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Updated 4 months ago on . Most recent reply

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Jason Boring
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Contractor getting into value-add real estate investing

Jason Boring
Posted

I am a 45 year old contractor and have been in construction all my life. I have done well in the construction industry and am now in a position to pursue real estate investing full time. I would like to do a combination of both flips and rentals depending on what makes the most sense for the property location and needs. I live about 30 minutes outside of Knoxville in a used-to-be small town that is booming and shows no sign of slowing down. I have nearly $100k to invest but would like to use it in a way that multiplies it and doesn't tie it up for long periods of time. Properties in my area cannot be bought undervalue like is always the recommended way to buy. I've been listening to BP for a few months and am very excited to get started investing.

  • Jason Boring
  • Most Popular Reply

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    Jonathan Greene
    #5 Starting Out Contributor
    • Real Estate Consultant
    • Mendham, NJ
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    Jonathan Greene
    #5 Starting Out Contributor
    • Real Estate Consultant
    • Mendham, NJ
    Replied

    You have the skillset and business to save on value add for flips and the BRRRR strategy so you can pay more than investors who need to find a contractor. Use that to your advantage. You still have to pay your crew, but you don't pay yourself and you should have subs who work for wholesale prices for you so you have a leg up. You can use hard money to match your skillset if you need to so you only need 20 percent down for a short time and you can pay the rehab costs on your own out of the money.

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