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Updated over 6 years ago on . Most recent reply

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33
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Stephen A Binion
  • Rental Property Investor
18
Votes |
33
Posts

Hi, I’m Stephen in Ohio.

Stephen A Binion
  • Rental Property Investor
Posted

Not a new investor. I've been a landlord for a decade but not crushing it. Had I known of the BRRRR method then.....

First deal was a duplex that was bank owned. County taxes had it as a 2  11/2 on each side. At 64 k it seemed expensive for the area. I drive by and looked. It had too many bedroom windows to be 2 1 1/2.  I got access and sure enough it had 3 beds 1 full bath and a half downstairs. Also had finished family roms in the basement.  

I bought and held for a while till the neighborhood started to drop. I sold at 110k due to the bedroom count going up but not the taxes as the county didn’t get informed of the error. 

I have 4 single family homes near my residence and a farm with a double wide mobile home on it 45 minutes away. All are free and clear  

In the very near future I'm going to increase the number of mobile homes at the farm as there is a septic tank for 2 more trailers and Refi my owned houses to BRRRR some more near me.

Most Popular Reply

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2,396
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1,747
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Brandon L.
  • Real Estate Agent
  • Falls Church
1,747
Votes |
2,396
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Brandon L.
  • Real Estate Agent
  • Falls Church
Replied

Hello! @Stephen A Binion

Welcome to BP, and congratulations on making the decision to invest in your future via real estate.

I have written a few blog posts that may help you get started here on BP, and with your investing. Please click on the links, give them a read, and share your thoughts in the comments.

First is a post that I feel will help not get overwhelmed with the amount of info that is here on BP:

https://www.biggerpockets.com/blogs/5868/52761-the-simple-guide-to-getting-started-on-bp

The second is a post that will help get you focused with your real estate investing goals:

https://www.biggerpockets.com/blogs/5868/52743-im-new-to-bp-any-advice-would-be-appriciated

The last one is a post that will help you choose an “investor friendly” real estate agent. There are many agents out there, but it’s important to choose the right one.

https://www.biggerpockets.com/blogs/5868/52724-im-new-to-investing-how-do-i-find-an-investor-friendly-agent

I love answering questions if you have any! Good Luck :)

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