About to make my first deal in Cheyenne, Wyoming

[Forrest King]

Hi everyone!

I'm Forrest, I'm a 32 year old single father of 2 and I've lived in Cheyenne for 12 years, owned my own home for 8. 

I'm here to learn! I've listened to the podcast for sometime and I'm excited to meet some like minded individuals :)

I just took out an equity credit line for 25k to use as a down payment on my first 4-plex.

Cheyenne is a very steady market with slow growth but ONLY growth, and it's very easy to cash flow property with minimum down conventional loans.

I'm going after a c+ 4-plex for around 160k... not that hard here. I will use the credit line to cover 10% down plus closing costs with a little left over for a quick facelift on the outside, and then rehab 1 unit at a time. 

Rents here are often over $1 per square foot.

I'm taking the BRRR approach and plan to purchase 2 properties or more per year once I get started.

I've always dreamed of building a real estate empire, and it's exciting to be in the beginning stages of making this happen. Once I max out conventional loans, I will move on to bigger multi-unit properties and new construction. 

A lot is hinging on this first deal, and I'm grateful to have the resources of bigger pockets to guide me!

-Forrest