All Forum Posts by: Andy Horobec

Of course. 

Hey guys my name is Andy. I am a part time fireman and full-time real estate investor/wholesaler/agent. I currently market to the Saint Louis market by cold calling absentee owners. I have a few properties right now for assignment. I am looking for buyers of all kinds. I have tenant occupied rentals, newly renovated occupied turnkey rental, a distressed 3/1 SFH that is vacant, a newly renovated owner financing deal and more in the pipeline. I live here in Saint Louis

Thank you for responding

I appreciate the response. I was definitely planning on speaking with my CPA!

Can I use income from wholesaling to pay off my house without paying taxes on it. Would I be able to accomplish this by quit claiming the deed into an Llc? 

I did all the work myself except electrical and 1/2 of the painting. I purchased it with my HELOC. It was 3% for 6 month introductory rate. No cash back at refi, but I did recoup my entire investment including all holding costs. I have a $131,000 DSCR loan on it now at 7%. Cash flow is about $350/month after this year. At closing I paid all of my insurance for the year so right now it is closer to $600/month.

Investment Info:

Single-family residence buy & hold investment in Florissant.

Purchase price: $95,000
Cash invested: $30,000

This was my first rehab. I was able to BRRRR it!!! I updated the bathrooms, floors, kitchen, Mechanicals, sewer lateral, Paint, doors. I was able to do a DSCR loan and re-coop my entire investment.

What made you interested in investing in this type of deal?

Bigger pockets

How did you find this deal and how did you negotiate it?

agent

How did you finance this deal?

heloc

How did you add value to the deal?

rehab

What was the outcome?

cashflow baby

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $95,000
Cash invested: $30,000

This was my first rehab. I was able to BRRRR it!!! I updated the bathrooms, floors, kitchen, Mechanicals, sewer lateral, Paint, doors. I was able to do a DSCR loan and re-coop my entire investment.

What made you interested in investing in this type of deal?

Bigger Podcast Podcast!

How did you find this deal and how did you negotiate it?

MLS-Agent

How did you finance this deal?

Heloc

How did you add value to the deal?

Complete Rehab

What was the outcome?

Cash flow baby!!!

Lessons learned? Challenges?

Rehabs are hard and cam the sewer

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Jack Luttage helped me with my DSCR loan!