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Updated almost 10 years ago on . Most recent reply

User Stats

11
Posts
1
Votes
William Rutledge
  • Investor
  • Laughlin, NV
1
Votes |
11
Posts

Looking for a Mentor in Diamondhead, MS

William Rutledge
  • Investor
  • Laughlin, NV
Posted

Hi BP members, my name is Brad Rutledge.  I am new to Bigger Pockets and am looking for a mentor to provide some guidance on my investment plan.  Questions, SF or MF and my financing approach.  

Key facts of my financial situation. No debt except Primary Mortgage, HELOC - 100k available, 40k cash, 700+ Credit Score.

My plan is to flip 4-6 properties per year for profit of 20k minimum. Also would like to buy/rehab/hold 4 rentals per year with ARV of between 60k - 90k at 70% MPP including all costs.

My plan is to set up LLC to hold title and pay for the property in cash using the HELOC, then to put a Commercial Loan on the property to coverage purchase price and repairs.

Thoughts...

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