All Forum Posts by: Brett G.

Originally posted by @Dan Krupa:

@Brett G. - I wouldn't jump into St. Joe. My two cents. That is my personal investing strategy. To each their own.  I don't see future growth there. 

 Yeah, that's kinda my gut feeling.  It would be difficult to mange from another state.  

St Joe has been pretty depressed for a while. Low wages, a lot of very old houses that have fallen in disrepair, and a lot of empty lots that used to have homes on them.  

The houses there are priced low for a reason...

Welcome! I am originally from NW MO.  I have been looking at Kansas City and St Joe to invest in.  I do get back there on occasion as I still have family in the area.  

How is St Joe these days?  Is there any economic growth or rejuvination going on there?  

Welcome @Ashley Trahan!  The Front Range is a pretty tough place to start right now.  There are deals to be had, the entry points are pretty high though. I am looking in to other markets myself.  If you spend any time on BP you can find those markets and find the people that are in those markets.  I am reading Long Distance Real Estate Investing by David Greene (available through BP or Amazon) to help me understand what it looks like to invest out of state.

There is a lot you can learn here.  The podcasts, blogs, forum, etc are all very helpful.

There's no better time than right now! Kansas City is close to you. You can search in BP and find out who and where there are meetups. That would be a great opportunity for you to meet folks and introduce yourself. I think St. Joe has a few folks on BP as well.

Originally posted by @Will Proulx:

@Eric James Awesome. Very helpful. That's where I'm at, sort of frustrated because I've come to a point in my "self-education" in REI that I realize that the BRRRR method (if you want to get all or even all+some back out) ONLY works with downright exceptional deals....I am not discouraged by this, if anything, I'm more fired up to sniff out the deals, but man...it seems like it's gotta be WAY below market value AND be situated in an area in which upgrades will drastically increase the ARV for me to be able to make the refi work for me and continue reinvesting that money in more properties.

This is what I am discovering as I am starting to put the pieces of my plan together.  The gurus tell you that all you have to do is refinance and pull out all (or more) of your cash invested and do it all over again.  However, there is much more to this.  I agree, the only way to get the most money back to use again is to find those screaming deals and force some equity.  And at cash-out time, hope the appraisal comes in favorably.  I am thinking that the formula for flipping is relevant in this situation, too. 

Also, you have to make sure your current and future financing scenarios work for your necessary cash flow and returns on the property.

This can only benefit us, as it will force us to seek out and make those great deals.

Android and tagging people... One time ever, on my Android, using Firefox, the tag function worked while trying to post something.  It has never worked in the app (I do have the latest app version), or in Chrome.

I am away from my desktop and use my mobile device 98% of the time, so this function would be great to have.

Thanks for the warm welcome, everybody! 

Brett

Howdy!

This is a site that I have been following for a few years now, and I have finally decided to take action!  My real estate career consists of many years in custom home building, mostly on the design and management side.  After the crash in 2008, I went to work for the DoD as a construction QA inspector.  

My current goals are to BRRRR and to occasionally flip houses outside of the Denver metro area and in the mid west, where I have been eyeing areas from St Joseph down through Kansas City, Joplin, and in to Northwest Arkansas. The reasoning for these particular areas is I am originally from there, know the areas, and have friends and family that I get back to visit regularly.

I am currently getting the business side of things assembled and hope to acquire my first property within the next 90 days.  I look forward to connecting with and meeting some of the folks here, especially those from the Denver area that may be investing in the midwest!

Thanks, 

Brett

How is northwest Missouri doing these days? While doing online research, I see a lot of inexpensive properties and old houses converted to multifamily in St Joe. 

Are there any other areas in NW MO that deserve a look?