All Forum Posts by: Duane Kidman

This sounds like a Joint Venture. You will need for your attorney to draft the JV agreement to capture the details. Sounds like a great deal for both of you. Good luck.

For those that use Brandon's Intentional Journaling, or those that journal on their own: can you quantify the difference it has made in your investment business?  What I mean by quantify could be any of the following or something else that provides value in your life: increase your net worth, resulted in higher efficiencies, increase in your portfolio, provide more time, ... etc.  So I ask again, what quantifiable benefits have you experienced from journaling. 

You can fix and flip without any out of pocket money if:

1) you find a great deal, and 

2) receive 100% hard-money.

What I recommend is that you find the great deal and JV with another experienced rehabber. After one-or-two joint-ventures, you should have the experience to get a hard-money loan for follow-on flips.

Good luck!

I am looking for an accountability partner.  I am located in the Dallas/Fort Worth area, and my real estate focus includes Rehabs and Wholesaling, and eventually Rentals.  My accountability partner can be located anywhere within the United States, we can talk once a week, review each others actions (or lack of action), strategize current deals, share knowledge, and learn as we go.  If this appeals to you, message me and we'll talk.  I look forward to speaking with you.  Thanks.

The BRRRR method is a great strategy, but I have a concern. Does the BRRRR method maintain itself during recessionary periods with high unemployment. When you refinance and move the funds into the next property, it appears to me that you are building a house of cards. If too many tenants cannot pay rent due to market conditions (ie. 2008-2010 high unemployment), how do you pay the series of mortgages.

I have not heard anyone talk about retaining 6-months of mortgage payments in liquid assets.  Otherwise aren't you at risk of a  potential cascade affect of mortgage foreclosures if several tenants cannot pay their rent.

What is the recommended BRRRR strategy to full-proof your investments, regardless of the economy?

Buy a 2-4 plex, and rent out the other units, or what my Brother did: converted part of his house to an efficiency and AirBnBs it to pay his mortgage.

@Joshua Top For flips: Definite no on Washer and Dryer. On high end Flips with built-in frig, yes, otherwise no. Frigs are personal items that are best picked-out by the Buyer.

Hi and welcome Don, I worked for Gardner Denver years ago designing Drawworks equipment. Brings back fond memories of the beginning of my Engineering career. I’m a Rehabber and Wholesaler in Tarrant County, a great place to accumulate rental properties. Contact me and we’ll talk. Thanks, Duane

Hey Sandra, What is the fee for this event? Thanks!

It sounds like you haven’t received any other offers. Otherwise you wouldn’t be complaining, rather move to the next buyer. A better solution is to write holding costs into the Purchase Agreement if closing extends a certain period beyond the closing date. Then this wouldn’t be an issue.