All Forum Posts by: Brad Birky

Congratulations -- glad your first BRRR was a success!

Thanks @Ken Naim - much appreciated! 

I found a commercial multi unit property on loop net that I am interested in pursuing. It is set up as short term rentals and being sold turnkey.

I’m new to the commercial realm - do I need to search out my own broker to set up a showing?

I am also wondering how to come to a valuation, since I would be buying more than just the property (it is fully booked for the holiday season and the sale also includes all FF&E). Is there a formula based on revenue that is generally accepted?

Thanks in advance!

I am just looking to build a modest passive portfolio that will bring an additional $2000/month. Don’t need a lot - don’t want a lot. Wife and I live in a paid off tiny house just a block from the Gulf if Mexico. Life is good!

Wow - those after pics look great!  Would you be willing to share some of your numbers? Congrats on the flip!

Hello Denver BP community-

I am trying to learn the ropes by helping a local investor with a couple of his properties.

He has tasked me with finding electrical and general contractors to pull a couple permits for him in order to make his duplex compliant.

Here's the catch -- the work has been completed, (before I met him and became involved). He just needs to pay someone to pull the permits so it can pass inspection.

Any suggestions or referrals would be greatly appreciated!

@Allan Smith

Near the tri cities airport - Johnson City, Kingsport & Bristol.

We spent a lot of this summer in Johnson City- it seems like deals abound in the C & D neighborhoods!

If this don't work out for us further south, that is an area we may look into.

 No John - not lol.  They are telling you the reasons why it might not cash flow, you are just not listening.  If you have to make a major repair like broken pipes or a roof, you and your potential partner will spend more than you make that month.  If several tenants do not renew their leases and move out, you and your potential partner would spend more than you make until those units are filled.  There are dozens more scenarios where this could happen.  It is possible to make more than  you spend, but it is not guaranteed to happen.  

Thanks @Mya Toohey, @Joshua Newton and @Will Pritchett! We plan to narrow things down more in the coming months and will keep you posted.  

@James Carlson - it was through the reno of our last house in Denver that we are able to travel like this. Bought in 2009 and sold for over 2x our investment in 2018. So glad we were there when the market went crazy, but are over the snow and the cold. Which is why we are looking in TX and FL for our REI opportunities!

Thanks @Anthoney Hanks!