11 year contractor turned full time REI.

[Simon Walker]

Hello everyone. Reaching out today to get some clarity. I am currently full time in real estate. I've been utilizing the BRRR method and have been successful thus far. I currently can't get over my scarcity mind set of there "not being enough money" out there to fund deals. I have a proven track record of being able to identify a property, make the appropriate repairs, and have an ARV that exceeds the cost of purchase and repair. I've currently used a local bank to fund my last three projects, but it can be a bit slow and we all know conventional lending has its drawbacks. However, they have been great and have funded every project I've brought to them. My end is goal within the next 3-4 years is have 25 doors in my portfolio.

What should my expectations be to achieve this? Any private lenders that are interested in working together to achieve this goal?

[Brandon Croucier]

Opportunity cost is a serious expense, if they are moving slow, they are COSTING you more money than what a hard money lender might able to make you. In Real Estate, TIME IS MONEY.

Getting a rehab loan done quickly is worth paying an extra few points in order to be efficient as you will be able to expand your BRR business which would yield results greater than the increased cost of capital that hard money brings.

In order to escape a scarcity mindset you need to understand that money is in theory unlimited, they print it.

But can you print time? Nope. 

Time is your most scarce resource.