All Forum Posts by: Trent Fiechtner

Hey Steven. If you want to get into real estate I might suggest not going to college, especially if you're undecided on what you're going for. Instead I would suggest getting a job that is real estate related and saving up some money to get into your first deal. One of the best ways in my opinion is to buy a four plex with a fha loan and you will control your first four units with very little upfront investment. Best of luck to you, and welcome to the site.

Welcome to BP Jon! Very impressive what you have accomplished so far!

Thank you Rick! Looking forward to hearing back from you.

Looking to get in contact with wholesalers that are selling in or around Cedar Rapids and Marion, Iowa area. Trying to find my first buy and hold property. Looking for a good cash deal that I can fix up, refinance, and have little to no money in. If anyone could lead me in the right direction I'd greatly appreciate it!

@David Kass Here is information on the next REI meetings in Cedar Rapids and Iowa City

Thanks for the advice Kyle. I do want to sell it rather than rent it as I'm interested in having all multifamily property the more I learn from the site. It's hard to be patient with all the new knowledge, but the loan costs probably outweigh the advantage of getting started a little earlier like you said. 

I have thought of using HELOC also, but bought the house as a flip before I found BP and would like to sell and get the equity out because I put all the money I had saved into the project before I knew better and the house is in a small town with poor rental market. Ideally I would like to start buying all 4+ unit properties using the brrrr strategy. Just don't know how I should be starting from my position.

I have a home I remodeled and own outright that I'm trying to sell and want to get into multifamily property. The house is listed at appraised value and has been on the market 2 months with no offers. Should I consider pulling a loan out on it for down payment on my first multifamily or would the cost to do that outweigh the advantage of getting started? Should I just wait to sell to get the equity out?