All Forum Posts by: Andrew Zannotti

If you look up Fort Hood investor meet up in the events area on here you will see the local REI group that was set up, it's very new but very useful. The next event is set for the 8th of January. The presentation topic for this one will actually be a BRRRR that I am working on currently unless the topic changes. It's not a perfect BRRRR, I will leave some money in it and I didn't use a VA loan for it but it can give you an example of seeing how someone is actually doing it.

That's completely understandable. The best thing I've found is to have someone that is doing what you are doing or at least someone that is trying to to bounce ideas and stuff back and forth with. I have 2 people I met that I'm constantly texting back and forth with about what I'm doing and it goes a long way to help.

@James Lauer I think what you are feeling at this point is natural. I've got three properties under contract at the same time and I question myself about it all the time. The thing I tell myself is to trust my numbers, my research and to make sure I have the necessary reserves. I don't know anyone personally that is scaling as quickly as you are or I am but there are tons of people on here that are so it definitely can and is being done.

@Jeremy Fay If everyone is fine with it I would be more than willing to present it. The property should start demo in one of the units this weekend so I would have no problems showing it as we go through the process. It's not a perfect BRRRR because my budget is gonna be a little higher than expected but it should sti be a solid deal.

I also get back into Killeen tonight so I'll call around to a few places tomorrow to see if there is a place we can have it.

Can you set an event thing for it so I have an idea of how many people will attend so I can let whatever place it is at know?

@Remington Lyman that's the plan once I get settled in back where I am and have my system built. At least in the mean time I can share how great you are to work with for anyone looking in the Ohio area.

@Emily Kaye as kinda alluded to in the posts above I would recommend that you start working on getting in the kind of mind set for when your big opportunity presents itself. Work to identify the specific area or neighborhood you want to be in, contact a agent and start receiving deals on the MLS. Join your local REI and start networking, you may meet a wholesaler that has a property at a discount that will work for you or potentially an investor that wants to invest in you and your idea and JV with you on this. Build out your business plan and know your numbers, what can you expect in revenue, initial capital required to furnish your units, turnover costs, utilities etc for the type of property you have in mind, they won't be set in stone because you don't have the exact property but great planning leads to amazing execution. Start looking at places like FB marketplace, craigslist and other places for deals on the stuff you need to furnish your units, if you snatch up stuff when it's dirt cheap over time it will significantly reduce your costs as opposed to rushing it and doing it all at once. Having said all this I'm gonna be honest, I haven't done an STR yet but I plan on buying my 1st this summer as a vacation home and that's my plan. Until then I'm BRRRRing until the wheels fall off in Texas.

Best of luck and keep posting as you continue your journey!

@Marvin Michel I would recommend identifying a specific market you would like to invest in and find the real estate agent in the area that is an investor himself/herself in that market because they will already have a good understanding of what your needs are and and they have resources and deals (off market included) readily available. While deployed earlier in the year I did research and picked to look at Columbus, Ohio. I found an agent that checked those blocks and brought every resources needed to put me in the best position to succeed. Unfortunately, I kinda ran into issues while gone and wasn't able to close on a transaction but it was more work related to where I was and has nothing to do with the agent. Now that I'm home I've been going really heavy in my own market. If you are looking at Columbus I have one of the best agents I've worked with to refer you too.

@Nicole White Is there any additional equity in the property where you could have them hold the note until you finance it into a long term note? IE I just put a duplex under contract that I agreed to pay 10% down on an owner finance that he will take interest only payments on for 6 months while I rehab, then I'll refinance out and pay him his balloon and pull my repairs capital out?

@Andrei P farley Congratulations on having a few in the books while balancing being active duty, I am also and it's definitely a challenging process. Which market are you investing in? I would recommend going with the value add strategy so that you can continuously recycle your money and create equity, that's what I've been doing because I have a finite amount of money for REI. I would also look at creative financing, I have a owner finance deal under contract, it's totally doable if you don't mind beating up the phones and talking to people. In terms off using hard money it's a numbers game and totally a possibility, I have used it for a BRRRR and am using it for another I just closed on, keep in mind you usually have to bring just as much money to the table as getting a conventional loan, you just have the flexibility to pull it all or some back out when you do your refinance if you can make your numbers.

@Jasmin Thompson I just closed on a property in Killeen and used Nexus Capital and so far so good. I've also spoke to Wildcat lending about them funding a deal for me. If you want to shoot me a message I can send you the information of who I spoke to there for my funding.