All Forum Posts by: Chris Stroup

 Commercial lenders will lend on rehab projects for single-family homes.  You will probably have to talk to a few banks and see who is offering them.  

BRRRR's are great. You will have a rental property with capex items taken care of and if you find the right deals, you get to recycle your money.

Just talk to everyone you meet about real estate.  Tell them what you are doing and what you are doing next.  Go to real estate investor meet-ups and make friends with everyone.  Meet the local wholesalers, sometimes you can find really good deals that way.  I am doing a flip right now that I got from a wholesaler.  

Find a local Realtor that specializes in working with investors.  They will be able to introduce you to everyone you need to know.  

I think the best thing to do is network.  Make friends with everyone that you can.  Meet contractors, Realtors, lenders, other investors, property managers, anyone that is relevant in your market.  

Find better ways to finance your deals. Sit down and talk to a local commercial lender. Maybe you can get a rehab loan and do a BRRRR where you can pull all your money out when you refi. Then you can immediately start your next deal.

Find someone that offers lines of credit.  

Maximize your personal finances so you have more money for real estate investing.  

@Shawn S. It depends on your market.  Here in Fayetteville, NC properties are renting really fast.  So if you wanted an easy property that can be on the market quickly, a turnkey rental isn't a bad option.  

I take your meaning of turnkey as a property that is ready to be rented once purchased, not a property from a turnkey service.  

My biggest mistake was staying married to my ex-wife for too long.  Ignoring all other reasons, she wasted all of our money on nothing useful.  I made a good amount of money when I deployed and traveled and I wanted to invest all of it.  Over 10 years of marriage and time in the Army we invested very little.  

Now that I have moved on, investing is going much better.   If I would have gotten out of that relationship years ago, I could have been financially free by now. 

@Logan Jorns interesting.  I think it is important to have a clearly defined goal.  Without a goal the actions don't really matter because they aren't directed in any real direction.  On the other side, every goal needs action.  One without the other is useless.  

For me, it was taking action. I had a partnership formed, we had the money and goals in place. We have a strong team because we work at a real estate brokerage that specializes in working with investors. The most important next thing was to place offers. Since we took action, we started a flip and a BRRRR at the same time.

Since we did the leg work to build relationships with wholesalers and analyzed a ton of deals, we were able to take action and act fast.  But if we would have just taken action without having a plan based on our goals, it could be in the completely wrong direction.  

@Corey Noid Fayetteville is a good market to invest in. We are doing a flip and a BRRRR right now. @Robert Shortsleeves is correct, many of us are active duty or veterans and we love to help each other.  I was on a Zoom call with @Robert Shortsleeves just this morning.  We have a team with property management, contractors, attorneys, and everyone else needed to invest in this area.  Investing is a blast and will set you up for success when you get out of the military.  

Are appraisers W2 employees or independent contractors?  If they are W2, that would be a steady income which will help get you approved for loans.  

It will also get you involved in real estate.  You will probably have plenty of chances to network and make friends.  Networking is really important to be successful in real estate.  

A real estate agent is another good one, that's the route I took.  

A home inspector could also be a good choice.  

Call them!  I am Realtor and I work with investors.  I have had good luck and bad luck calling FSBOs.  You have to build a relationship with them and find out what they are after.  Sometimes they don't sell because they want to much and wont accept less but sometimes those people will play ball if you make friends a bit.  

Find a Realtor that works with investors.  If you aren't experienced and the seller is, they might try and take advantage of you.  Some of them are pretty cut-throat and will try and pull a fast one on you.  If you need help finding someone let me know.  

Find a great deal and package it.  Include everything you can about the deal.  Go to a local real estate investor's meet-up and see if you can make friends.  It might take some time to build trust and relationships but it is worth trying.  

If you have the time, find someone local to learn from.  A local investor, property manager, realtor that works with investors, something along those lines.  

I think you should always get an inspection unless you are doing a huge renovation.  I have had inspections turn up things that I would never have found on turnkey rentals.

Depending on your area, we always do a termite inspection too.  It is the best 40$ you will ever spend.  Termites are pretty bad in Fayetteville, NC.