4 Deals in the First 4 Months ($1.2 M in value)

[Brett Grigsby]

I am, like many people on this site, a smaller real estate investor that has taken far too long to get moving in the game. For one reason or another there was always an excuse as to why it wasn't the right time to get moving. I have owned a SFH rental for 10 years, and only did my first flip in 2017, but I made 2018 the year to get moving.

My lifelong friend and I had always had the dream to build a business together. Since we both had our own rentals, we both have very flexible schedules, and we had the extra money, growing our real estate business was a no-brainer. I have worked in real estate for the past 8 years. Mostly multi-family, but in many different areas. My current employer is a smaller boutique real estate group with around 2300 units, but they no longer want to own smaller multi's or SFH. The deal they cut me, "pay us what we owe, plus 6 months rent, and enough to cover closing, and you can buy what you want."

Fast forward, we bought two houses in August, a duplex in October, and 14 units in November (2 houses, 2 duplexes, and 2 four plexes).  We also came across an off market flip in a staple neighborhood in East Louisville we couldn't pass up.  Over all our purchases have a total of $732k with an appraised value of just over $1.2M.  Current cash flow is just over $5k per month and the flip should generate between $60-80k.  We have some great relationships with local banks, and a number of private lenders, but at this point we have most of our "cash" tied up in this flip.  

I write this post for two reasons.  First, to offer some encouragement for newer investors out there to let them know there are deals out there, and if you take the leap, it can really snowball into other opportunities.  The second is to seek others advice on how to keep going with growth and acquisition, even with most our money tied up in other places.

Thanks in advance for any help!