All Forum Posts by: Blake Edwards

@Martina Su - Feel free to reach out.  The world of real estate investing seems intimidating at first.  We try to simplify it and make it work for you.  We're in Northern CA as well and if you are looking in the Sacramento area, @Kyle Renke is a rockstar up there!

@Kellie Harden - You are in our backyard!  We (The @David Greene Team) hold meetups fairly regularly and we love meeting new people and talking shop!  Let me know if you're ever interested and we can set you up to be notified anytime we schedule one!

@Bernard Nieto - I'm not a lawyer so this isn't advice, but I can tell you we use an LLC to insulate us from our personal assets when investing. They are not hard to set up and if you do create an LLC, it may be a good idea to have an operating agreement in case a bank or financial institution asks for it.

@Cara Kennedy - I agree, those books by David are great and provide a great template, but I AM a bit biased ;)

@Ryan L. - Welcome to BP, and congrats on the early stages of your rei career!  Since you commute to SF from the South Bay, have you looked into the East Bay at all?  There are still a lot of surprising opportunities out there.  The South Bay also has some opportunities to House Hack to get your feet wet as well as offset a huge portion of your mortgage.  I agree, the books by David are great and provide a great blueprint, but I am a bit biased ;)

Let me know if you ever want to chat as we hold meetups in the Bay Area fairly regularly!

Welcome again!

@Zoran Stanoev - I agree. The book is excellent as well as the podcast (yes, I am biased) to learn about BRRRR. In my opinion, it may be the right strategy for @Andrew Smith to get some momentum going, and use it going forward.

@Jordan Sizelove - Right Here!

Hey @Armel Bayot Shoot me a PM and lets chat.  But short answer, yes.  We are based in Brentwood and work all over the San Francisco Bay Area.  

@Brian Van Pelt - Yeah you're right.  If this was in Brentwood, it would be a different universe we are living in.

  This in Missouri.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $55,000
Cash invested: $28,000

BRRRR!
Found a 3 bedroom home and added a 4th to increase ARV.
New roof and newer systems, as well as updated floors
Placing a tenant now, and projecting great cash flow ($600+) !

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

BRRRR'ing is our strategy and this is the prototypical deal we are after

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

We found this through an agent and wanted to get inspections done in a timely manner. We were past our inspection contingency date, but our relationship with the agent (who was double-ending it) allowed some leeway there and we were able to get everything done, and feel "comfy" proceeding.

How did you finance this deal?

Through a small, local bank. You don't always need cash, or Hard Money!

How did you add value to the deal?

We added an additional bedroom to make it a 4 bedroom home, thus increasing the ARV

What was the outcome?

We are placing a tenant now and refinancing next week!

Lessons learned? Challenges?

We scrambled to get our inspections done over the weekend and were not able to. We were past our inspection contingency date, and were still able to get the deal done by multiple phone conversations. Not emails...Not texts... Actual phone calls.

@Armel Bayot - Welcome! There's a lot of great info here as well as people! It's always great to hear when people from my neck of the woods (The SF Bay Area) become interested in REI. We (The @David Greene Team) hold meetups pretty regularly which can be found on the events page.  Lots of knowledge out there to be had for free, as well as people who are more than willing to share lessons learned in their journey!