All Forum Posts by: Brian Kreitz

I just closed on my first deal on Friday! I bought a piece of land and then immediately sold it on contract for deed. Im all in for about $6,000 which I used my HELOC for. I have another deal in the works that would put me in debt a total of $23,000 between the two deals all of which will be on a HELOC. Should i use the monthly cash flow between the two properties of around $750 to reduce the HELOC balance or should I bank the cash flow and wait until my renters actual buy the property and use that profit to pay off the HELOC?

I am looking for recommendations for a reliable general contractor in the St.Paul/ Minneapolis area of Minnesota.

What are everyone's thoughts on a HELOC? I am not a big fan of leveraging my personal residence(up to about 90%) but the numbers come out better using a HELOC vs hard money. The profit in the flip would only be around $2,000 more using HELOC but my total out of pocket expense would be $8,000 less than hard money. Is it worth leveraging my personal residence(hopefully for 6 months or less), paying less out of pocket, and making 2k more or should I leave my residence out of it make a little less and have more money tied up for 6 months?

Due to a very busy schedule(full time job, running my tree care business on evenings & weekends, family life, etc) I don't have much time to get any marketing going. What are some of the most passive ways to go about marketing and getting my name out there? Thank you for any and all help.

Thank you for the advice.

I am looking to buy a primary residence, do some rehab/add a bedroom and then use the equity in a couple of years to help purchase my first investment property. Any advice on this strategy would be greatly appreciated.

If I had a 3 bed 1 bath on both sides of a duplex and a 3 bed 1 bath single-family home in the same neighborhood how different would the rental rates be? I'm assuming you could get more for a single-family verse multi-family? Why exactly is this? I am trying to determine what to set my rental rate at when doing property analysis but a lot of websites / tools for that are geared towards single-family homes.

what is the best way to get the short-term financing for a brrrr deal? I'm yet to buy my first property and would like to use the brrrr method to make my initial investment go farther. The problem I see is that I will not be able to get a hard money loan or a private lender to give me funds due to lack of experience on my part. Would a conventional bank loan work for the short-term financing?

Joshua thank you for the advice.

Nathan do you know of any REIA meetings in our area?