All Forum Posts by: Branden Wilkinson

@Nathan Gesner You are right, I definitely should just save until I can pay cash. Was just looking at getting a truck because I only own a car and a truck for me would be more useful. 

I am using PropStream to try and find some off market deals to start cold calling and hopefully get a deal, any tips or tricks or other tools I should be using to try finding these properties. 

I have two rental properties which has racked up roughly $400,000 in mortgage debt. I never have late payments, my credit score is 730ish and I went to apply for an auto loan but was denied. I have no other debt and have a decent amount in the bank, so the only thing I can think of is because of my mortgage debt. What should I do? I thought about creating an LLC that way it would fall under the companies debt and not my own.

@Jaron Walling     

Purchase price was 255,000, Mortgage 1610, rent 2300, about 100 expenses per month

@Rick Albert, Thank You!

Currently I do not have to much purchase power with getting this last property.

I have little equity in my properties due to not owning them for that long

House cash flows $600 monthly, the duplex I am housing hacking covers the mortgage for the next year

Short term goal is to save enough for either FHA or Conventional Loan for my next Multifamily within this year. Long term goal, I want to cash flow $10K monthly from my properties.

I would say my risk tolerance is high, everything I have been doing is brand new to me so right now it all seems risky. But I do not go into a deal that will just break even. Minimum cash flow I go with is $500, try to shoot for properties that I think will cash flow $1,000.

As of today, I currently rent out a single family home and I am house hacking a duplex that I plan on renovating into a triplex (basement unit is not finished but it was meant to be a triplex). I used VA loans to acquire both properties which means I will be living in my duplex for the next year. I do not want this to be the case with my next multifamily property, assuming that in this year I can save up a good amount of money due to having both mortgages covered with rent income and making close to $600 cash flow on the single family home, what type of investment strategies should I be looking into to get another multifamily. I have been heavily looking into the BRRR strategy.

Hey everyone, my name is Branden, new real estate investor. Currently house hacking a duplex as well as renting out a one-family house. Excited to learn and grow more!