Newbie, with some rentals, looking to expand

[John Castolene]

Hello all, I'm John Castolene, i've worked hard my whole life and was fortunate enough to save some money and buy 2 rentals the old fashion way with sizable down payments, i consider myself a newbie with some rentals but would like to expand into other markets, really starting to research alot, started my own anonymity structure and would like to learn more about acquiring properties with little to no money down, really would like to create a deal like this !!!

[Patrick Bavaro]

@John Castolene hey John, first congratulations! I too started out the same way you did through the old fashioned savings. It took me 2 years to finally pull the trigger and move into REI, and after a year of It I'm proud to say I'm at 3 rentals and growing! Im starting to see the snowball effect 😬. Not sure if you're planning to invest in state only or if you'd consider OOS or what you're requirements/goals are for that matter. I ve started to go out of market for my deals as SoFlo is ridiculous.

Currently I’m building a 4/3 new build in Cape Coral. Total all in cost is about $265k and I financed It at around 3.6% with 10% down. Rents right now are at about $2300 and climbing. Currently post construction appraisals are coming back at $340k-$410k depending on location of the property. If I play my cards right I will be Anel to do a cash out refi, still cash flow decently and take all my equity out to do it again or sell and have a super nice equity position come back to me. I’d be happy to connect to share experiences. Good luck!