All Forum Posts by: Constance Kawa-Small

Piggie backing here...

Theresa, what if I can obtain financing but the terms of the loan won't allow for the cash flow we had predicted??

@Ghenia Flewellyn could you elaborate on how you found the deal? Wholesaler? MLS?

@Chen Zhou thanks!

@Chen Zhou so after your trip, what made you decide to actually go for Detroit rather then the other markets you visited? Did the opportunity present itself first in Detroit? Did you develop the team first there? Did the city vibe along with macroeconomics encourage you?

Each individual is unique and I don’t know how much of a “torture” it is for you to go to work everyday, but I’ll share the goals I have, hopefully it will help you set realistic numbers and timeframes.

My short-term: I’ve calculated how many properties (given my buy and hold strategy) will give me the cashflow equivalent to my monthly income and plan on acquiring them by Jan or Feb 2020 the latest.

My long-term goal (for my husband, really lol): he will retired from active duty in 5 years, the goal is to offset his retirement with cash flow from buy and hold that will make our income the same as when he was active. Big challenge this one, but possible with the timeframe.

So...if you know you will eventually leave your job, calculate the numbers, best strategy and realistic time frame that will at least generate the same income, if not monthly, annually, given you have BRRRR in mind. This way, you keep focused on achieving your goals and have some easiness on your mind that your dreadful job has an expiration date.

Wish you a happy and successful RE investing!

That's great! Congrats! I know what you mean by BP inspiration, boy I'm eating and sleeping real estate since joining! I'm hoping to get into escrow this week in Indy too. How did you go about building your BRRRR team? To me that always seems to be the hardest part.

I recently sold in SD and am moving to the Midwest too. Trying to get to markets where I might find the next growth in equity and reasonable cash flow. 

And hopefully some before and after pics too!  

Please share the details! 

How much did you get it for, how much do you plan on spending on rehab and ARV?

Hi Nicholas, 

If you haven’t had the chance, I highly recommend checking out David Greene’s book Long Distance Real Estate Investing. It clarified SO many things for me as I adventure on OOS investing!

And to answer your question, it depends on what strategy you’re going for, but these might be key:

- realtor/broker (possibly a real estate attorney if not using an agent)

- contractor (if doing flips or BRRRR)

- property manager If renting out

I guess once you identify what strategy you’re going for, you should ask yourself where or with what along the way you would need help from locals.