Slow closing and slow general contractor

[Adam Dudziak]

I am working on growing my real estate portfolio with the long-term goal of retiring early. I have flipped three houses, purchased a duplex, and now like the idea of flip and hold using BRRR. My problem is slow timeframes.

My current project is a single family home. It is almost complete but has taken six months. I’m looking for any recommendations and/or strategies to get the process to speed up so I can scale faster.

Here is how my current project paced:

1. Cash purchase. Planned for two week close but delays turned it into 8 week close.

2. 30 day contract for rehab completion with general contractor. We are not at 90 days. (Poorly written contract so I’ll adjust this next time)

3. Although it’s a cash purchase, bank is saying I still have to wait 6 month seasoning from date of purchase. I assumed I could bypass this since I paid in cash.

Many factors at play but I would like to be able to buy 3 or 4 houses (or more) a year. How can I speed this up?