 2 full mechanic shops. One has 2 bays and a large office, and the other has 3 bays, an office, and 2 lifts. The story is a guy lived there for 30 years running the shops and passed away. The kids want to sell it all. Current zoning says it’s all residential land with a commercial building on it. I’m paying cash, but would like to refinance later. Do I seek a residential or commercial appeaser and loan for this? The shops and house have different addresses. Can I get 2 different loans? One for house and one for shops? I’m trying to get creative rob make the numbers work. I figure I can get $5000 combined rent from everything. 2000 large shop 1000 small shop 1000 main house 600 Apt 400 efficiency. What sould I take into consideration?

Military man for the past 26 years.  I am still in, and managing a large scale maintenance program for the National Guard on a full time basis.  I am a big fan of Bigger Pockets.  The podcasts are the only things keeping me sane on the long road trips I take on a weekly basis.

I have just completed my first major rehab in Houston, TX. It was a flood house that I took down to the studs. I did a majority of the work myself, and am not scared of sweat equity. Finished the BRRRR in July 2018.

My long term strategy is to acquire a large rental portfolio to make enough passive income to retire from the Army and not have to work again if I don't want to.  I want to spend quality time with my young children.

The Army has recently assigned me to Austin, TX for the next 6-8 months.  I would like to find a single family or preferably multifamily house to live in and rehab while I am here.  I will turn it into a rental or AirBnB when I return to Houston.  I am looking for local agents/wholesalers that can help me find that perfect property.  I am also looking for local meet ups to get some contacts and start experiencing the Austin area.

I look forward to meeting investors in the Austin area.