West Philadelphia born and raised

[Wesley Mitchell]

West Philadelphia born and raised, on the play.. you know how it goes. My name is Wesley Mitchell I’m Extremely excited about real estate investment in my city.  I’m newly wedded with no children. I personally already own a property fully owned with no loans out i inherited that’s worth 80k credit score is right around that 640 mark. I personally don’t have any debit other than 9,000 left on my student loans. House hold income is 90k with wife. My final goal is to do 8 single family home flips a year and to hold property that garners 5000 in monthly passive income in ten years.. My current plan is to take out a HELOC (home equity line of credit) out on the house I own for 64k (80%) to use as readily available cash to finance deals. Start a LLC to keep my personal and business separate and give me access to hard money. Find properties in west philly and university city. I want to use Hard Money loans for my first flip. My criteria is single family home sized of over 1500sq. Total investment needs to be 65% ARV and less than 10,000 our of pocket. I joined bigger pockets to connect with people and have already had success with people reaching out and providing information. I’m a sponge for knowledge and although in the beginning I would like to focus on single family flips I wish to learn about all facets of the business.