Linnea Minnema

My husband and I began investing out of state slowly using turnkey providers in 2015. We began buying local properties from the MLS in 2019. We both have full time jobs in higher education and are looking for a way to add an additional income stream. We live in Birmingham and have two children. Experience: We purchased a primary residence in July 2015. It was a condo for $95K that needed a bit of work. The idea was to live there for 2 years and then rent it out, however the condo and the whole complex proved to be rather run down. We sold the property for $98K in July 2016 and used the proceeds to purchase a primary residence in Birmingham in Nov. 2016. Beyond our primary residences, we purchased a turn-key property in Indianapolis in December 2015, which has been a solid cash-flow investment. In March 2017, we added an additional property in the Memphis area using the turn-key method that has been a fine investment. Neither property was a home run, but we were able to utilize the turnkey method to start us off and build momentum. In late spring 2019, after settling our family in Birmingham, AL, we began to revive our real estate investing plans. We took out a HELOC on our primary residence and used it to purchase our first BRRRR property in Center Point, AL in August 2019. It was refinanced in March 2020 and cash flows at $265 per month. The HELOC was deployed again in June 2020 to purchase a BRRRR property in Fultondale, AL. A third BRRRR property is under contract to be closed the end of August 2020, again in Center Point, AL. Real Estate Goals: By April 2024 our goal is to have $10,000 per month in cash flow income. Currently Seeking: Distressed, under-market homes in the northern suburbs of Birmingham in the $50 - $80K range. We will purchase them with cash, renovate with cash, and finally refinance to recover the war chest.