All Forum Posts by: Johnny Lynum

Spot on advice! 🔥 Thanks for sharing!

What’s the biggest red flag you watch for when vetting borrowers?

Hey Hima,

First off, respect for your determination to turn things around. Life has thrown you some curveballs, but you’re already on the right track by focusing on learning and planning. Here’s how I’d move forward:

1. Get a Real Estate Job
   Look for steady-paying roles like property management, admin work at a real estate office, or project coordinator with a developer. Your renovation experience is a huge plus—use it!
2. Start Saving
   Once you land a job, build up your savings for your first deal. Even small, consistent amounts add up over time.
3. Learn & Network
   Keep reading REI books, but also join real estate meetups or online groups like here on BiggerPockets. Learning from others is a game-changer.
4. Think Long-Term
   Even if you can’t house hack yet, that’s okay. Save, learn, and plan for when you can. A duplex or triplex could be a solid first step.
5. Get Legal Advice
   Talk to a trusted attorney before agreeing to anything like a trust. Your peace of mind matters.

You’re not late—you’re just starting fresh, and that’s powerful. Keep pushing forward; you’ve got this! 💪

-Johnny

Hey Don,

Sounds like an exciting opportunity! —this sounds like a great property with a lot of potential. Greenfield is a growing area, and being in a golf course neighborhood across two lots adds a ton of value to your options.

I’d recommend starting by connecting with local investor groups or meetups in Indianapolis—Facebook groups or here on BiggerPockets are solid places to find people actively working in that market. I’d also reach out to the Hancock County Planning Department to get a feel for how flexible they might be on replating and rezoning—better to get ahead early.

For renovations, if you don’t have boots on the ground yet, ask for referrals through local investor-friendly agents. They’re often well-connected to contractors and property managers who know the drill for moderate rehabs in that area. A moderate 80s update in Houston may not match Indy, so leaning on someone who knows the local buyer pool can save a lot of back and forth.

All the best,
Johnny

You’ve got a couple of good options here. Great question and great responses! Here's my take:

A 1031 exchange is solid if you want to trade up to a higher-value property and keep deferring taxes. It’s a good move if you’re ready to scale up or diversify your portfolio.

On the flip side, borrowing against the equity (like a HELOC or cash-out refi) can keep that property working for you while giving you funds to get another rental. It's a great way to expand without letting go of a good-performing asset. Just watch your debt-to-income ratio to make sure it stays manageable.

Both are solid—it depends on your goals. Want to grow fast? 1031. Want to build without selling? Tap that equity. 

Hey,@Caleigh McDonough! Great questions!

I agree with @Michael Smythe to consider the time to save vs the appreciation. 

For the 20% down, it'd lower your mortgage and eliminate PMI, but buying now could help you start building equity and gaining appreciation. Just keep an eye on interest rates and your ability to cover any cash flow gaps.

Consider properties that need a bit of work or up-and-coming neighborhoods for better deals. Or renting out by room can be an option for better CF. 

I’d look at the long-term value in that secluded newly built community—sometimes those areas can grow well, but they can also take longer to appreciate. Plus, you want to make sure you’re comfortable with the commute and potential tenant demand.

Oh, and curious, have you started making connections in that market - lenders, contractors, agents, or perhaps other investors too? I think that'll help you gain more insights into the market and start building your team for the long-term game. 

If you had the chance to invest in your first property, would you choose a single-family home or a multifamily property? I’ve heard arguments for both, but I’m curious—what’s your preference, and why?

Hey Brett, welcome to the community! I'm from Leesburg, and I can tell you—multi-family is a solid choice (piggybacking the previous comments which I agree 💯), especially with that live-in/rent-out, house hack strategy. It’s a great way to get your feet wet in real estate while building equity. See you in Lansdowne! Best of luck on your journey—excited to see you crush it! 

Hey @Shane Moore,

Welcome to BP! I can tell you're already on the right track with your goals and strategy. The BRRRR method and creative financing are game-changers! I agree with @Jonathan Greene in terms of having a specific buy box - size, condition, and type of properties you wish to focus on. It's great you already have the location, price range, and funding source! 💪 Way to get started! 

My advice? Next is to start building a strong network of local contractors, property managers, agents, lenders, and attorneys—they’re key to keeping things moving smoothly. Also, don’t hesitate to dive deep into the numbers on each property. Understand your market - would make it easier to do comps - recent sales, rents, etc. Know the demand and supply in the area. Even one deal done right can set you up for success. Each deal is unique and may require a different exit strategy than another. 5-10 properties for 2025! 🔥

You've got this! Looking forward to seeing your growth in the game. Let me know if I can help along the way. Would love to connect! 

Peace and blessings,
Johnny

Wow! Great responses on your post @Alex WinfieldI'm from Leesburg! Would love to connect!

The VA Vendee loan is a solid find! It's like a VA loan but available to veterans and non-veterans for VA-foreclosed properties, often with 5% down. No PMI, no early payoff penalty, and good rates—ideal for investors! Since info's sparse, connecting with VA loan experts might help fill in the gaps.

Check this out: https://www.benefits.va.gov/BENEFITS/factsheets/homeloans/ve...

For the Vendee Program, it's smart to get prequalified first—think of it as knowing your firepower before heading into the deal. Prequalification gives you a clear idea of your budget and helps your offer look solid. You could technically just make an offer, but without prequalification, it’s a bit of a shot in the dark. If you want to keep things straightforward, I'd say go the prequal route.

Best,
Johnny

Hey @Chi Sastry! Great question (and I love the comments too!)—creative financing can open up all kinds of options! 

As for sub-to mentorship, Pace is a big name, but there are a few other places you might want to check out. BiggerPockets groups —lots of solid resources and a supportive community here or at local REI meetups; you'll find folks willing to share tips (and maybe even some potential partners).

Here are some other strategies that could also help you scale faster:

1. Partnerships/Joint Ventures: Teaming up with others, especially experienced investors or people with capital but limited time. You bring the skills; they bring the funds—win-win.
2. Private Money Lending: Find people (friends, family, colleagues) interested in real estate but not actively involved. Many are open to lending at a good interest rate. It’s flexible and can help you fund deals quickly.
3. Lease Options: Similar to “rent-to-own,” you control a property with minimal upfront costs and can potentially get a cut of the appreciation if you decide to buy it later.
4. Lines of Credit: If you already own a property with equity, a HELOC or business line of credit can give you accessible funds for down payments or renovation costs.
5. House Hacking: This might sound basic, but if you haven’t tried it, it can be a fast track to building up rental income and experience without a ton of cash down. Plus, living on-site has its perks for managing tenants.

This list could go on and on... anyway, would love to connect! Exchange ideas here and there. Each one has its pros and cons, so find what fits best with your goals and risk tolerance - this is the most important. Keep pushing forward—2025-2030 is gonna be 🔥! Congrats on your 17 units! 🙌 

Best of luck,
Johnny